LG Accounting Services

10/07/2026

Sometimes when we give clients the results of their tax return, they feel that they need a drink to help them digest such news. Of course, we do what we can to satisfy our clients as long as our office has sufficient supplies on hand.

01/13/2026

Our new office phone number is 718-303-2479. This is a dedicated phone number that we set up just in time for tax season.

Call now to connect with business.

04/02/2024

When you are filling out a W-4 form at work, they ask you if you are withholding Single or Married. Very important: they are NOT asking you for your marital status. Withholding married means that you have a spouse that does not work. If you support a spouse who does not work, who is a stay-at-home parent for example, you will be in a lower tax bracket so your employer withholds half amount of tax. That only works out if it's a 2 (or more) person household with only 1 source of income. If both spouse's work but at least one is claiming "Married" on the W-4, this is a major problem because not enough federal income tax is being withheld from your paycheck. So not only you will end up owing money to the IRS when you file your tax return, but you will also pay a penalty for not paying enough throughout the year.

01/17/2024

We are in the second half of January. Tax season is scheduled to start on January 29th. Now Congress has decided to implement retroactive tax law changes for 2023. It hasn't been finalized yet. This feels like it will be a very delayed tax season.

12/11/2023

This reminds me of people who attempt to do their own tax returns:

11/29/2023

It feels like many people need a reminder. If you have a business or just some income reported to you on Form 1099, it does not automatically mean that you can now "write-off" your car on your tax return.

07/10/2023

A client just forwarded to us this email that they received. If they had clicked on the link without asking first, they would've suffered a phishing event with a possible identity theft. There are just so many things wrong with it so you must be diligent. And as a reminder:

1) Real IRS would only initiate contact by regular mail.

2) no taxing authority would send you personalized information, such as providing specific numbers and refer to you as "Tax Payer".

3) If you're due a refund, those don't come with penalties.

4) They wouldn't write you an email to inform you "abount" anything.

5) Personal tax matters are not handled by the Office of Disaster Assistance nor by the US Small Business Administration.

12/30/2022

Happy New Year!

The IRS announced 2023 mileage rates just in time to ring in the new year.

Beginning Jan. 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be as follows:

• 65.5 cents per mile driven for business use

• 22 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces

• 14 cents per mile driven in service of charitable organizations

These rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.

11/14/2022

Attending a 2-day tax seminar on annual tax updates. Need to learn this entire book just to be able to properly answer client questions and prepare their tax returns.