Michael C. Allen & Co., Cpa's PLLC

06/26/2024

You have worked hard to get to where you are in your business. That is why choosing the right consultant is highly important! Don’t wait until you find a major error to reach out. By planning ahead, we can assist with financial forecasting and strategic management. Call us today at (516) 775-3000.

06/25/2024

Estate contains what an individual possesses from their real estate and vehicles to their bank accounts and stocks. If an individual dies, their estate could be subject to an estate tax - often called a "death tax." The IRS calls it a tax on your right to pass on your property at your death. You've got questions and we've got experience! Call us at (516) 775-3000.

06/24/2024

With up-to-date financial records, you can make sound financial decisions, stay organized, protect yourself from potential losses or threats, look for opportunities, and build trust with customers and investors. Failure to keep the records updated can mark your business as a fraud at worst and end up paying penalties. We'll save you hours of confusion and stress - you can count on that! Contact us today at (516) 775-3000 for more information about our services.

06/21/2024

The inheritance you leave your family can set the tone of your loved ones’ financial situation for generations to come. When planning your estate and administering a trust, there are complexities you must navigate through to ensure that your wishes are carried out as you intend. Careful planning and understanding your goals are key to a successful inheritance and legacy.

Leaving behind an inheritance is more than just a financial transaction; it's a legacy that can profoundly impact the lives of your loved ones for generations to come. Whether you're planning your estate or navigating the complexities of administering a trust, there are several crucial consideration...

06/19/2024

Life gets stressful, but we're here to make your bookkeeping a breeze. Contact us today at (516) 775-3000 for more information about our services.

06/18/2024

If you're a first-time business owner, we recommend setting up a separate business bank account to avoid mixing your personal funds and business transactions. Doing so will help with organization and decrease the chance of legal liability from business debts. We also recommend getting a separate business credit card for business expenses. Using one can help with establishing a business credit score while ensuring that your personal credit score is not affected by your business’s finances. Have questions about how to set your business finances up for success? Contact us today at (516) 775-3000.

06/17/2024

You Can Expect Extraordinary and Personalized Service from Us. Don't Wait! Contact Us Today at (516) 775-3000!

06/14/2024

A business credit card can be a very smart financial decision for saying on top of managing your company’s expenses and to build credit. Before applying, there are several things you should consider to ensure you’re making the most of your business’ financial needs.

Applying for a business credit card can be a smart financial move for managing your company's expenses and building credit. However, before you dive into the application process, there are several important factors to consider to ensure you're making the right choice for your business's financial ne...

06/12/2024

What do you have on your Personal Finance Checklist? Let us know if the comments below! Searching for a skilled and professional accountant? Look no further! Contact us at (516) 775-3000 to schedule your consultation. We look forward to working together!

06/11/2024

1. Estate Taxes are Only Effective if the Estate Has a Greater Value than the Threshold.

2. Not All Estates are Subject to Federal Estate Taxes

3. The Normal Rate Paid for Estate Taxes is 18%

4. Asset Transfers to Living Spouses are Spared from the Estate Tax

5. Estate Taxes Are Different from Inheritance Taxes.

To schedule a consultation, contact us at (516) 775-3000.

06/10/2024

Accounting entails collecting data and information, whereas being a consultant allows us to go a step further. We do a thorough analysis of your businesses trends and offer insightful recommendations regarding a particular problem and the sum of your company. Have questions? We have the answers! Talk to us at (516) 775-3000.

06/07/2024

As a taxpayer, it is important that you trust those helping you to tackle your finances and navigate the complexity of tax law and regulation. Hiring the right tax preparer is essential for maintaining accurate filings and ensuring you maximize your tax returns. Before hiring someone, be sure to ask these helpful questions to make an informed decision.

Tax season can be a daunting time for many individuals and businesses alike. With complex tax laws and regulations, it's essential to have a knowledgeable and trustworthy tax preparer by your side. Whether you're a first-time taxpayer or a seasoned business owner, selecting the right tax preparer is...