The Hidden Pitfalls of Having Too Many Business Bank Accounts
If you’ve ever heard of the Profit First method by Greg Michalowicz or Simple Numbers by Greg Crabtree you know they emphasize creating separate…
Find out moreAccounting Insights for NYC Business Owners
Practical bookkeeping, tax planning, and payroll guidance for New York City service businesses — built to keep your numbers accurate, your taxes low, and your business growing.
Building a financial emergency fund
The new year is a great time to start new habits. One new habit is building a financial emergency fund.
Find out more
Why Filing a Tax Extension Might Be a Smart Move
Filing taxes can feel overwhelming, especially when life’s twists and turns make it hard to hit the April deadline. Luckily, the IRS offers a…
Find out more
The IRS Funding Saga: What It Means For You
If you’ve been catching bits and pieces about IRS funding cuts but feel a bit lost in the details, you’re in good company. Let’s…
Find out more
File your Beneficial Ownership Information Report on time
To avoid criminal & civil penalties, businesses must file a report with the Financial Crimes Enforcement Network (FinCEN)
Find out moreDeducting Meals and Entertainment
When are meal and entertainment expenses nondeductible, 50% deductible, or 100% deductible?
Find out more
My Fiscal Office is Requiring ALL clients to have a IRS Identity Protection (IP) PIN.
In the past, we strongly recommended that clients obtain an IRS Identity Protection (IP) PIN. This year, as part of our mandated Written Information…
Find out more
Roth Conversions VS Harvesting Capital Gains
Navigating the opportunities and challenges that come with significant appreciated investments or large pre-tax retirement accounts. While this growth is fantastic, it can bring…
Find out more
Are Zombie Expenses Killing Your Bottom Line?
At My Fiscal Office we started using the term “zombie expenses” to refer to those expenses our clients don't realize they are paying month…
Find out more