Blog
Tax and Financial Planning for Multi-Generational Caretaking for Jackson Heights Families
Say it with me: four more weeks. Four more weeks until this crazy election cycle is behind us and we can all return to normal here in Jackson Heights.Except, well, if it isn't. With the way that 2020 has been going, we might as well emotionally prepare for that...
Time To Dream With Your Friendly Jackson Heights Tax Professional
With the passing of Justice Ginsburg 45 days before the election, we have officially entered the political crazy season.This -- on top of so much conflict surrounding public health measures. It is also in addition to all of the conversation around racial pain, the...
What Jackson Heights Landlords And Tenants Should Know About The CDC Eviction Stay
Floating under the radar during so much NOISE the past couple weeks ... the CDC announced a halt to evictions for renters, and that starts THIS WEEK.I have some guidance today for you about what that means (and what it doesn't), but a couple other things first, before...
Labor Tax Updates By Eakub Khan
Everything about this year since March has just felt a little ... off. And I mean aside from all of the cultural and political turmoil we're living through.The seasonality of everything feels different too. Pro sports are out of sync, "back to school" season surely...
How Jackson Heights Taxpayers Can Lower Their 2020 Tax Bill
Finally, the IRS issued guidance on Friday evening about payroll tax deferrals.And, as we've been communicating ... this may not be a very helpful program for most Jackson Heights taxpayers. In fact, it's actually up to employers (not employees) whether or not to...
Controlling Your Tax And Financial Strategy In The Midst Of Chaos By Eakub Khan
Still no guidance from the IRS about the payroll tax "holiday" (deferral), so it's extremely unlikely that your Jackson Heights employer will be ready -- simply because the major payroll companies (Paychex, ADP, Gusto, and many others) don't have the answers to many...
Now Is The Time For An Estate Plan For Jackson Heights Taxpayers
Right now, it's almost impossible to escape the conflict, the noise, and the shaming over various cultural decisions we're having to make. Lockdowns, schooling, more economic stimulus, elections, vaccines -- it's all enough to drive you crazy if you pay close...
Eakub Khan’s Guiding Principles For Teaching Kids About Money
However you slice it, the schooling situation right now is tough, with no good options.If you are vehemently in favor of full-on school ... well, compassion would dictate that you would recognize that others are having more difficulty with that, for caution's sake or...
A Strategy For Jackson Heights Taxpayers With A Higher Than Expected Tax Bill
Taking a look around the world these days, and where things seem to be headed...But our heads are high here at Eakub A. Khan CPA P.C. because we worked our tails off for our Jackson Heights clients this year. We helped a bunch of people save a ton on their taxes --...
Reflections On The Extended Tax Season By A Local Jackson Heights area Tax Professional
I remember at the end of April 2019 that I felt like it had been one of the wildest tax seasons in memory. The TCJA ("Trump Tax Code") had thrown a ton of curveballs our way, and we were looking forward to implementing tax planning strategies for our Jackson Heights...
The End of Tax Season, Estimated Taxes, And Unemployment Compensation by Eakub Khan
I'm still emotionally adjusting to the fact that we just went through 4th of July weekend ... and "tax season" is STILL GOING.I'm thankful for it, because I also know that extending the deadline during this wild, intensely difficult year (for so many) was a rare...
Eakub Khan’s To-Do List If You Can’t Pay All Your Taxes
Some of our Jackson Heights area clients are STILL pulling their paperwork -- which is understandable during this donkey of a year, and with all of the new complications.But sadly, ye olde IRS isn't extending any payment grace in a couple weeks. (I say "sadly", but...