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Professionals Column

Get educated on retirement savings

Financial education helps people learn about savings, credit and loans. It also helps them prepare for life changes and the unexpected. When planning for retirement financial knowledge is essential. …

How to spot a scam

Now is the perfect time to protect yourself from scams that can damage your finances and reputation.  We can work together to keep your personal information safe!  Fraudsters continue to …

The standard deduction for the 2023 tax year

As most individuals and tax professionals know by now, the standard deduction almost doubled under the Tax Cuts and Jobs Act for the single, married filing jointly, married filing separately, head of …

Finding a qualified tax preparer

If you pay someone to prepare your tax return, the IRS urges you to choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone …

Your filing status could affect your refund

The first step to filing your Federal income-tax return is to determine which filing status to use. In other words, two people making exactly the same amount of income could have different income-tax …

General enrollment period for Medicare, Part B

If you did not apply for Medicare Part B (medical insurance) within three months before or after turning age 65, you have another chance each year during the General Enrollment Period, which runs …

10 reasons to E-file your tax return

The Internal Revenue Service says that electronic filing is the safest, fastest and easiest way for taxpayers to file their tax returns. E-filing is also good for the tax system, good for taxpayers …

If you believe the assessed value or tax class of your property is incorrect, you can file an appeal with the city’s Tax Commission. The commission is distinct from the Department of Finance and …

How providing race and ethnicity data helps

At Social Security, we are continuously working to better understand how our programs serve the public. Collecting race and ethnicity data for research and statistical purposes is one way for us to …

Changes for the 2023 tax-filing season: Part 2

The Inflation Reduction Act has expanded and extended new energy credits, which will save tax dollars for most Americans. Also, the $500 lifetime cap for energy will be replaced with a $1,200 annual …

The benefits of Social Security online

Social Security programs touch the lives of more than 71 million people. We work hard to ensure critical benefits and other services are accessible to you. Consider the start of the new year as an …

Property tax exemptions for homeowners

The maxim “every penny counts” is true even in prosperous economic cycles. Let us discuss a few options for New York City homeowners to save money through real estate tax exemptions. Exemptions …

New year, new tax laws

With the new year come new tax laws. One new tax law, called the "Inflation Reduction Act" (IRA), makes the largest investment in combating climate change in U.S. history, lowers the cost of …

Happy New (Tax) Year!

First and foremost, I want to wish all my readers a happy and peaceful New Year. Your emails and calls are appreciated. It’s that time of year again. The income-tax-filing season has begun and …

A Social Security top-10 for 2024

SSA.gov is your best resource to learn about Social Security programs and do business with us.  Our website is designed to make it easy for you to find what you need. Here are our top 10 …

If you own property, it’s that time of year again

It is that time of the year again. By Jan. 5, the New City Department of Finance values and assesses your property every year to calculate your property tax bill.  Then the tentative assessment …

Will Social Security be there when I retire?

That’s the question we’re answering in the latest episode of our audio series, SSA Talks. Our Chief Actuary Steve Goss sheds light on our trust funds and how they relate to your future benefits. …

Year-end tax-saving strategies for 2023

A smart way to approach tax planning would be to look ahead, not back. Run through this list of tax-saving ideas to make sure you’re taking advantage of all the available opportunities to reduce …

Income-tax withholding check-up

As the end of the year approaches, the IRS encourages taxpayers to consider a tax-withholding check-up. When taxpayers take a close look to make sure that the right tax amount is withheld now, they …

Social Security and scam awareness

Social Security imposter scams continue to be widespread across the United States. Scammers use targeted, sophisticated tactics to deceive you into providing sensitive information or money. If you …

Social Security benefits will increase in 2024

More than 71 million Americans will see a 3.2 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2024.  On average, Social Security retirement …

Understanding capital gains and losses

Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and the …

7 tax sins that can lead to grief

Taxes are complicated, so it’s no wonder that everyone makes mistakes from time to time. But some actions go beyond incorrect arithmetic or thinking something is deductible when it’s not. Some …

Parents, be sure to check out these possible tax benefits

Every parent is familiar with the high cost of raising children. But did you know that your children may help you to qualify for some income-tax benefits? Here are some tax benefits the IRS wants …

Are you eligible for the earned income tax credit?

The Earned Income Tax Credit (EITC) is a financial boost for married filing jointly taxpayers earning $49,622 or less a year. The IRS estimates that each year one in five eligible Americans misses …

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