Schulman Lobel LLP

For CPAs, the days and weeks leading up to the April 15th filing deadline are some of the busiest (and most stressful!) on our calendar. This year, to celebrate getting through another tax season, our East Coast offices threw a party at Bowlero bowl in NYC. A fun time was had by all — care to guess what our high score was? Bonus points if you can guess which Schulman Lobel staffer rolled it! #taxes #cpa #accountant #accounting #advisor #businessmanager #worklifebalance #officeculture #teambuilding #teambonding #bowling

When gifts to an individual exceed a certain threshold, they should be reported on a separate Gift Tax Return (Form 709). Unsure if you have to file a return? Simply ask your Schulman Lobel contact. #taxes #cpa #accountant #accounting #advisor #businessmanager #gifttaxes #form709 #gifttaxexclusion #taxFAQ]

It is with profound sorrow that the Partners and Principals of Schulman Lobel announce the passing of long-time Partner Rene Verghese on March 5, 2024. Rene was a key member of our core team, having joined the firm in 2006. She is survived by her loving husband, George Thomas, and their two children. #inmemoriam #workfamily

While the “big” tax deadline isn’t until next month, there are still several important filing and payment deadlines to be aware of in March — all falling on Friday, March 15, 2024: 3/15 — Partnership & S-Corp Return or Extension Due 3/15 — Q1 C-Corp Estimated Payment Due 3/15 — NYS/NYC PTE (Pass-Through Entity) Elections Due 3/15 — NYS/NYC C-Corp MFI (Mandatory First Installment) Payment Due 3/15 — Form 3520-A Annual Information Return of Foreign Trust With a U.S. Owner Due #taxes #cpa #accountant #accounting #advisor #businessmanager #deadlines #scorp #ccorp #passthroughentity #mandatoryfirstinstallment #form3520 https://ow.ly/QX1Y50QThOY

Earlier this month, Schulman Lobel Partners Wes Childs and Rob Grubman joined other industry leaders and artists, such as multi-Grammy-winning musician Killer Mike, at the “Award Season” Grammy Week party. Held at a private mansion in the Bel Air neighborhood of Los Angeles, the event was the second annual party thrown by the Milk & Honey management company and music company Reservoir. Said Grubman, “Behind every successful artist, there is usually a team of people, including managers, agents, lawyers, and accountants…and this party was the perfect opportunity to celebrate and network with our peers.” #taxes #cpa #accountant #accounting #advisor #businessmanager #musicians #grammyweek #stepandrepeat #redcarpet

While there is only one significant deadline in February, this time of the year is actually the beginning of tax season. The IRS started accepting individual returns at the end of January — and for 2024, the date (Jan. 29) is the same for business returns. February 15 — 1099-MISC Forms Due Form 1099-MISC is used to document payments to individuals for things like royalties, rent, prizes and awards, medical and healthcare payments, and other forms of income not recorded on W-2s and regular 1099s (which are due at the end of January). If you are among our many clients who are artists eligible for royalty income, be on the lookout for the 1099-MISC form(s) due to you. #taxes #cpa #accountant #accounting #advisor #businessmanager #deadlines #1099MISC #royalties #taxseason

Happy New Year! While 2024 has only just begun, there are already a few key dates you should know about coming up. January 16 — Q4 2023 estimated tax payment due. If you usually make quarterly estimated tax payments, this is the due date for your final payment for the 2023 tax year. January 31 — Due date for employers to send W-2 and 1099 forms. The IRS requires all employers to send out W-2s and 1099s no later than January 31 following the close of the tax year. #taxes #cpa #accountant #accounting #advisor #businessmanager #deadlines #newyear #w2forms #1099forms #estimatedpayments

What you need to know about the Corporate Transparency Act (CTA) of 2021 and why it matters for 2024 and beyond. Last week, we emailed Schulman Lobel LLP clients about the Corporate Transparency Act (CTA) of 2021 and its impact on required reporting for affected entities. Here are two key takeaways from the email: - The CTA reporting requirements apply as of January 1, 2024 (for entities first formed in 2024) and January 1, 2025 (for entities existing before 1/1/2024). - While most of our clients fall into the latter category and have until the January 1, 2025 date to comply, note that none of Schulman Lobel’s existing engagement letters cover any services related to CTA compliance, whether for an initial report or a report of changes. Should we decide to provide these services, we will offer separate or revised engagement letters for your approval. To read the entire Client Alert, click here: https://ow.ly/Zki550Qn429

Congratulations to our long-time client Danny Brown on a great article in GQ. https://lnkd.in/dJ_QNue9