What Actually Changes When Someone Looks at Your Numbers
Five businesses across the tri-state area, five very different tax problems, and what changed for each of them. A home daycare deducting food from grocery receipts, an HVAC contractor taxed as a sole proprietor, a seasonal landscaper paying penalties every April, a real estate partnership depreciating a building the slow way, and a wellness studio paying employees on 1099s.
Stories by situation
- Childcare: a home daycare claiming far less than the standard meal allowance and time and space calculation allow
- Trades: an HVAC contractor losing roughly $8,500 a year to self-employment tax as a default sole proprietor
- Landscaping: a seasonal business paying estimated tax penalties that safe harbor planning removes entirely
- Real estate: a six unit partnership where cost segregation moved around $350,000 of depreciation into year one
- Wellness: a studio with five practitioners misclassified as contractors under New York rules
How to read these stories
Each story reflects the kind of work we do across the tri-state area, and every figure is worked from current tax rules and published rates. Details are combined and identifying information is left out to protect client privacy. Individual results depend on individual circumstances.
Questions about your own taxes or books? Book a free 15 minute call or call (646) 917-7714.