James Pantzis, CPA, PC

"Life's most persistent and urgent question is, 'What are you doing for others?'" - MLKJ

One of the things that should be a priority in life is helping others, both personally and in business.

May we all take a cue from Martin Luther King Jr.'s words today.

It’s hard to get ahead in this economy. But what makes that climb even steeper?

𝗪𝗿𝗼𝗻𝗴 𝗮𝘀𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻𝘀 𝘁𝗵𝗮𝘁 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗰𝗼𝘀𝘁 𝘆𝗼𝘂 𝗺𝗼𝗻𝗲𝘆.

If any of these have crossed your mind, it’s time for a new perspective:

"𝘐’𝘭𝘭 𝘸𝘰𝘳𝘳𝘺 𝘢𝘣𝘰𝘶𝘵 𝘵𝘢𝘹 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘺 𝘰𝘯𝘤𝘦 𝘐 𝘩𝘢𝘷𝘦 𝘢 '𝘳𝘦𝘢𝘭' 𝘯𝘦𝘴𝘵 𝘦𝘨𝘨."
Actually, the strategy is what helps you build the nest egg in the first place.

"𝘛𝘢𝘹 𝘤𝘳𝘦𝘥𝘪𝘵𝘴 𝘢𝘯𝘥 𝘥𝘦𝘥𝘶𝘤𝘵𝘪𝘰𝘯𝘴 𝘢𝘳𝘦𝘯'𝘵 𝘸𝘰𝘳𝘵𝘩 𝘵𝘩𝘦 𝘩𝘢𝘴𝘴𝘭𝘦."
When things are tight, every dollar matters. Don't give the government a "tip" you can't afford.

"𝘐 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘣𝘦 𝘸𝘦𝘢𝘭𝘵𝘩𝘺 𝘣𝘦𝘧𝘰𝘳𝘦 𝘐 𝘤𝘢𝘯 𝘸𝘰𝘳𝘳𝘺 𝘢𝘣𝘰𝘶𝘵 𝘵𝘢𝘹-𝘦𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨."
You don't wait until you've "made it" to protect your growth. You do it now so you can get there.

"𝘚𝘢𝘷𝘪𝘯𝘨 𝘤𝘢𝘴𝘩 𝘪𝘴 𝘵𝘩𝘦 𝘰𝘯𝘭𝘺 𝘴𝘢𝘧𝘦 𝘮𝘰𝘷𝘦 𝘳𝘪𝘨𝘩𝘵 𝘯𝘰𝘸."
Cash feels safe, but inflation and taxes are quietly eating your purchasing power every day.

There is a massive difference between "filing" your taxes and having a strategy for them. If you only look at your finances in April, you’re missing the tools that are available to you right now.

We’re here to help you see those gaps so you can stop guessing and start being intentional with what you keep.

𝘚𝘩𝘰𝘶𝘭𝘥 𝘺𝘰𝘶 𝘧𝘪𝘭𝘦 𝘺𝘰𝘶𝘳 𝘤𝘶𝘳𝘳𝘦𝘯𝘵 𝘵𝘢𝘹𝘦𝘴 𝘦𝘷𝘦𝘯 𝘪𝘧 𝘺𝘰𝘶 𝘬𝘯𝘰𝘸 𝘺𝘰𝘶 𝘤𝘢𝘯'𝘵 𝘱𝘢𝘺?

Two reasons why we say 𝗬𝗘𝗦 even if the bank account is empty:

𝟭. 𝗧𝗵𝗲 "𝗟𝗮𝘁𝗲 𝗙𝗲𝗲" 𝘁𝗿𝗮𝗽
The penalty for not filing is usually 10x higher than the penalty for not paying. Filing on time stops the most expensive clock the IRS has.

𝟮. 𝗬𝗼𝘂𝗿 𝗿𝗲𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗽𝗹𝗮𝗻 𝗱𝗲𝗽𝗲𝗻𝗱𝘀 𝗼𝗻 𝗶𝘁.
The IRS will almost never approve or keep an installment agreement active if you aren't current on your filings. If you're working to settle old debt, a missing 2025 return can actually default your entire plan and put you back at square one.

Staying current is the best way to show the IRS you’re acting in good faith. It keeps your payment options open and prevents a single bad year from derailing your progress.

What Are Tax Planning Strategies Brooklyn Taxpayers Should Use First In 2026?

What Are Tax Planning Strategies Brooklyn Taxpayers Should Use First In 2026? What are tax planning strategies you should focus on first in 2026? Learn how January organization and estimates shape your entire tax year.

Before you file your 2025 taxes, here are a few updates on tax credits that have changed and how they impact your tax situation:

✅ If you’re working and raising kids, the Earned Income Credit is higher again. You could get 𝘂𝗽 𝘁𝗼 $𝟴,𝟬𝟰𝟲 𝗯𝗮𝗰𝗸 (𝘧𝘰𝘳 𝘧𝘢𝘮𝘪𝘭𝘪𝘦𝘴 𝘸𝘪𝘵𝘩 𝘵𝘩𝘳𝘦𝘦 𝘰𝘳 𝘮𝘰𝘳𝘦 𝘲𝘶𝘢𝘭𝘪𝘧𝘺𝘪𝘯𝘨 𝘤𝘩𝘪𝘭𝘥𝘳𝘦𝘯).

✅ The Child Tax Credit is still worth 𝘂𝗽 𝘁𝗼 $𝟮,𝟮𝟬𝟬 𝗽𝗲𝗿 𝗰𝗵𝗶𝗹𝗱 if your child is under 17 and lived with you most of the year ($1,700 𝘰𝘧 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴 𝘳𝘦𝘧𝘶𝘯𝘥𝘢𝘣𝘭𝘦).

✅ If you adopted a child, the adoption credit increased to $𝟭𝟳,𝟮𝟴𝟬 𝗽𝗲𝗿 𝗾𝘂𝗮𝗹𝗶𝗳𝘆𝗶𝗻𝗴 𝗰𝗵𝗶𝗹𝗱 ($5,000 𝘰𝘧 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴 𝘳𝘦𝘧𝘶𝘯𝘥𝘢𝘣𝘭𝘦).

✅ If you help family financially or are planning ahead, you can give 𝘂𝗽 𝘁𝗼 $𝟭𝟵,𝟬𝟬𝟬 𝗽𝗲𝗿 𝗽𝗲𝗿𝘀𝗼𝗻 in 2025 without extra tax issues. (𝘔𝘢𝘳𝘳𝘪𝘦𝘥 𝘤𝘰𝘶𝘱𝘭𝘦𝘴 𝘤𝘢𝘯 "𝘨𝘪𝘧𝘵 𝘴𝘱𝘭𝘪𝘵" -- 𝘨𝘪𝘷𝘦 $𝟯𝟴,𝟬𝟬𝟬 𝘱𝘦𝘳 𝘱𝘦𝘳𝘴𝘰𝘯.)

Not sure which of these applies to you? Send us a DM and let's talk.

Want tax season to be easier this year?

The IRS opens the 2026 tax filing season on 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟮𝟲.

Here’s what to do before then:
✔️ Organize your tax documents
✔️ Make sure your records are complete
✔️ Review last year’s return
✔️ 𝗚𝗿𝗮𝗯 𝗮 𝘁𝗶𝗺𝗲 𝗼𝗻 𝗺𝘆 𝗰𝗮𝗹𝗲𝗻𝗱𝗮𝗿 to get ahead of questions

USPS's new rules about mail processing will affect the "postmarked by" date on your mail.

This article highlights some of the reasons this matters and how you can ensure you get the right postmarked date when it does.

https://www.cnbc.com/2025/12/31/usps-postmark-delays-taxes-ballots-bills.html

What Are The Best Year-End Tax Moves Brooklyn Taxpayers Can Make Last Minute?

What Are The Best Year-End Tax Moves Brooklyn Taxpayers Can Make Last Minute? Learn the best year-end tax moves that are still available right now, and how a few smart choices can change your tax outcome next year.

The Child Tax Credit increased from $2,000 to $2,200 (per qualifying dependent) for 2025.

Of that, up to $1,700 is refundable. Meaning you can receive it as part of your refund even if you don’t owe any taxes.

𝗜𝗻 𝗿𝗲𝗮𝗹-𝗹𝗶𝗳𝗲 𝘁𝗲𝗿𝗺𝘀: If you owe $1,000 in taxes and have one qualifying child, the $2,200 credit wipes out your tax bill 𝘢𝘯𝘥 could put part of the remaining amount (up to $1,700 per child if you qualify for the refundable portion) back in your pocket.

How Can Brooklyn Retirees Reduce Required Minimum Distribution Taxes?

How Can Brooklyn Retirees Reduce Required Minimum Distribution Taxes? Confused about required minimum distribution taxes? Get clear strategies to lower the tax hit as RMDs begin.

𝗪𝗵𝗮𝘁 𝗰𝗮𝗻 𝗜 𝗱𝗼 𝗶𝗳 𝗺𝘆 𝗜𝗥𝗦 𝗮𝗽𝗽𝗲𝗮𝗹 𝘄𝗮𝘀 𝗱𝗲𝗻𝗶𝗲𝗱?

1. Take a second look at the case. Did the IRS reject your position or just some of the details, including how the issue was framed, how documentation was presented, or limits within the Appeals process?

2. Determine if there's another path to take... Offer in Compromise, reconsideration, further negotiation, mediation, or other resolution strategies.

𝘕𝘰𝘵𝘦: 𝘛𝘐𝘔𝘐𝘕𝘎 𝘔𝘈𝘛𝘛𝘌𝘙𝘚. 𝘈𝘯 𝘈𝘱𝘱𝘦𝘢𝘭𝘴 𝘥𝘦𝘯𝘪𝘢𝘭 𝘭𝘦𝘵𝘵𝘦𝘳 𝘰𝘧𝘵𝘦𝘯 𝘵𝘳𝘪𝘨𝘨𝘦𝘳𝘴 𝘢 90-𝘥𝘢𝘺 𝘸𝘪𝘯𝘥𝘰𝘸 𝘵𝘰 𝘧𝘪𝘭𝘦 𝘢 𝘱𝘦𝘵𝘪𝘵𝘪𝘰𝘯 𝘪𝘯 𝘜.𝘚. 𝘛𝘢𝘹 𝘊𝘰𝘶𝘳𝘵. 𝘐𝘧 𝘵𝘩𝘢𝘵 𝘥𝘦𝘢𝘥𝘭𝘪𝘯𝘦 𝘱𝘢𝘴𝘴𝘦𝘴 𝘸𝘩𝘪𝘭𝘦 𝘺𝘰𝘶’𝘳𝘦 𝘸𝘦𝘪𝘨𝘩𝘪𝘯𝘨 𝘰𝘱𝘵𝘪𝘰𝘯𝘴, 𝘺𝘰𝘶 𝘤𝘢𝘯 𝘱𝘦𝘳𝘮𝘢𝘯𝘦𝘯𝘵𝘭𝘺 𝘭𝘰𝘴𝘦 𝘵𝘩𝘦 𝘳𝘪𝘨𝘩𝘵 𝘵𝘰 𝘫𝘶𝘥𝘪𝘤𝘪𝘢𝘭 𝘳𝘦𝘷𝘪𝘦𝘸 𝘦𝘷𝘦𝘯 𝘪𝘧 𝘰𝘵𝘩𝘦𝘳 𝘢𝘳𝘨𝘶𝘮𝘦𝘯𝘵𝘴 𝘮𝘪𝘨𝘩𝘵 𝘩𝘢𝘷𝘦 𝘣𝘦𝘦𝘯 𝘷𝘪𝘢𝘣𝘭𝘦.

3. Get your documentation organized before urgency sets in.

4. Work with someone who specializes in IRS dispute resolution. We're here for you.