Taxmaster, Inc.

10/28/2026

Those “settle your IRS debt for less” ads leave out a lot.
An Offer in Compromise has specific requirements. The IRS reviews your income, expenses, assets, and ability to pay before deciding whether to accept it.
Checking those numbers first helps you understand whether it’s a realistic option for your situation.
Read more:
https://www.taxmasterinc.com/post/irs-payment-options-for-taxpayers-who-cannot-pay-in-full

IRS payment options explained: short-term plans, installment agreements, hardship status, and Offers in Compromise for New York taxpayers.

10/26/2026

If you only look at your books when tax time rolls around, you’re probably missing part of the picture.
Regular bookkeeping makes it easier to see what’s coming in, what’s going out, and where things stand.
718-326-0500 | 631-673-0617
https://www.taxmasterinc.com/services/bookkeeping-services

10/23/2026

Bookkeeping and accounting handle different parts of your business finances.
Bookkeeping records and organizes the transactions. Accounting uses those records to build reports and help explain the numbers.
Reliable reports start with reliable books.

10/21/2026

A life insurance payout may count toward your estate, even when the beneficiary receives it income-tax-free.
Whether it’s included depends on ownership and the rights held over the policy.
That death benefit can change the estate tax picture for a family that thought it was comfortably below New York’s threshold.
Read more:
https://www.taxmasterinc.com/post/how-the-new-york-estate-tax-cliff-works

New York's estate tax credit phases out just above the exclusion, so the first dollars over the line cost the most — and New York has no portability.

10/19/2026

Running a business means tax questions tend to pop up all year, not just in April.
Having a plan for payments, deductions, and recordkeeping can make the whole process feel a lot less reactive.
718-326-0500 | 631-673-0617
https://www.taxmasterinc.com/services/business-tax-services

10/16/2026

Reconcile your business accounts monthly, while the transactions are fresh.
Missing entries and duplicate charges are easier to investigate now.
Letting them sit until tax season turns small questions into a bigger cleanup.
Glendale: 718-326-0500 | Melville: 631-673-0617.

10/14/2026

Can’t afford the tax bill? Waiting to file can make the problem more expensive.
Filing and paying are separate responsibilities. Missing the filing deadline can add another penalty to an unpaid balance.
The IRS offers payment options, so owing more than you can pay doesn’t mean you’re out of choices.
Read more:
https://www.taxmasterinc.com/post/irs-payment-options-for-taxpayers-who-cannot-pay-in-full

IRS payment options explained: short-term plans, installment agreements, hardship status, and Offers in Compromise for New York taxpayers.

10/12/2026

Growing businesses need more than accurate numbers.
Reliable accounting provides the financial insight needed to make informed decisions throughout the year.
What financial goal is your business focused on right now?
718-326-0500 | 631-673-0617
https://www.taxmasterinc.com/services/accounting-services

Bookkeeping, financial reporting, and accounting system setup for businesses in Queens and Long Island. Serving New York business owners since 1950.

10/09/2026

Tell your tax preparer about a major life change before the year ends.
A new job or a move into self-employment can affect your taxes.
October gives you time to talk through the change before filing season.
Glendale: 718-326-0500 | Melville: 631-673-0617.

10/07/2026

Being below the federal estate tax threshold doesn’t mean an estate avoids New York tax.
New York has its own lower threshold. Its exclusion credit also phases out quickly once an estate crosses that line.
For families near the limit, a small increase in estate value can create a much larger tax bill.
Read more:
https://www.taxmasterinc.com/post/how-the-new-york-estate-tax-cliff-works

New York's estate tax credit phases out just above the exclusion, so the first dollars over the line cost the most — and New York has no portability.