Under federal tax law, you can give a certain amount of money or assets annually without incurring gift tax. The 2025 annual gift tax exclusion is $19,000 (up from $18,000 in 2024). This means you can give up to that amount to as many people as you like tax-free. You must report gifts beyond the exclusion to the IRS on Form 706, but these gifts might still be tax-free under your lifetime gift and estate tax exemption - which is $13.99 million for 2025. Have questions? Contact us at (718) 475-5686.
Arman Chowdhury, CPA, P.C.
会计
Jamaica，NY 26 位关注者
For Jamaica, NY Businesses and Families Looking For a Tax Professional They Can Trust.
关于我们
Arman Chowdhury, CPA is the rare accountant who guarantees success to clients who follow his advice. As one of New York’s top CPAs, clients from across the state hold Arman in the highest esteem. He believes small businesses are the foundation of our economy and has dedicated his practice to helping them attain financial health and security through his services. With this mission in mind, he’s been able to build one of the most successful and respected firms in the state of New York and has hundreds of raving fans across the state. His education includes a unique blend of three financially-based accreditations: Masters in Business Administration (MBA), Certified Public Accountant and Bachelors in Finance. His professional background includes experience as a controller in Morgan Stanley & Citi Group and, for the last five years, as a small-business owner in New York. His passion is to help small-business owners succeed – and he is a frequent speaker and panelist in many community events. Arman has over 20 years of progressive accounting and tax experience and has expertise primarily in the areas of Small Business Management, Financial Reporting & Analysis, not for profits and church & clergy accounting and tax matters. Arman says: “I hate for small business owners to get bogged down in unnecessary, time-consuming detail when I can help them enjoy their businesses – and life — more fully. This is what our firm is all about – removing the roadblocks and paving the way toward success for every entrepreneur.”
- 网站
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https://www.armancpa.com
Arman Chowdhury, CPA, P.C.的外部链接
- 所属行业
- 会计
- 规模
- 11-50 人
- 总部
- Jamaica，NY
- 类型
- 私人持股
- 创立
- 2010
- 领域
- Tax Preparation、Tax Planning、IRS Audit Representation、CashFlow Management、Payroll Services和Payroll Tax Protection
地点
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主要
获取路线
87-54 168th Street
Suite 201
US，NY，Jamaica，11432
Arman Chowdhury, CPA, P.C.员工
动态
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Did you know the 2025 contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan is $23,500? That’s up from $23,000 for 2024. The limit on annual contributions to an IRA remains $7,000. (Those age 50 or older can make additional catch-up contributions.) Questions about what else has changed this year? Contact us at (718) 475-5686.
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Yep, it's true. While standard deductions may provide welcome tax breaks, there are a few scenarios where you may not be qualified to take it. Some examples include: if you are married filing separately and your partner chooses to itemize and then you must also itemize; you are filing a return as a trust, estate, or partnership; your returns cover a period less than a year due to accounting changes; or you are considered a ‘nonresident alien’ or ‘dual-status alien’ in the US. These can be tricky to work out on your own. Fortunately, we are just a call away – (718) 475-5686! Contact us for tax help today.??
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A customer-focused business culture places the customer at the center of all your business decisions. This strategic approach helps your business build brand loyalty, customer satisfaction, and eventual business success. Have you incorporated any of these tips into your organization’s culture? https://bit.ly/3vtwKKp
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It's advisable to begin saving money in a retirement account as soon as you can to increase your nest egg. The longer you put off saving, the less time your assets have to grow. Now may be a good time to discuss your retirement plans with a qualified financial advisor like us. We’d love to help you! Contact us today at (718) 475-5686.
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Businesses can deduct “ordinary and necessary” expenses they incur in the course of operations. If your business claims higher-than-average deductions for your industry, it might be a red flag that triggers an IRS audit. You could have to prove that certain expenses are ordinary and necessary by providing invoices, receipts, contracts and other documentation. Organizing your expense records to stand up to IRS scrutiny doesn't have to be complicated. Let us handle your numbers so you can focus on what matters - running your business. Schedule an appointment with us today at (718) 475-5686.
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Traveling internationally for business goes hand in hand with unique tax challenges and opportunities. Be sure you’re maximizing your benefits and minimizing your risks by keeping detailed records and being aware of any local and foreign tax obligations. Stay on top of things through proper planning and informed decision making. https://bit.ly/4cVh1nl
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Some gifts can be made tax-free without using up any of your $19,000 annual gift tax exclusion or $13.99 million lifetime exemption. Specifically, you can pay an unlimited amount for someone else’s tuition or medical expenses. To be tax-free, the payments must be made directly to the qualified educational institution or health care provider. Understanding the nuances of federal gift tax law can help keep taxes to a minimum - that's where we come in! Give us a call at (718) 475-5686 today.
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