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Areas of Specialization

Saving taxes for high income individuals and small businesses

IRS audits of estates, individuals and small businesses

New York State audits of non-resident high income individuals

Saving taxes for estates and trusts

Distributions from Individual Retirement Accounts and Qualified Retirement Plans, including minimum required distributions

Tax and accounting services for medical and legal professional service firms

Executive compensation (non-qualified stock options, incentive stock options, restricted stock)

QuickBooks training and support

We provide tax services for businesses (corporations, partnerships, limited liability companies, and sole proprietorships), individuals, estates and trusts, and non-profit entities.

Our objective is to save you as much money in taxes as possible without putting you at risk for penalties or unanticipated tax and interest payments. We do this through creative application of our tax expertise and a mind set of always looking for the maximum legal tax savings. We do not look at taxes in a vacuum, however. For example, as investment and financial planning professionals, we will consider investment risks, impact to college financial aid, etc. when formulating tax savings strategies.

The advantages to you of using Peter J. Simon, CPA, CFP, LLC tax services include:

  • We have a track record of uncovering often overlooked tax savings opportunities.
  • We protect you from the IRS and state taxing authorities by using time tested techniques to minimize the risks of tax audits.
  • In cases where an aspect of a tax return or a position taken on a return will create audit risk, we anticipate audits and use creative approaches to negotiate no changes or significant reductions in assessments.
  • We show you how to avoid estate tax planning errors that can cost your heirs a bundle.
  • We understand the interrelated nature of business tax returns and the business owners’ returns and take advantage of opportunities to reduce and defer taxes.
  • We identify the tax deferred retirement plan or plans that are best for you considering how to create the greatest tax deferral (in some cases as much as 100% of self-employment income), the cost of funding employee contributions, the costs to set up and maintain the plan, and your cash flow needs.
  • With regards to executive compensation, such as non-qualified stock options, incentive stock options, and restricted stock, we advise you as to the regular tax, alternative minimum tax, and New York State nonresident planning opportunities and pitfalls.
  • We take advantage of the opportunities that exist with estates and trusts to reduce income taxes. Many of these opportunities involve interrelationships between estate asset, estate income, trust, and individual tax returns that can be exploited to the benefit of the heirs and beneficiaries. It has been our experience that there are few tax accountants and estate attorneys (actually its generally a paralegal who prepares the returns) who are familiar enough with these different, but interrelated areas of the tax law to identify the significant tax savings opportunities that tend to exist in this area of tax practice.


Services are provided through the Accounting Firm of Peter J. Simon, CPA, CFP