D’Arcangelo Blog

New York Income Tax: Appellate Court Upholds MCTMT

A New York appellate court has reversed a lower court’s ruling that the metropolitan commuter transportation mobility tax (MCTMT) was unconstitutionally passed by the Legislature without a home rule message. The lower court found that the tax was a special law that did not serve a substantial state interest. However, the appellate court concluded thatContinue reading →

Delay in Affordable Care Act

The bombshell July 2 announcement came in the form of a blog post on the U.S. Treasury Department’s website, accompanied by a statement issued from the White House. The employer “shared responsibility” provision is being delayed one year, until 2015. The move was described, essentially, as a consequence of the IRS’ failure to provide employersContinue reading →

Update on Affordable Care Act

The Affordable Care Act imposes a little-known new fee on certain employers and health insurance companies. The first payments are due on or before July 31, 2013. The Patient-Centered Outcomes Research Institute (PCORI) fee may take some employers by surprise. While many organizations are focused on the healthcare law’s “employer mandate” which was just delayed untilContinue reading →

Investing with a Long-Term Focus

It’s easy to follow a long-term investment strategy in good times; the hard part is sticking with it during bad times. What should you do if you are a long-term investor sitting in the midst of a bear market? If you are holding a well-diversified portfolio, the answer is rather straightforward: stay the course. VolatileContinue reading →

Making Up for Retirement Shortfalls

Given the backdrop of economic uncertainty and the rise in both life expenctancy and medical costs, prospects look difficult for those facing retirement shortfalls. Fortunately, a financial advisor can show you how pulling these key levers can help your retirement nest egg last. Work Longer: Working longer is one of the easier solutions for thoseContinue reading →

Social Security for the Self-Employed

If you thought that running a successful business on your own was hard enough already, think again. As a self-employed individual, defined by the IRS as someone who operates a trade, business or profession, (either by yourself or as a partner), you are required to pay self-employment tax as well as income tax. Self-employment taxContinue reading →

A Beginner’s Guide to Credit Cards

Credit cards are magic little pieces of plastic that allow you to use money without having it, right? Wrong. The reality is that credit cards are magic little pieces of plastic designed to make money for the credit-card companies. Not being aware of your full responsibilities as a credit card holder can bury you deepContinue reading →

Financial Preparations for a Natural Disaster

As residents of areas affected by Hurricane Sandy found out, a natural disaster can bring out not only emotional hardship, but financial hardship as well. From keeping important documents safe and accessible to having enough cash on hand to get by until things return to normal, being prepared for a disaster is an important partContinue reading →

The Tax Impact of a 529 Rollover

Thirty-four states offer some sort of tax deduction or tax credit for contributions made to a 529 plan. But in 29 of those 34 states, the tax break is available only for contributions made to an in-state plan. Only in Arizona, Kansas, Maine, Missouri, and Pennsylvania give residents a tax break for contributing to anyContinue reading →