LUO CPA PLLC

LUO CPA PLLC LUO CPA PLLC is one of the best accounting and tax service providers in the New York City area with great reputation.

We offer a broad range of services for small businesses and individuals. We offer a broad range of services for business owners, executives, and independent professionals, including small business accounting, tax services, payroll services, business consulting, financial analysis and so forth. We are affordable, experienced, and friendly.

Small business owners, beware: Tax identity theft is a costly, ongoing threat. Criminals may file fraudulent returns usi...
06/04/2026

Small business owners, beware: Tax identity theft is a costly, ongoing threat. Criminals may file fraudulent returns using a business’s EIN, impersonate executives to steal employee W-2 data, or use forged IRS documents to pose as a business for financial or tax-related activity. Protect your organization by implementing a cybersecurity plan, securing sensitive data, training employees and using technology tools such as encryption and multi-factor authentication. Working with a trusted tax professional is also critical. We can review your risks, recommend safeguards and determine the next steps if something looks suspicious. Contact us at (646) 216-9191 to learn more.

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan...
06/03/2026

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan,” reimbursements are tax-free to employees and deductible for your business. (Remember, meals are generally only 50% deductible.) Without an accountable plan, reimbursements count as taxable wages and trigger income taxes for the employee and payroll taxes for both the employee and your business. Contact us at (646) 216-9191 to help ensure your reimbursement practices comply with the tax rules and minimize unintended tax consequences.

When it comes to financial reporting, accuracy matters. But so does clarity. Many stakeholders — including board members...
06/02/2026

When it comes to financial reporting, accuracy matters. But so does clarity. Many stakeholders — including board members, donors, employees and investors — don’t have accounting backgrounds and may struggle to interpret complex financial data. Using plain language, engaging visuals and key benchmarks can turn complicated financial data into something more useful and actionable. We can help you develop financial reports and presentations that improve stakeholder understanding of your organization’s performance and enable better-informed decisions. Call us at (646) 216-9191 to learn more.

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, w...
06/01/2026

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, when your loved one inherits an asset, its tax basis is “stepped up” to its fair market value at the time of your death. If the heir later sells the asset, he or she will owe capital gains tax only on any appreciation after your date of death, rather than on the entire gain since you acquired it. Investment accounts, business interests, real estate and personal property are among the assets affected by the stepped-up basis rules. Call us at (646) 216-9191 for details.

Two federal tax breaks can help offset the cost of accessibility improvements. In 2026, qualifying small businesses (wit...
05/27/2026

Two federal tax breaks can help offset the cost of accessibility improvements. In 2026, qualifying small businesses (with $1 million or less in gross receipts or no more than 30 full-time employees in 2025) may claim the Disabled Access Credit. It’s generally worth 50% of eligible accessibility costs (up to a $5,000 maximum). Businesses of any size may also deduct up to $15,000 per year for qualified architectural and transportation barrier removal. You can claim both benefits in the same year, but not for the same expense. New construction isn’t eligible for either break. If you’re planning upgrades, call us at (646) 216-9191 to help you make the most of these incentives.

Late-paying customers create more than cash flow headaches — they can disrupt budgeting, increase borrowing needs and st...
05/26/2026

Late-paying customers create more than cash flow headaches — they can disrupt budgeting, increase borrowing needs and stall growth. However, the problem isn’t always the customer’s unwillingness to pay. It often stems from operational issues, such as weak internal processes, outdated payment systems and inconsistent collections. Businesses that strengthen receivables management improve stability and long-term flexibility. We can help you assess your current collection practices, strengthen internal controls and identify practical ways to improve cash flow management. Call us at (646) 216-9191 for guidance.

In strategic planning, it can be hard for business owners to step back and evaluate opportunities objectively. An extern...
05/25/2026

In strategic planning, it can be hard for business owners to step back and evaluate opportunities objectively. An external advisory board can offer fresh, independent perspectives and seasoned guidance, especially when handling high-stakes, complex transactions. A board’s involvement can elevate professionalism, strengthen credibility with stakeholders and support smarter long-term decisions. Contact us at (646) 216-9191 to explore how creating an advisory board, or optimizing your current one, can help your business grow.

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales m...
05/21/2026

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales may qualify for a special gain exclusion. To be eligible for this break, certain requirements must be met.

QSB stock acquired after Sept. 27, 2010, may be eligible for a 100% gain exclusion if it’s held for at least five years. Under recent tax law changes, QSB stock acquired after July 4, 2025, may be eligible for a partial gain exclusion if it’s held for at least three years.

Call us at (646) 216-9191 to learn whether this tax-saving strategy is right for your business. We can help structure your business to unlock the potential tax savings and navigate the complex rules.

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 e...
05/20/2026

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 employees. For payments made in 2026, businesses generally must issue Form 1099-NEC, “Nonemployee Compensation,” to contractors paid $2,000 or more (up from $600 for 2025). The higher threshold may reduce your administrative burden because you could have fewer forms to file with the IRS. However, it doesn’t change your recordkeeping, worker classification or backup withholding responsibilities. Contact us at (646) 216-9191 to help ensure you’re prepared for the updated reporting requirements.

Cash is no longer the preferred payment method for many customers. As electronic and digital options continue to expand,...
05/19/2026

Cash is no longer the preferred payment method for many customers. As electronic and digital options continue to expand, more businesses are evaluating how much they rely on physical currency. While going fully cashless may not be realistic, a “cash-light” model can help improve margins and streamline operations. However, it’s important to weigh those benefits against customer needs and legal requirements. Before making changes, assess how shifts in payment methods affect cash flow and compliance. The right strategy depends on your customer base, cost structure and risk profile. Call us at (646) 216-9191 to discuss your payment mix and determine whether a cash-light approach makes sense for your business.

Address

333 W 39th Street, Ste 805
New York, NY
10018

Opening Hours

Monday 10am - 7pm
Tuesday 10am - 7pm
Wednesday 10am - 7pm
Thursday 10am - 7pm
Friday 10am - 7pm

Telephone

+16462169191

Website

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