DDK & Company LLP

Did you know some business owners and investors may be able to exclude a significant portion of capital gains when selling qualified small business stock?

The opportunity can be substantial, but eligibility depends on meeting several requirements, including how the stock was acquired, the type of business, and how long the shares are held.

Planning early can make all the difference.

Would you hold an investment longer if it meant reducing or eliminating taxes on the gain?

What does New York's FY 2027 budget mean for taxpayers?

Tax Partner, Michael Rubin breaks down the key provisions you should know including:
- Tax relief for certain tipped income
- An enhanced child and dependent care credit
- A one-time POWER energy rebate
- Business tax and NYC property updates

Read our latest blog to get the key takeaways: https://www.ddkcpas.com/new-york-fy-2027-budget/

Estate planning isn't just about deciding who receives your assets. It's also about understanding how those assets may impact taxes and your family's financial future.

Did you know?
- Stock holdings are generally included in your taxable estate.
- Large cash balances can also increase estate tax exposure.
- Strategic gifting during your lifetime may help reduce the size of your taxable estate.

The earlier you start planning, the more options you may have available.

We're excited to announce a new addition to DDK, Samantha Cheung! We're confident she'll be a great asset to the team, with her experience in public accounting operations and practice management. Join us in giving Samantha a warm welcome 👏

Are you taking full advantage of deductible business expenses—or leaving money on the table?

From home office deductions to business travel, meals, and vehicle expenses, there are valuable opportunities to reduce your tax burden if you know where to look.

This quick guide highlights five commonly overlooked deductions and what you need to qualify.

Which of these deductions are you currently leveraging in your business?

For Mental Health Awareness Month, our team spent May participating in our annual Walking Challenge. It's a month-long wellness competition focused on staying active, building healthy habits, and having some fun along the way.

Yesterday, we celebrated our top three walkers and recognized everyone who took part in the challenge. Whether you were competing for the top spot or simply making time for more movement each day, every step was a step toward better health and well-being!

Congratulations to our winners, and thank you to all who participated!

Your business may qualify for valuable tax benefits tied to research-related activities.

Two key opportunities include:
- The Research Credit
- The Deduction for Research and Experimental (R&E) Costs

While both can help reduce your tax burden, they can't be claimed for the same expenses. Understanding the difference can make a significant impact on your tax strategy.

Have questions about which tax breaks may apply to your business? We're here to help. https://www.ddkcpas.com/contact/

Moving to a new state?

The tax implications may be bigger than you think.

Many people focus on income taxes, but your move could also affect property taxes, sales taxes, estate taxes, and even where you're considered a legal resident for tax purposes.

A little planning before you move could help you avoid costly surprises later.

Read our latest blog to learn what you should know before changing states:https://www.ddkcpas.com/moving-to-a-new-state-review-the-tax-implications-first/

Have questions about the tax impact of a move? Let us know in the comments.

Do you own a second home in NYC?

The new Pied-à-Terre Tax is expected to begin July 1, 2026, and may apply to certain luxury residential properties that aren't primary residences.

The surcharge could affect:
• Certain homes valued above $5 million
• Certain condo and co-op units valued above $1 million during the initial phase

Understanding whether your property falls within the scope of the tax can help you avoid surprises and plan ahead.

Questions about how this may impact you? Contact us to discuss your specific situation.

Scammers are using fake IRS notices, emails, phone calls, QR codes, and even online tax calculators to steal personal information and money from taxpayers.

Before you click a link, scan a QR code, or share sensitive information, take a moment to verify the source.

Learn about some of the most common IRS and tax scams and how to protect yourself.