James P O'Day, CPA, PC.

James P O'Day, CPA, PC. Looking for a blend of personal service and expertise? You have come to the right place! We welcome you to contact us anytime.

Our firm provides outstanding service to our clients because of our dedication to the three underlying principles of professionalism, responsiveness, and quality.

*Professionalism
Our firm is one of the leading firms in the area. By combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention. Our high standards, service and speci

alized staff spell the difference between our outstanding performance and other firms. We make sure that every client is served by the expertise of our whole firm.

*Responsiveness
Our firm is responsive. Companies who choose our firm rely on competent advice and fast, accurate personnel. We provide total financial services to individuals, large and small businesses and other agencies. To see a listing of our services, please take a moment and look at our services page. Because we get new business from the people who know us best, client referrals have fueled our growth in the recent years. Through hard work, we have earned the respect of the business and financial communities. This respect illustrates our diverse talents, dedication and ability to respond quickly.

*Quality
An accounting firm is known for the quality of its service. Our firm's reputation reflects the high standards we demand of ourselves. Our primary goal as a trusted advisor is to be available to provide insightful advice to enable our clients to make informed financial decisions. We do not accept anything less from ourselves and this is what we deliver to you. We feel it is extremely important to continually professionally educate ourselves to improve our technical expertise, financial knowledge, and service to our clients. Our high service quality and "raving fan" clients are the result of our commitment to excellence. We will answer all of your questions, as they impact both your tax and financial situations.

This Father’s Day is especially meaningful at James P. O’Day, CPA, P.C.While building a successful accounting practice h...
06/21/2026

This Father’s Day is especially meaningful at James P. O’Day, CPA, P.C.

While building a successful accounting practice has been a lifelong passion, James would tell you that his greatest accomplishment has never been measured in tax returns, balance sheets, or years in business—it’s his family.

Today, he is proud to work alongside both of his sons, Ryan and Jarrett, continuing a legacy built on hard work, integrity, and a commitment to serving clients and the community. Watching them grow into professionals and leaders in the firm has been one of the most rewarding chapters of his career.

From all of us at James P. O’Day, CPA, P.C., we wish a Happy Father’s Day to all the dads, grandfathers, stepfathers, mentors, and father figures who lead by example, support their families, and inspire the next generation every day.

Happy Father’s Day.

Today we commemorate Juneteenth, a day that marks the end of slavery in the United States and celebrates freedom, resili...
06/19/2026

Today we commemorate Juneteenth, a day that marks the end of slavery in the United States and celebrates freedom, resilience, and progress.

As we honor this important day in our nation’s history, we also recognize the ongoing pursuit of equality, opportunity, and justice for all.

May this day serve as a reminder of how far we have come and the importance of continuing to learn, reflect, and grow together.

Happy Juneteenth.

Did the IRS assess penalties or interest on your tax account during the pandemic years? You may be entitled to relief.A ...
06/17/2026

Did the IRS assess penalties or interest on your tax account during the pandemic years? You may be entitled to relief.

A recent court decision found that certain IRS penalties and interest assessed during the COVID-19 period may have been improperly charged. As a result, some taxpayers who missed filing or payment deadlines between January 20, 2020, and July 10, 2023, could qualify for a refund or penalty abatement.

While additional legal challenges are expected and the final outcome remains uncertain, affected taxpayers should be aware of an important deadline: filing a protective claim by July 10, 2026 may help preserve your rights while the courts continue to address these issues.

If you believe you were charged IRS penalties or interest during this timeframe, now is the time to review your situation.

Contact our office at (516) 671-3300 to discuss your eligibility and determine the appropriate next steps.

Get Ahead With a Midyear Tax ReviewLife changes can affect your tax picture more than you might expect. Taking time now ...
06/15/2026

Get Ahead With a Midyear Tax Review

Life changes can affect your tax picture more than you might expect. Taking time now to review key areas can reduce the risk of certain penalties and uncover tax savings opportunities.

Start by reviewing your withholding and estimated tax payments. If your income has changed, you may need to update your Form W-4 so that your withholding accurately reflects your current circumstances. If you’re self-employed or have significant income not subject to withholding (such as dividends or capital gains), you may need to make quarterly estimated tax payments to avoid underpayment penalties.

Next, revisit deductions and credits. Changes in your filing status, dependents, education expenses or homeownership can affect eligibility. Additionally, increased charitable giving may create tax-saving opportunities. Keep organized records of charitable contributions, medical expenses, and, if you’re self-employed, business costs to substantiate claims and maximize benefits.

It’s also a good time to reevaluate retirement contributions. Increasing contributions to employer plans or IRAs can reduce taxable income and strengthen long-term savings. If you’re eligible to contribute to a Health Savings Account, consider funding it as well to take advantage of its triple tax benefits (deductible contributions, tax‑deferred growth and tax‑free withdrawals for qualified medical expenses).

Contact the office if you need guidance.

James P. O’Day CPA, P.C.
70 Glen Street, Suite 270 Glen Cove, NY 11542
#516-671-3300
888 Veterans Memorial Hwy -Suite 110
Hauppauge, NY 11788
#631-232-1777

www.Jamespodaycpapc.com

Today we celebrate the American flag and the values it represents—freedom, unity, resilience, and opportunity.On Flag Da...
06/14/2026

Today we celebrate the American flag and the values it represents—freedom, unity, resilience, and opportunity.

On Flag Day, we honor this enduring symbol of our nation and reflect on the generations who have proudly served, sacrificed, and helped shape our country.

Wishing everyone a meaningful Flag Day as we celebrate the stars and stripes that continue to bring us together.

🇺🇸 Happy Flag Day from all of us at James P. O'Day, CPA, P.C.

Do you earn tips as part of your job? Recent tax law changes may provide a valuable deduction.The IRS has issued final r...
06/12/2026

Do you earn tips as part of your job? Recent tax law changes may provide a valuable deduction.

The IRS has issued final regulations for the new federal deduction on qualified cash tips, allowing eligible workers to deduct up to $25,000 annually for tax years 2025 through 2028.

Qualified tips generally include cash tips received in occupations that customarily and regularly received tips on or before December 31, 2024. The IRS now recognizes more than 70 eligible occupations, including several added in the final regulations such as visual artists, floral designers, and gas pump attendants.

The final guidance also provides important clarification on what qualifies as a deductible cash tip and who is eligible to claim the benefit.

If you work in a tip-based profession or have questions about how these new rules may affect your tax situation, contact our office at (516) 671-3300.

Estate planning isn’t just about passing assets on to your loved ones—it’s also about helping them preserve more of thei...
06/10/2026

Estate planning isn’t just about passing assets on to your loved ones—it’s also about helping them preserve more of their inheritance.

One valuable tax benefit to consider is the "stepped-up basis" rule. When certain assets are inherited, their tax basis is generally adjusted to their fair market value as of the date of the owner's death. As a result, heirs may only owe capital gains tax on appreciation that occurs after they inherit the asset, rather than on the entire gain accumulated over a lifetime.

This rule can apply to a variety of assets, including:
• Investment accounts
• Real estate
• Business interests
• Certain personal property

Understanding how stepped-up basis works can be an important part of an effective estate and wealth-transfer strategy.

If you have questions about estate planning, inherited assets, or minimizing future tax burdens for your family, contact our office at (516) 671-3300.

Business owners: If your company provides complimentary meals, snacks, coffee, or other food and beverages for employees...
06/08/2026

Business owners: If your company provides complimentary meals, snacks, coffee, or other food and beverages for employees, an important tax change is on the horizon.

Beginning in 2026, businesses generally will no longer be able to deduct:
• Meals treated as de minimis fringe benefits (such as office snacks and refreshments)
• Certain employer-provided meals furnished for the employer’s convenience on business premises

For the 2025 tax year, these expenses may still qualify for favorable deductions, making now a good time to review your policies and plan ahead for the upcoming changes.

As with many tax law updates, the impact will vary depending on your business operations and employee benefits programs.

Have questions about how these changes could affect your company? Contact our office at (516) 671-3300 to discuss your options and tax planning strategies.

Thinking about purchasing a new vehicle? A new federal tax deduction may help.Under recent tax law changes, qualifying t...
06/05/2026

Thinking about purchasing a new vehicle? A new federal tax deduction may help.

Under recent tax law changes, qualifying taxpayers may be able to deduct interest paid on eligible auto loans from 2025 through 2028—even if they don’t itemize deductions.

Key details include:
• Deduction capped at up to $10,000 per tax return
• Subject to income-based phaseouts
• Applies only to first-lien loans on qualifying U.S.-assembled passenger vehicles purchased for personal use
• Leased, used, and fleet vehicles are not eligible

The IRS has also issued proposed regulations clarifying how the deduction works, including important guidance surrounding the “personal use” requirement.

As with many tax incentives, the details matter—and eligibility can vary depending on your situation.

If you’re planning to purchase a vehicle or want to know whether you may qualify, contact our office at (516) 671-3300.

Artificial intelligence is changing the way we live and work—but it’s also changing the way scams happen.Fraudsters are ...
06/03/2026

Artificial intelligence is changing the way we live and work—but it’s also changing the way scams happen.

Fraudsters are now using AI to create “deepfake” voices, spoof caller ID information, and generate convincing robocalls designed to impersonate the IRS or other trusted organizations.

A few important reminders:
• The IRS will not call demanding immediate payment
• The IRS will not threaten arrest over the phone
• Official IRS notices are generally sent through U.S. mail

The IRS also cautions taxpayers against relying solely on AI-generated answers for complex tax questions. While AI can be helpful, it can also provide inaccurate or incomplete information when it comes to tax laws and calculations.

Always verify tax information through trusted sources—or better yet, work directly with a qualified professional.

If you have tax questions or receive suspicious communication claiming to be from the IRS, contact our office at (516) 671-3300.

Address

70 Glen Street, Suite 270
Glen Cove, NY
11542

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

(516) 671-3300

Website

Alerts

Be the first to know and let us send you an email when James P O'Day, CPA, PC. posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to James P O'Day, CPA, PC.:

Shortcuts

Share

Category