The Law Offices of Lawrence Israeloff, PLLC

The Law Offices of Lawrence Israeloff, PLLC Lawrence Israeloff, Esq., CPA, CFP® is an experienced attorney, Certified Public Accountant (CPA), Sometimes you need a lawyer. Sometimes you need an accountant.

Sometimes you need legal help regarding taxes and financial planning. The good news is The Law Offices of Lawrence Israeloff, PLLC can help you on all counts. The Law Offices of Lawrence Israeloff, PLLC provides valuable, intelligent, and creative solutions to address our clients’ business, financial, tax and legal matters. Lawrence Israeloff, Esq., CPA, CFP® is an experienced attorney, Certified

Public Accountant (CPA), and Certified Financial Planner Professional (CFP®), providing a one-stop shop for our clients’ tax, accounting, trusts and estate planning, and business management needs.

A lot of New York business owners we've talked to this spring assumed the PTET election deadline moved from March 15 to ...
06/19/2026

A lot of New York business owners we've talked to this spring assumed the PTET election deadline moved from March 15 to September 15 in 2026.

It didn't. The extension was proposed in the FY2026 budget and ultimately dropped.

That matters because the OBBBA's new $40,000 SALT cap has genuinely changed the math on whether the PTET is worth electing, and the decision now needs more planning, not less. For most of our S-corp, LLC, and partnership clients, electing is still the right call. But "still right" isn't the same as "automatic."

Quick breakdown of what changed, what didn't, and how to think about the 2027 election.

New York's PTET election deadline didn't move to September after all. Here's what S-corp, LLC, and partnership owners need to know about the 2026 pass-through entity tax, including how the new SALT cap changes the math.

The sunset everyone planned around never happened.The One Big Beautiful Bill Act made the federal estate and gift tax ex...
05/26/2026

The sunset everyone planned around never happened.

The One Big Beautiful Bill Act made the federal estate and gift tax exemption permanent at $15 million per person, no expiration date. For high-net-worth families who spent 2017–2025 making defensive gifts and funding irrevocable trusts to beat the TCJA cliff, that's genuinely good news.

But it doesn't mean your plan is optimized for the new landscape.
Our latest post breaks down exactly what changed, what didn't, and where the highest-leverage planning moves are in 2026.

The 2026 estate tax exemption is now permanent at $15M. If you made defensive gifts before the TCJA sunset, your plan may need a second look.

Missed the tax deadline? Don't panic – but don't wait, either.The failure-to-file penalty runs at 5% per month. The fail...
04/22/2026

Missed the tax deadline? Don't panic – but don't wait, either.

The failure-to-file penalty runs at 5% per month. The failure-to-pay penalty is only 0.5%. That gap is why filing immediately (even if you can't pay) is almost always the right first move.

Whether you're self-employed with a complicated return or you simply ran out of time, the path back to good standing is usually shorter than you think.

Missed the 2026 tax deadline? Learn what IRS penalties apply, how extensions really work, and your options for getting back into compliance – fast.

Address

445 Broadhollow Road Ste 100
Melville, NY
11747

Opening Hours

Monday 9am - 7pm
Tuesday 9am - 7pm
Wednesday 9am - 7pm
Thursday 9am - 7pm
Friday 9am - 7pm

Telephone

+15165374440

Website

Alerts

Be the first to know and let us send you an email when The Law Offices of Lawrence Israeloff, PLLC 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 The Law Offices of Lawrence Israeloff, PLLC:

Shortcuts

Share

Category