Welcome

Alfred A. Cohen, CPA was founded over 30 years ago.  We utilize the philosophy of offering personal and professional services to all clients. Our practice has grown through  our clients referrals. 

We are a full service accounting firm specializing in satisfying the financial requirements of professional practices, and small to medium businesses.

We utilize the latest technology, which allows us to transfer data with our clients, via the Internet. We offer our assistance in aiding clients in the modernization of their businesses.

Latest Newsletters

October 2008

The crisis in the financial markets, the housing slump and the credit crunch are straining our economy. On October 3, the President signed into law a $850 billion financial markets rescue package, the Emergency Economic Stabilization Act of 2008 with more than $150 billion in tax incentives. In order to get the bill passed Congress added tax extenders and incentives.

February 2008

To help jumpstart the economy, Congress recently passed the Economic Stimulus Act of 2008. President Bush has said he will sign the bill. It's designed to inject $152 billion into the U.S. economy. More than 100 million Americans will receive rebate checks this year, along with child payments for qualifying children. Businesses can take advantage of two tax breaks: enhanced Code Sec. 179 expensing and bonus depreciation. Finally, Congress also extended some help to the troubled housing sector.

Tax Tips

• See our annual limits worksheet for deduction caps.
• The IRS requires a Social Security number for all dependents. Without it the IRS can deny personal exemption, child care or dependent care credit.
• Premiums paid or accrued in 2007 for qualified mortgage insurance are deductible as qualified residence interest. The insurance must be carried on acquisition indebtedness for a qualified residence. A "qualified residence" is the principal residence and one other residence that is not treated as business property.