What are the opening hours?

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

Robert P Russo CPA PC

Name: Robert P Russo CPA PC
Address: 231 West 29th Street, Suite 402, New York, NY, 10001, US
Telephone: (212) 279-9800

Home
United States
New York, NY
Robert P Russo CPA PC

Call Directions Website Contact the business

A Certified Public Accounting Firm. Specializing in small businesses and self employed individuals.

10/31/2026

Wishing you a safe, fun, and Happy Halloween! 🎃 We hope your day is filled with plenty of treats, a little bit of spooky fun, and no scary tax surprises. 👻

10/28/2026

By the time we're preparing your tax return, most of the decisions that created those numbers have already been made 💸

That's why tax planning shouldn't begin during tax season.

For business owners, the months leading up to year-end are an opportunity to look at the bigger picture. Is your business structured properly? Are you maximizing the deductions available to you? Do estimated payments need to be adjusted? Could retirement contributions make sense? Are there major purchases, investments, or transactions coming up that should be planned for now?

These are conversations that are far more valuable while there's still time to make strategic decisions.

Your tax return tells us what happened. Tax planning helps us influence what happens next.

If we haven't reviewed your 2026 numbers yet, now is the time to start the conversation.

10/27/2026

Tax credits and tax deductions can both lower your tax bill, but they don't work the same way ❌

A tax deduction reduces the amount of your income that's subject to tax. A tax credit, on the other hand, generally reduces your actual tax liability dollar for dollar. Depending on the credit, it may even be refundable, meaning you could receive some or all of it even if the credit exceeds the tax you owe.

Understanding the difference is important, but good tax planning goes a step further. Eligibility for certain credits and deductions can depend on your income, filing status, business activities, investments, and financial decisions made throughout the year.

That's why we don't want to wait until tax preparation to ask which tax benefits are available. By then, some planning opportunities may already be gone.

Learn more about how credits and deductions work and why both should be considered as part of your overall tax strategy:
https://www.robertprussocpa.com/tax-planning-facts-about-credits-and-deductions/

10/22/2026

Trading services instead of exchanging money might feel informal, but the IRS still considers it a business transaction.

If a graphic designer creates a website for an accountant in exchange for accounting services, for example, both businesses generally have taxable income to report. The amount is typically based on the fair market value of the goods or services received.

Bartering can also create recordkeeping and reporting requirements, and transactions conducted through certain barter exchanges may result in Form 1099-B.

The important takeaway is that no cash changing hands doesn't mean no tax consequences. If your business trades products or professional services, those transactions should be documented just as carefully as traditional sales.

Learn more about how the IRS treats bartering and what business owners should be reporting:
https://www.robertprussocpa.com/lets-trade-business-bartering-is-still-taxable/

10/20/2026

A rental property can show a significant loss on your tax return, but that doesn't automatically mean you can use that loss to reduce your salary or business income 🏠

For many real estate investors, the deciding factor is the passive activity rules. Traditional rental real estate is generally considered passive, which can limit when losses are deductible and may result in those losses being carried forward to future years.

But there are important exceptions. Qualifying as a real estate professional, materially participating in your rental activities, and properly documenting your involvement can dramatically change how those losses are treated.

This is also why real estate tax planning shouldn't begin when we're preparing your return. How you acquire, structure, operate, and participate in your properties throughout the year can ultimately determine which tax benefits are available to you.

Real estate can offer significant tax advantages, including depreciation, but getting a deduction on paper and being able to use that deduction today are two very different things.

10/20/2026

A rental property can show a significant loss on your tax return, but that doesn’t automatically mean you can use that loss to reduce your salary or business income 🏠

For many real estate investors, the deciding factor is the passive activity rules. Traditional rental real estate is generally considered passive, which can limit when losses are deductible and may result in those losses being carried forward to future years.

But there are important exceptions. Qualifying as a real estate professional, materially participating in your rental activities, and properly documenting your involvement can dramatically change how those losses are treated.

This is also why real estate tax planning shouldn’t begin when we’re preparing your return. How you acquire, structure, operate, and participate in your properties throughout the year can ultimately determine which tax benefits are available to you.

Real estate can offer significant tax advantages, including depreciation, but getting a deduction on paper and being able to use that deduction today are two very different things.

10/15/2026

A Health Savings Account can do much more than help cover this year's medical expenses. Used strategically, an HSA can be one of the most tax-efficient tools available.

HSAs offer a unique combination of tax benefits: eligible contributions can reduce taxable income, earnings within the account grow tax-free, and withdrawals for qualified medical expenses are also tax-free.

And unlike a Flexible Spending Account, the money doesn't disappear at year-end. Unused HSA funds can continue growing and carry forward from year to year, creating an opportunity to build funds for future health care expenses and even incorporate the account into your longer-term retirement strategy.

As we approach year-end, it's a good time to review your HSA contributions, understand the limits that apply to you, and make sure you're taking full advantage of the tax benefits available.

Learn more about maximizing your HSA: https://www.robertprussocpa.com/make-the-most-of-your-hsa-tax-benefits/

10/14/2026

As we head into the final months of 2026, your investment portfolio deserves more than a performance review. It deserves a tax review, too.

There are several moves worth considering before year-end, including harvesting investment losses to offset capital gains, avoiding the wash sale rule when repositioning investments, and strategically timing the sale of appreciated assets based on your expected income and tax bracket.

Charitable giving can also play a role. Donating appreciated securities rather than selling them first may allow you to avoid capital gains tax while potentially qualifying for a charitable deduction. And for investors who hold qualifying C corporation stock, the expanded Qualified Small Business Stock rules may create additional planning opportunities.

The key is not to let taxes dictate your investment decisions, but to understand the tax consequences before you make them.

With December 31 approaching, now is the time to coordinate your investment strategy with your overall tax plan while there is still time to act 📅

Read all five year-end strategies: https://www.robertprussocpa.com/5-tax-smart-investment-moves-before-year-end/

10/12/2026

Today, we recognize Indigenous Peoples’ Day and take a moment to honor the history, cultures, traditions, and lasting contributions of Indigenous peoples and communities across our country.

May today serve as an opportunity to reflect, learn, and recognize the generations who have helped shape our shared history.

10/08/2026

Hiring a CPA shouldn’t just be about finding someone who can file your tax return 👀

For business owners and real estate investors, the right CPA relationship should extend well beyond tax season. Your advisor should understand how your business is performing, what’s changing in your financial picture, and what decisions are on the horizon so there is time to identify opportunities before they disappear.

That might mean revisiting your entity structure, adjusting estimated payments, evaluating a retirement plan, or planning around the purchase or sale of a business or property. These aren’t decisions you want to first discuss when the year is already over.

Cost matters, but so does value. Saving on a preparation fee can become expensive if it means missing a planning opportunity that could have saved significantly more in taxes.

The real value of a CPA isn’t simply preparing an accurate return. It’s having an advisor who helps you make better tax and financial decisions throughout the year.

Address

231 West 29th Street, Suite 402
New York, NY
10001

Opening Hours

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

Telephone

(212) 279-9800

Website

http://RobertPRussoCPA.com/

Alerts

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