Fourteen CPAs volunteered their time and expertise on a recent Saturday to give free tax-savvy tips and advice.
It was the second year that the Westchester County Business Journal teamed up with the New York State Society of Certified Public Accountants Westchester chapter, Citrin Cooperman and Eisman, Zucker, Klein & Ruttenberg L.L.P. to present tax hotline day, which was held Feb. 19 in White Plains.
“What impressed me the most was the fact that we got more calls from senior citizens than ever before,” said Barbara Bel, partner, Eisman, Zucker, Klein & Ruttenberg L.L.P. (EZKR) in White Plains and immediate past president of the New York State Society of Certified Public Accountants Westchester chapter. “The calls were quite varied. We got people who made a significant income to those who didn”™t.”
Bel attributed the rise in calls from senior citizens to Business Journal parent Westfair Business Publications”™ new ownership of Generations, a monthly lifestyle publication for county residents age 55 and up covering everything from health care and fitness to finance, law and local events.
This was Bel”™s 16th year participating in the tax hotline.
“I started this (tax hotline) 15 years ago through the NYSSCPA and handed the mantle over to Robert Winton, who is doing a great job,” she said.
“There were a few questions that seemed to be repetitive,” said Robert Winton, a partner at Citrin Cooperman. “There were a few from people who were refinancing their mortgages and a few on money coming out of a retirement plan, be it a 401(k) or pension. So those were a couple of themes we saw.”
Winton said there were approximately the same number of calls received as last year, 50.
Bel fielded calls that ranged from capital gains to a business owner inquiring about what expenses he could deduct.
Catherine Censullo, a CPA and member of the board of directors of the Westchester chapter of NYSSCPA, also received a range of inquiries.
“One gentleman said he”™d donated a car to an elderly relative and wondered if he could write it off, which I told him he couldn”™t.”
Censullo said there were a number of education-related questions tied into the American Opportunity Tax Credit.
New methods of filing can also pose a challenge for individuals who take a do-it-yourself approach to taxes.
“For people who aren”™t in this field, it can be overwhelming to know where to get the information,” Censullo said. “The latest tax law change was on Dec. 17 and a lot of the forms were already in print.”
Howard Klein, managing partner of EZKR, serves as Westchester chapter president of the NYSSCPA.
