Mark Colella, Author at Colella

03 Jul 26

Estimated Quarterly Taxes for NYC Freelancers: What to Pay and When in 2026

When you work for yourself, no employer handles your taxes. Every dollar that lands in your account is pre-tax money, and the IRS, New York State, and New York City all want their share before April. Miss the quarterly deadlines and penalties start accruing, quarter by quarter, whether or not…

21 Jun 26

How to Do a Mid-Year Tax Check-In for Your New York Small Business

Most New York business owners think about taxes twice a year: April, when they file, and January, when they panic. That gap is expensive. June is when the math still works. You have nearly six months of real income data, the second estimated tax deadline is here, and there is…

03 Jun 26

S-Corp vs. LLC vs. C-Corp: Which Structure Saves the Most Tax in New York?

Choosing the wrong business structure costs New York owners thousands every year, not in penalties, but in taxes they never had to pay. I've worked with S-Corp owners in Manhattan and across the Tri-State Area for 28 years.

20 May 26

Should I Convert My LLC to an S-Corp in New York?

For many profitable New York business owners, the biggest tax problem isn’t under-earning. It’s staying in the wrong tax structure for too long. As LLC profits grow, so does exposure to self-employment tax, a 15.3% burden on the first $176,100 of net income, dropping to 2.9% above that.

06 May 26

S-Corp Reasonable Salary: What It Is, How to Calculate It, and How to Stay IRS-Safe

One question rises above all others for business owners who elect S-Corporation status: how much do I have to pay myself? The answer determines your payroll tax bill, your IRS audit risk, the size of your QBI deduction, and whether your entire S-Corp tax strategy holds up under scrutiny.

17 Apr 26

The Importance of Timely Bookkeeping for Small Service Businesses

For small service businesses, financial clarity is not just a reporting requirement, it is a strategic advantage. Whether you are a consultant, contractor, agency owner, or freelancer, your ability to make informed decisions depends heavily on the accuracy and timeliness of your financial records.

03 Apr 26

Why Real Estate Professionals Should Consider Qualifying as a Real Estate Professional for Tax Purposes

For many individuals involved in real estate, taxes represent one of the largest ongoing expenses. Whether you are a realtor, broker, or active investor, understanding how to optimize your tax position can significantly improve long term financial outcomes.

20 Mar 26

New Business Owner Here Is How to Avoid Common Tax Filing Mistakes

Starting a business is exciting, but many new entrepreneurs quickly discover that taxes are far more complicated than expected. One of the most common challenges new business owners face is understanding how to stay compliant while managing cash flow, recordkeeping, and tax obligations at the same time.

06 Mar 26

The Complete Guide to Tracking Rental Property Expenses

Rental property ownership can be a powerful wealth building strategy, but it also introduces financial complexity that many landlords underestimate. One of the most important responsibilities of property owners is accurately tracking rental property expenses.

20 Feb 26

Year-End Financial Closeout: How to Prepare Your Books for Tax Season (and Avoid Penalties)

For many business owners, tax season feels stressful not because of taxes themselves, but because of disorganized or incomplete financial records. Receipts are missing, accounts don’t reconcile, income numbers look unfamiliar, and deadlines feel rushed.

Estimated Quarterly Taxes for NYC Freelancers: What to Pay and When in 2026

How to Do a Mid-Year Tax Check-In for Your New York Small Business

S-Corp vs. LLC vs. C-Corp: Which Structure Saves the Most Tax in New York?

Should I Convert My LLC to an S-Corp in New York?

S-Corp Reasonable Salary: What It Is, How to Calculate It, and How to Stay IRS-Safe

The Importance of Timely Bookkeeping for Small Service Businesses

Why Real Estate Professionals Should Consider Qualifying as a Real Estate Professional for Tax Purposes

New Business Owner Here Is How to Avoid Common Tax Filing Mistakes

The Complete Guide to Tracking Rental Property Expenses

Year-End Financial Closeout: How to Prepare Your Books for Tax Season (and Avoid Penalties)

Estimated Quarterly Taxes for NYC Freelancers: What to Pay and When in 2026

How to Do a Mid-Year Tax Check-In for Your New York Small Business

S-Corp vs. LLC vs. C-Corp: Which Structure Saves the Most Tax in New York?

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