Larry Associates Inc.

Tax Accounting & Consulting USA & Overseas Clients

Accountant in Fresh Meadows, NY (show on map)

5.0

★★★★★

1 reviews

Larry Associates, Inc. has been providing quality personalized guidance to businesses and individuals for 25 years, offering services ranging from basic tax preparation to in-depth financial consulting.

Call (718) 321-0384

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About

Larry Associates, Inc. has been providing quality personalized guidance to businesses and individuals for 25 years, offering services ranging from basic tax preparation and accounting to more in-depth financial consulting, serving clients both in the USA and worldwide. The firm emphasizes high professional standards, integrity, and a team mentality to ensure every client receives close analysis and attention, leading to a loyal client base that returns year after year.

25 years of experience

Comprehensive tax and accounting services

International client support

Award-winning firm

Services

New Business Set Up

Assistance with establishing new business entities and navigating regulatory requirements.

Entity formation Regulatory compliance Initial licensing

Tax Management Services

Comprehensive tax planning and preparation for individuals and businesses.

Tax return preparation Tax planning Audit support

Accounting Services

Full accounting solutions including bookkeeping, financial reporting, and payroll.

Bookkeeping Financial statements Payroll processing

Improve Your Business Profit

Strategies to enhance profitability and cash flow management.

Profit analysis Cash flow management Cost reduction

Internal Control System & Internal Audit

Design and maintain robust internal controls and conduct internal audits.

Control framework design Internal audit services Compliance monitoring

Commercial & Residential Loan

Assistance with securing and managing business and personal loans.

Loan application support Financial analysis Debt restructuring

Credentials & Certifications

BS in Accounting & Audit

Since null

BS in Law

Since null

Chartered Accountant (India)

Since null

Certified Public Accountant (USA)

Since null

Bharat Gaurav Award

Since null

Reviews

Rating

★★★★★

Reviews

Frequently Asked Questions

What is an installment sale? +

An installment sale is a transaction where the seller receives at least one payment after the tax year in which the sale occurs, allowing the gain to be recognized and taxed over multiple years, potentially reducing the tax burden.

What documents should I keep for tax purposes? +

You should retain records such as W-2 and 1099 forms, receipts, charitable contribution records, property and investment records, retirement plan documents, and any documents supporting bad debt or worthless securities deductions, generally for at least three years after the return is filed or until the statute of limitations expires.

What is the standard deduction for 2024? +

The standard deduction for 2024 is $29,200 for married filing jointly or qualifying widow(er), $21,900 for head of household, and $14,600 for single or married filing separately.

What is the maximum Social Security tax for 2024? +

The maximum Social Security tax for 2024 is $10,453.20, applied to earnings over $168,600.

What is the American Opportunity Tax Credit (AOTC) limit? +

The American Opportunity Tax Credit (AOTC) limit is $2,500 per qualifying student for the 2024 tax year.

What is the standard mileage rate for business driving in 2024? +

The standard mileage rate for business driving in 2024 is 67 cents per mile.