Menu

News

stream of knowledge
New Jersey grapples with new tax lawJuly 12, 2018

Published by The Real Deal
Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

Anchin's Real Estate Group Co-Leader Robert Gilman is among those experts who expect an exodus from the Garden State because of the reforms. Read More

Anchin in the News: New Jersey grapples with new tax law
Lost in Translation: Technical Issues Create Confusion Over New Depreciation Rules
Lost in Translation: Technical Issues Create Confusion Over New Depreciation Rules
July 12, 2018

The new tax law makes significant changes to the way real estate improvements and other business assets are depreciated for tax purposes. Unfortunately, in the rush to pass tax reform before Christmas, critical provisions were omitted, creating a disconnect between what Congress intended and the language of the act. Read More

Anchin RE Update: Lost in Translation: Technical Issues Create Confusion Over New Depreciation Rules
Defer tax with a Section 1031 exchange, but new limits apply this year
Defer tax with a Section 1031 exchange, but new limits apply this year
July 12, 2018

Robert S. Gilman, CPA, CGMA - Real Estate Co-Leader

Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts and Jobs Act (TCJA) reduces the types of property eligible for this favorable tax treatment. Read More

Anchin RE Update: Defer tax with a Section 1031 exchange, but new limits apply this year
  • Is Being Highly Leveraged a Good Thing?
    Is Being Highly Leveraged a Good Thing?7/12/2018Marc Wieder, CPA - Real Estate Co-Leader

    The 2018 Tax Act limits the deduction of business interest, therefore impacting the potential strategic value of being highly leveraged. According to the Act, beginning in years after 12/31/17, businesses will only be able to deduct interest expense up to 30% of its adjusted taxable income, plus its business interest income. 

  • Defer tax with a Section 1031 exchange, but new limits apply this year
    Defer tax with a Section 1031 exchange, but new limits apply this year7/12/2018Robert S. Gilman, CPA, CGMA - Real Estate Co-Leader

    Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts and Jobs Act (TCJA) reduces the types of property eligible for this favorable tax treatment.

  • Lost in Translation: Technical Issues Create Confusion Over New Depreciation Rules
    Lost in Translation: Technical Issues Create Confusion Over New Depreciation Rules7/12/2018

    The new tax law makes significant changes to the way real estate improvements and other business assets are depreciated for tax purposes. Unfortunately, in the rush to pass tax reform before Christmas, critical provisions were omitted, creating a disconnect between what Congress intended and the language of the act.

  • New Jersey grapples with new tax law
    New Jersey grapples with new tax law7/12/2018Published by The Real Deal. Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

    Anchin's Real Estate Group Co-Leader Robert Gilman is among those experts who expect an exodus from the Garden State because of the reforms.

  • Is the Tax Cuts and Jobs Act (“TCJA”) Eating Law Firms Breakfasts, Lunches and Dinners?
    Is the Tax Cuts and Jobs Act (“TCJA”) Eating Law Firms Breakfasts, Lunches and Dinners?7/11/2018Steven Lando, Services Industry Tax Leader

    The TCJA made significant changes to the Internal Revenue Code (“IRC”) regarding business deductions involving not just entertainment but, in many aspects, employee benefits and traditional meals as well. These changes affect law firms and their clients regardless of entity type however, significant guidance is still needed from the IRS.

  • Effective 7/1/18: Sales and Use Tax Collection Changes for Vermont and Kentucky
    Effective 7/1/18: Sales and Use Tax Collection Changes for Vermont and Kentucky7/2/2018Clarence Kehoe, Leader of Anchin's Tax Department and Sharon Ackerman, Tax Director in Anchin’s Tax Controversy Services Group

    Since the U.S. Supreme Court’s recent overturning of Quill Corp. v. North Dakota, Vermont and Kentucky have released guidance on the treatment of sales and use tax, both of which went into effect on July 1, 2018.

  • Security Risks with Smart Homes and IOT
    Security Risks with Smart Homes and IOT6/28/2018

    Every device that is added to the home Wi-Fi network opens up potential risks. Following smart security practices can help protect both property and personal information.

  • Tips for Minding the House During a Summer Away
    Tips for Minding the House During a Summer Away 6/28/2018Jared Feldman, Co-Leader, Anchin Private Client

    Families will want to make sure they take proper care of their primary residence so that they do not find any unpleasant surprises awaiting them when they return from the summer break.

  • Changes Affecting Divorce in Light of the Tax Cuts and Jobs Act
    Changes Affecting Divorce in Light of the Tax Cuts and Jobs Act6/28/2018Antonia Greenwald, Director, Anchin’s Matrimonial Advisory Group

    The new law applies to divorce or separation agreements executed after December 31, 2018, which means that divorcing spouses will have a good reason to finalize their divorce by the end of the year.

  • Supreme Court Opens Door to Taxation of Online Sales
    Supreme Court Opens Door to Taxation of Online Sales6/26/2018Clarence Kehoe, Leader of Anchin's Tax Department and Sharon Ackerman, Tax Director in Anchin’s Tax Controversy Services Group

    In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the high court’s previous rulings on the issue disadvantaged them, as well as state governments that are eager to replenish their coffers. 

  • Supreme Court Overturns Significant Wide Reaching Tax Ruling
    Supreme Court Overturns Significant Wide Reaching Tax Ruling6/21/2018Clarence Kehoe, Leader of Anchin's Tax Department and Sharon Ackerman, Tax Director in Anchin’s Tax Controversy Services Group

    In one of the most groundbreaking tax events in decades, the U.S. Supreme Court overturned Quill Corp. v. North Dakota, a 1992 decision pertaining to the collection of use tax. Now, retailers can be required to collect sales and use tax, even in states in which they lack a physical presence. 

  • Anchin offers analysis of the 2017 Tax Cuts and Jobs Act in relation to the value of equity interests
    Anchin offers analysis of the 2017 Tax Cuts and Jobs Act in relation to the value of equity interests6/21/2018Published by Hedgeweek.com Anchin Senior Manager Featured: Raymond J. Dragon, MBA, MS, CPVA, ASA

    Hedgeweek highlights our analysis of how the 2017 Tax Cuts and Jobs Act will impact the value of equity interests, and why the potential impact could be very different than what many experts expect.

  • Attention Amazon Vendors – Changes to Sales Tax Collection Policy in WA, MA and NY
    Attention Amazon Vendors – Changes to Sales Tax Collection Policy in WA, MA and NY6/19/2018Sharon Ackerman, Tax Director, Tax Controversy Services Group

    Online retail giant Amazon reached an agreement this year with the states of New York, Washington and Massachusetts that may affect many of the site’s sellers and vendors from a sales tax perspective.

  • ACFE Report to the Nations 2018
    ACFE Report to the Nations 20186/15/2018David Beckman and Cristina Misa, Members of Anchin's Litigation, Forensic and Valuation Services Group

    The Association of Certified Fraud Examiners (“ACFE”) recently published the Report to the Nations 2018 Global Study on Occupational Fraud and Abuse (the 2018 “Report to the Nations” or “2018 Report”), its tenth publication since 1996. For the past 20 years, the ACFE has reviewed thousands of cases of occupational fraud in which insiders stole billions of dollars from their employers.

  • Industry Leaders and Rising Stars Honored at Anchin’s 11th Annual New York Construction Awards
    Industry Leaders and Rising Stars Honored at Anchin’s 11th Annual New York Construction Awards 6/14/2018

    Leading businesses in the construction industry were recognized and honored at the 11th Annual New York Construction Awards, hosted by leading NYC-based accounting, tax and consulting firm Anchin on Thursday, June 14th at Club 101 in midtown Manhattan.

  • More on the New Qualified Opportunity Zones – Significant Tax Benefits
    More on the New Qualified Opportunity Zones – Significant Tax Benefits6/13/2018Paul Gevertzman, Leader, Tax Credits and Incentives Group

    This is the second in a series of alerts on the new Economic Opportunity Zones program created by the Tax Cuts and Jobs Act (TCJA) in December of 2017 to encourage and incentivize long term investments in qualified low-income communities nationwide.  The program provides a tax incentive for investors to roll their capital gains into a Qualified Opportunity Fund (QOF) that in turn invests in economically distressed communities.

  • Rainmaker names outstanding accountants
    Rainmaker names outstanding accountants6/1/2018Published by Accounting Today Anchin Partner Featured: Gregory A. Wank, CPA, CGMA

    Greg Wank was named Practice Growth Leader of the Year for his work with Anchin's food practice.

  • Important Conversations: Talking to Kids About Money
    Important Conversations: Talking to Kids About Money5/31/2018Oxana Olach, Member of Anchin Private Client

    Initiating conversations about money is not typically easy, and many high-net-worth families struggle with determining when to broach this topic with their children.

  • Estate Planning Under the New Tax Law
    Estate Planning Under the New Tax Law5/31/2018Michael Rudegeair, Member of Anchin Private Client

    It is especially important to keep estate plans up to date during times of change—such as when a family grows or laws are modified. Staying informed about tax law provisions helps individuals make smart decisions for the distribution of their assets.

  • Food for Thought: State of the Food and Beverage Industry Event 2018
    Food for Thought: State of the Food and Beverage Industry Event 20185/31/2018

    Anchin's twelfth annual State of the Food and Beverage Industry Event, devoted to issues facing food and beverage manufacturers, distributors and retailers, was held on May 31, 2018 at Club 101 on Park Avenue. 

  • Food Companies Churn Through CEOs, Desperate for Fresh Ideas
    Food Companies Churn Through CEOs, Desperate for Fresh Ideas5/29/2018Published by The Wall Street Journal Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, quoted on food industry CEOs.

  • Department of Commerce Form BE-12 Benchmark Survey of Foreign Direct Investments in the United States May be Required for U.S. Fund Managers
    Department of Commerce Form BE-12 Benchmark Survey of Foreign Direct Investments in the United States May be Required for U.S. Fund Managers5/22/2018Anchin's Financial Services Practice

    Form BE-12 (Benchmark Survey of Foreign Direct Investments in the United States) is required to be filed every fifth year, in place of Form BE-15 (which is for annual reporting that falls outside of the five-year reporting). This Form is filed with the U.S. Department of Commerce’s Bureau of Economic Analysis (“BEA”). The next Form BE-12 filing is due on May 31, 2018 (June 30, 2018 if using the BEA’s e-file system).

  • Did the Tax Cuts and Jobs Act of 2017 Increase the Value of Equity Interests?
    Did the Tax Cuts and Jobs Act of 2017 Increase the Value of Equity Interests?5/22/2018Raymond J. Dragon, Senior Expert in Business and Intellectual Property Valuation

    At first glance, a business or equity owner might conclude that the Tax Cuts and Jobs Act of 2017 (the “Act”) increased the value of equity interests by 20% upon its signing by the President. By cutting corporate level taxes, the value of any business would, on the surface, immediately rise. However, the answer is not so straightforward.

  • New Qualified Opportunity (Zone) Funds Offer Significant Tax Incentives for Investors
    New Qualified Opportunity (Zone) Funds Offer Significant Tax Incentives for Investors5/18/2018Paul Gevertzman, Leader, Tax Credits and Incentives Group

    The Economic Opportunity Zones program was created by the Tax Cuts and Jobs Act (TCJA) in December of 2017 to incentivize the private sector to invest long term in qualified low-income communities throughout the United States in order to spur economic development and job creation. The program seeks to utilize a portion of the estimated 2.3 trillion dollars of unrealized capital gains (in the stock market and mutual funds alone) for development in these designated areas.

  • Impact of the Recent Tax Reform on the Private Equity Industry
    Impact of the Recent Tax Reform on the Private Equity Industry5/15/2018E. George Teixeira, Tax Partner, Private Equity Practice

    The Tax Cuts and Jobs Act (the “Tax Act”), which was signed into law on December 22, enacted a broad range of changes with most provisions taking effect for tax years beginning after December 31, 2017. This alert summarizes some of the key (federal) tax provisions of the Tax Act affecting the private equity industry.

  • New York Reacts to Federal Tax Reform
    New York Reacts to Federal Tax Reform5/3/2018Clarence Kehoe, Leader, Anchin's Tax Department

    On March 30, 2018, the New York State legislature enacted its $168.3B budget for the fiscal year ending March 31, 2019. Provisions in the budget were designed to offset some of the negative effects of the recently-passed federal Tax Cuts and Jobs Act. Will these provisions hold up?  Should you try to take advantage of them?  Here are some early thoughts.

  • Governmentʼs New Tax Law Helps Contractors Catch a Break
    Governmentʼs New Tax Law Helps Contractors Catch a Break5/2/2018Published by Real Estate Weekly Written by Associate Managing Partner: Marc A. Newman, CPA, CGMA

    The TCJA contains some significant provisions affecting contractors, including a potentially substantial (temporary) deduction for owners of 'pass-through' entities. Anchin's Marc Newman shares more with Real Estate Weekly.

  • New Section 179 and Bonus Depreciation Deduction Rules for Equipment Purchases
    New Section 179 and Bonus Depreciation Deduction Rules for Equipment Purchases4/30/2018Laura Mirro, Anchin Private Client

    When deciding whether to take Section 179 deductions or bonus depreciation, one must consider the other changes in the tax law, such as the excess loss limitation rules, to be sure that they can benefit from these deductions.

  • Building Ownership and Compliance in New York City
    Building Ownership and Compliance in New York City4/30/2018Jared Feldman, Co-Leader of Anchin Private Client

    Whether they live in the building or rent it out, building owners in New York City are responsible for following the city codes to ensure the safety of residents and the surrounding areas.

  • Keeping a Trust a Secret Could Violate State Law
    Keeping a Trust a Secret Could Violate State Law4/30/2018Anchin Private Client Center

    When an estate plan includes one or more trusts, it is understandable to want to keep them a secret. Despite all good intentions, however, the law in many states requires trustees to disclose certain information to beneficiaries.

  • The Pass-Through Provisions of the TCJA: The Devil is in the Details
    The Pass-Through Provisions of the TCJA: The Devil is in the Details4/26/2018Clarence Kehoe, Leader, Anchin's Tax Department

    The Tax Cuts and Jobs Act (TCJA) has been touted for cutting the corporate tax rate, but the law also contains some valuable changes for smaller businesses that operate as pass-through entities, including partnerships, limited liability companies, S corporations and sole proprietorships. These businesses stand to see their tax liabilities fall significantly, but determining just how much they will benefit can be complicated.

  • Excess Business Losses: How Will This Affect You?
    Excess Business Losses: How Will This Affect You?4/17/2018Clarence Kehoe, Leader, Anchin's Tax Department

    The Tax Cuts and Jobs Act (TCJA) modified the existing tax law on excess business losses, which previously specifically limited only “Excess farm losses.” The TCJA expanded the law to limit losses from all types of business for taxpayers other than corporations. In other words, tax payers may not be able to fully offset business losses against other types of income, as in the past.

  • Pre-April 17 Tax Pointers: The Quirks And Questions
    Pre-April 17 Tax Pointers: The Quirks And Questions4/12/2018Published by GlobeSt.com Anchin Partner and Principal Quoted: Robert S. Gilman and Jeffrey Bowden

    Robert S. Gilman and Jeffrey Bowden were on a CREW (Commercial Real Estate Women) New York panel of tax experts explaining why the tax reform will not enable filing taxes on a postcard.

  • A 1031 Post-Tax Reform Update
    A 1031 Post-Tax Reform Update4/11/2018Published by GlobeSt.com Anchin Partner Quoted: Marc Wieder, CPA

    Real Estate Co-Leader, Marc Wieder, sat on The RealShare Lease Net Conference panel on 1031 Post-Tax Reform which provided pointers to consider with the new tax law.

  • The Modification of the Net Operating Loss Deduction: What Does This Mean To You?
    The Modification of the Net Operating Loss Deduction: What Does This Mean To You?4/9/2018

    The Tax Cuts and Jobs Act imposes modifications to the net operating loss (“NOL”) deduction rules. These new rule changes affect tax years beginning January 1, 2018 and are scheduled to sunset on December 31, 2025.

  • Cash in natural foods: Experts weigh in on how to get it and prepare to sell
    Cash in natural foods: Experts weigh in on how to get it and prepare to sell4/6/2018Published by New Hope Network Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, shared his insights during Whipstitch Capital’s financing panel at Natural Products Expo West.

  • Causation Expert Precluded
    Causation Expert Precluded4/3/2018Anchin's Litigation, Forensic and Valuation Services Group

    Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group are often called upon to serve as expert witnesses to testify in regards to damages resulting from a liability that caused the damage. Without the causation being proved, damages would not be awarded to the plaintiff.

  • Will you pay tax on 80% of your flow-through income? Maybe, Maybe Not
    Will you pay tax on 80% of your flow-through income? Maybe, Maybe Not4/2/2018Marc Wieder, CPA - Real Estate Co-Leader

    Many people who earn income from pass-through businesses think that under the 2018 Tax Act, they will only be paying tax on 80% of their flow-through income, since the Act provides for a deduction of 20% from this income. In fact, the least amount of the income you will pay tax on is 80% but you may in fact pay tax on 100%.

  • Why Am I Paying Taxes If I Lost Money?
    Why Am I Paying Taxes If I Lost Money?4/2/2018Marc Wieder, CPA - Real Estate Co-Leader

    Think about this concept: Based on tax reform, if you make money, you may pay less taxes, but if you lose money, you might pay more taxes. If your business is losing money, why would you pay more in taxes?

  • Q&A with Anchin’s Marc Wieder: Tax Reform’s CRE Implications
    Q&A with Anchin’s Marc Wieder: Tax Reform’s CRE Implications4/2/2018Published by Connect Media. Anchin Partner Featured: Marc Wieder, CPA

    The Tax Cut and Jobs Act signed into law by President Trump in December presents some new considerations that commercial real estate industry members will want to think through. Anchin’s Marc Wieder, who will give a special presentation on the tax law changes at Connect NY on April 17, offers insights here on the potential impact.

  • Requirements to Keep In Mind When Making Charitable Contributions
    Requirements to Keep In Mind When Making Charitable Contributions3/29/2018Antonia Greenwald, Director, Anchin Private Client

    There are certain rules that must be followed in order to document a donation of property to be able to receive a tax deduction.

  • Seven steps to choosing a successor for the family business
    Seven steps to choosing a successor for the family business3/29/2018

    Extra care can be taken when choosing a successor to give the family business the best possible footing going forward.

  • New Tax Law May Encourage Home Rentals
    New Tax Law May Encourage Home Rentals3/25/2018Published by The Wall Street Journal. Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

    Robert Gilman, Co-Leader of Anchin's Real Estate Group, discusses the extent of the allowable mortgage interest deduction for a rental property.

  • Beware the “Kiddie” Tax
    Beware the “Kiddie” Tax3/23/2018

    At one time years ago, parents could substantially reduce their families’ overall tax burden by shifting income to children in lower tax brackets (usually by transferring investments or other income-producing assets). The kiddie tax was designed to discourage this strategy by taxing most of a dependent child’s unearned income at the parents’ marginal rate. The tax applies to children age 18 or younger plus full-time students age 19 to 23 (with certain exceptions).

  • Expansion of Tax Basis Limitation Rules
    Expansion of Tax Basis Limitation Rules3/19/2018Clarence Kehoe, Leader, Anchin's Tax Department

    Under current tax law, a partner’s distributive share of a partnership loss is allowed only to the extent of the adjusted tax basis of the partner’s interest in the partnership at the end of the partnership taxable year in which the loss occurred. Any losses in excess of the partner’s adjusted tax basis are disallowed pro rata and are carried forward indefinitely for as long as the partner remains in the partnership.

  • Anchin LFVS Briefing
    Anchin LFVS Briefing3/12/2018Anchin's Litigation, Forensic and Valuation Services Group

    The Litigation, Forensic and Valuation Services Group of Anchin, Block & Anchin is often retained by counsel to help compute or refute damages allegedly caused by a negligent act or breach of duty. However, in order for there to be damages, the plaintiff must demonstrate that there was a proximate cause between the alleged negligence and the alleged damages.

  • New Tax Law Provides Potential Deferral Opportunity for Equity Compensation Granted by Privately Held Companies
    New Tax Law Provides Potential Deferral Opportunity for Equity Compensation Granted by Privately Held Companies3/9/2018Christopher Noble, Partner, and Michael Brennan, Senior Manager, Anchin's Technology Group

    The recently passed Tax Cuts and Jobs Act has attempted to cure a common problem that employees of privately held companies encounter when certain types of equity compensation convert and become income.

  • Repeal of Partnership Technical Termination Rules – 2017 Tax Cuts and Jobs Act
    Repeal of Partnership Technical Termination Rules – 2017 Tax Cuts and Jobs Act3/8/2018Clarence Kehoe, Leader, Anchin's Tax Department

    The 2017 Tax Cuts and Jobs Act introduced sweeping changes to the tax law. One of the changes is the repeal of the partnership technical termination rules. Here’s how the changes might impact your business.

  • Maximizing Profits When Redeveloping Buildings
    Maximizing Profits When Redeveloping Buildings2/26/2018Published by GlobeSt.com.

    At the Anchin Construction & Development Forum, real estate experts shared tips on getting the highest return on investment when repurposing old buildings.

  • Tax Cuts and Jobs Act Impacts 529 Plans
    Tax Cuts and Jobs Act Impacts 529 Plans2/23/2018Richard Stieglitz, Tax Partner

    Under the Tax Cuts and Jobs Act, the definition of qualified higher education expenses has now been expanded to include tuition expenses for public, private or religious school from Kindergarten through 12th Grade if paid after December 31, 2017. Parents can now take a tax-free distribution of up to $10,000 per year per beneficiary for qualified K-12 tuition expenses.

  • Raymond Dragon at the American Society of Appraiser’s Northern New Jersey Business Valuation Conference
    Raymond Dragon at the American Society of Appraiser’s Northern New Jersey Business Valuation Conference2/23/2018

    Raymond Dragon MBA, MS, CPVA, ASA presented at the American Society of Appraiser’s Northern New Jersey Business Valuation Conference: “The provisions of the Tax Cuts and Jobs Act affect the valuation of every company in America.  The new law impacts valuation differently by industry; many companies will see increases in value, but certain industries will see declines.  Choosing between a C-Corp, S-Corp or LLC has become more complex.”

  • Individual Tax Rates, Brackets and AMT under the 2017 Tax Reform Act
    Individual Tax Rates, Brackets and AMT under the 2017 Tax Reform Act 2/21/2018

    The 2017 Tax Cuts and Jobs Act introduced some significant changes to the individual income tax structure. Individual income tax rate changes, bracket changes, and changes to the Alternative Minimum Tax (AMT) can impact your overall tax profile.

  • Claim Dismissed Due to Lack of Determined Expertise
    Claim Dismissed Due to Lack of Determined Expertise2/20/2018Anchin's Litigation, Forensic and Valuation Services Group

    It is extremely important that the testifying expert is a technical expert in the field in which he or she is testifying with demonstrated work history.

  • Anthony Mann Offers Insight During Panel Discussion On New York's Infrastructure Needs
    Anthony Mann Offers Insight During Panel Discussion On New York's Infrastructure Needs2/20/2018Published by E-J Electric Installation Co. via PR Newswire.

    E-J Electric President & CEO Anthony E. Mann spoke at the 4th Annual Anchin Construction & Development Forum on Thursday, February 15, 2018.

  • Hellenic Professionals Host US Tax Reform Panel Discussion
    Hellenic Professionals Host US Tax Reform Panel Discussion2/17/2018Published by The National Herald. Anchin Partner Quoted: Steven Lando, CPA

    The panel of experts, including Anchin Tax Partner Steven Lando, discussed the changes and the implications for 2018 for business, markets, and individuals.

  • SEC Announces 2018 Compliance Examination Priorities
    SEC Announces 2018 Compliance Examination Priorities2/16/2018Anchin's Financial Services Practice

    As they have for many years, the SEC announced its 2018 Office of Compliance Inspections and Examinations (OCIE) examination priorities.

  • Individual Income Tax Deductions under the 2017 Tax Reform Act
    Individual Income Tax Deductions under the 2017 Tax Reform Act 2/16/2018

    The 2017 Tax Cuts and Jobs Act introduced some significant changes to the individual income tax structure. Income tax rate changes and income tax deduction changes will impact your overall tax liability. Here are some of the changes.

  • SL Green Realty CEO Says NYC’s Next Frontier Is Vertical
    SL Green Realty CEO Says NYC’s Next Frontier Is Vertical2/16/2018Published by GlobeSt.com.

    The Anchin Construction & Development Forum keynote speaker Marc Holliday emphasizes One Vanderbilt salutes the success of New York.

  • Mnuchin: IRS will close S Corp carried interest “loophole”
    Mnuchin: IRS will close S Corp carried interest “loophole”2/16/2018Published by HFM Compliance. Anchin Partner Quoted: E. George Teixeira, CPA

    E. George Teixeira, Tax Partner in Anchin's Financial Services Practice, comments on the IRS' plan to issue guidance that would allow hedge fund managers to avoid new carried interest restrictions.

  • Anchin Construction & Development Forum 2018
    Anchin Construction & Development Forum 20182/15/2018

    The fourth annual Anchin Construction & Development Forum was held on February 15, 2018 at The New York Academy of Sciences. 

  • Tax Cuts and Jobs Act Substantially Limits Meals and Entertainment Deduction
    Tax Cuts and Jobs Act Substantially Limits Meals and Entertainment Deduction2/14/2018

    The 2017 Tax Cuts and Jobs Act introduced some significant limitations to the meals and entertainment deduction. The new law makes two major changes to the meals and entertainment rules, which can impact your business.

  • How to Survive a Tax Audit
    How to Survive a Tax Audit2/14/2018Published by TheStreet.com. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman says first confirm that the audit notice itself is legitimate. If it is, don't go it alone.

  • Tax Court Ruling That Family Office Carried on a Trade or Business May Offer Tax Planning Opportunities
    Tax Court Ruling That Family Office Carried on a Trade or Business May Offer Tax Planning Opportunities 2/5/2018George Teixeira, Partner, Financial Services Practice

    On December 13, 2017, in Lender Management, LLC v. Commissioner, the U.S. Tax Court ruled that a family office, Lender Management, LLC (“Lender Management”), carried on a trade or business as an investment manager rather than as a passive investor and was therefore entitled to deduct expenses under §162 (“deductible above-the-line with no income limitation”) vs. §212 (“miscellaneous itemized deductions subject to the 2% of adjusted gross income (AGI) floor”). 

  • Tax Cuts and Jobs Act Will Greatly Impact Consumer Product Companies
    Tax Cuts and Jobs Act Will Greatly Impact Consumer Product Companies2/1/2018James Ferrara, John Ingrassia, Marc Federbush and Greg Wank

    The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, brings many changes to the tax landscape in which consumer product companies operate. Here are the most important changes in the new law that will impact your business.

  • Taxation: More than just a NY “State” of Mind
    Taxation: More than just a NY “State” of Mind1/31/2018Tara Burek, Tax Director, Anchin Private Client

    Families that live in one state may find that they have earned income in many states due to the various sources of their income.

  • What to make of Cryptoculture in 2018
    What to make of Cryptoculture in 20181/31/2018Jonathan Kraes, Manager, Anchin Private Client

    For households who are weighing getting into cryptoassets, here are some guidelines.

  • Estate Planning for Blended Families
    Estate Planning for Blended Families1/31/2018Mela Garber, Leader, Trusts and Estates & Matrimonial Advisory Groups

    With an assortment of family members, individuals need to be diligent in maintaining updated documents to avoid or mitigate potential issues.

  • The big question about the Dr Pepper Snapple-Keurig merger—why?
    The big question about the Dr Pepper Snapple-Keurig merger—why?1/31/2018Published by MarketWatch Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, says Dr. Pepper needs to diversify its product offerings to keep up with consumer tastes.

  • How New Tax Law Will Impact PR Firms
    How New Tax Law Will Impact PR Firms1/31/2018Published by Gould-Partners.com Anchin Partner Featured: Michael R. Belfer, CPA, CGMA

    Gould+Partners spoke with Michael Belfer, an accounting and audit partner at Anchin and leader of the firm’s Public Relations and Advertising Industry Group, to find out what agency owners and C-level executives need to know.

  • Tax Cuts and Jobs Act Will Greatly Impact Food & Beverage Companies
    Tax Cuts and Jobs Act Will Greatly Impact Food & Beverage Companies1/22/2018James K. Ferrara and John Ingrassia, Tax Partners in Anchin's Food and Beverage Practice

    The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, brings many changes to the tax landscape that emerging brands operate in. Here are the most important changes in the new law that will impact your business.

  • Amazon short list favors East Coast metros
    Amazon short list favors East Coast metros1/22/2018Published by Real Estate Finance & Investment.Anchin Partners Quoted: Robert S. Gilman, CPA, CGMA and Marc Wieder, CPA

    Robert Gilman and Marc Wieder, Co-Leaders of Anchin's Real Estate Group, remark upon Amazon’s widely anticipated short list of cities that made the cut for the next stage of its headquarters race.

  • South Dakota v. Wayfair Inc. May Significantly Change How Retailers Collect Sales Tax
    South Dakota v. Wayfair Inc. May Significantly Change How Retailers Collect Sales Tax1/17/2018Sharon Ackerman, Tax Director, Tax Controversy Services Group

    It is no secret that there has been a dramatic change in the system of collection of sales tax in the United States in recent years, partially due to trends such as online shopping. A recent court case that could dramatically change the laws on sales tax and have a potentially significant impact on businesses and consumers is progressing through the judicial system.

  • Tax Cuts and Jobs Act: Key provisions affecting Hedge Funds, Private Equity Funds and Other Investment Funds or Fund Vehicles
    Tax Cuts and Jobs Act: Key provisions affecting Hedge Funds, Private Equity Funds and Other Investment Funds or Fund Vehicles1/17/2018George Teixeira, Partner, Financial Services Practice

    The Tax Cuts and Jobs Act (the “Tax Act”), which was signed into law on December 22, 2017, enacts a broad range of changes with most provisions taking effect for tax years beginning after December 31, 2017. This alert summarizes some of the key (federal) tax provisions of the Tax Act affecting managers of hedge funds, private equity funds and other investment funds or fund vehicles.

  • 11 New Tax Deductions and Reductions Under the New Tax Law
    11 New Tax Deductions and Reductions Under the New Tax Law1/17/2018Published by Reader's Digest Anchin Partner Quoted: Clarence G. Kehoe, CPA

    Clarence Kehoe, Anchin's Tax Leader, makes observations about who can count as dependents as well as on the non-deductiblity of sports tickets.

  • When Are Your Taxes Due? A Schedule and Primer for Filing for 2017
    When Are Your Taxes Due? A Schedule and Primer for Filing for 20171/11/2018Published by TheStreet.com. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman discusses the prudence of filing early in case of identity theft, as well as on the complications of S-corporation filings.

  • Ready for the 2018 tax season? It starts Jan. 29, and here’s why you should file early.
    Ready for the 2018 tax season? It starts Jan. 29, and here’s why you should file early.1/11/2018Published by The Washington Post. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman's advice to taxpayers to assume their identifying information has been compromised due to the Equifax breach is included in Michelle Singletary's financial column.

  • Tax Cuts and Jobs Act: Key Provisions Affecting Estate Planning
    Tax Cuts and Jobs Act: Key Provisions Affecting Estate Planning1/8/2018E. Richard Baum, CPA, J.D., Tax Partner

    The Tax Cuts and Jobs Act of 2017 (TCJA) is a sweeping revision of the tax code that alters federal law affecting individuals, businesses and estates. Focusing specifically on estate tax law, the TCJA doesn’t repeal the federal gift and estate tax. It does, however, temporarily double the combined gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption.

  • Arbitral Award Upheld Except for Post-Judgment Interest
    Arbitral Award Upheld Except for Post-Judgment Interest1/5/2018Anchin's Litigation, Forensic and Valuation Services Group

    Members of Anchin Block & Anchin’s Litigation, Forensic and Valuation Services Group often serve as arbitrators in commercial disputes. Sometimes, the claimant in a case will ask for pre-award and/or post-judgment interest in addition to the principal amount of its claim. The arbitrator has to determine if such interest should be awarded and, if so, at what interest rate.

  • Why You Should File Your Taxes ASAP
    Why You Should File Your Taxes ASAP1/5/2018Published by U.S. News & World Report. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman advises taxpayers to assume their data has been compromised and to use the IRS transcript service to monitor activity.

  • Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Real Estate Owners
    Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Real Estate Owners1/3/2018

    The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, offers the real estate industry a treasure trove of tax breaks. Overall, most Real Estate companies and owners will come out ahead under the new tax law, but there are a number of tax breaks that were eliminated. Here are the most important changes in the new law that will impact the real estate industry.

  • Track Your Federal and State Refund
    Track Your Federal and State Refund1/1/2018

    Check the status of your federal or state tax refund

  • Protecting Fine Art Investments with Title Insurance
    Protecting Fine Art Investments with Title Insurance12/29/2017Gary Castle, Senior Advisor, Anchin's Art Specialty Group

    When investing in fine art, collectors often worry about the potential decrease in value if the art or artist were to fall out of favor. While this is a reasonable concern, it will not result in an entire loss of the asset investment. Collectors need to be wary of two other risk factors when buying fine art: authenticity and clear title. While authenticity cannot be insured against, collectors can usually purchase title insurance to protect against potential loss due to a reclamation claim.

  • Turning Over the Keys to the Family Business
    Turning Over the Keys to the Family Business12/29/2017Tamir Dardashtian and Michael Rudegeair, Members of Anchin Private Client

    Owning a business is one part of the American Dream, and seeing it successfully transferred to the next generation ensures that dream continues. Yet with competing interests among family members in addition to financial considerations, transferring a business to the next generation is often a daunting task. Having frank conversations with family members early on and employing the right experts can make the transfer easier.

  • Loyalty Returned - Caring for Fido From Beyond
    Loyalty Returned - Caring for Fido From Beyond12/29/2017Oxana Olach, Manager, Anchin Private Client

    It has been more than 10 years since real estate investor Leona Helmsley bequeathed $12 million in trust to her Maltese named Trouble and nothing to two of her four grandchildren -- a move that was widely derided as frivolous at the time.

    In the years since Helmsley’s passing, many people have started to pay closer attention to how their furry family members would be cared for should they outlive their owners.

  • The Tax Cuts and Jobs Act Overrides the Tax Court Decision in Grecian Magnesite Mining While the IRS Seeks to Appeal the Same Decision
    The Tax Cuts and Jobs Act Overrides the Tax Court Decision in Grecian Magnesite Mining While the IRS Seeks to Appeal the Same Decision12/28/2017

    In a decision handed down in the summer, the U.S. Tax Court refused to accord deference to an Internal Revenue Service (IRS) administrative ruling treating the sale of partnership interests as the sale of assets the partnership uses in a U.S. trade or business, thereby subjecting the resulting gain to taxation as income effectively connected with a U.S. trade or business. The recently passed tax reform law overrides the Tax Court decision. Meanwhile, the IRS intends to appeal against the same decision.

  • Tax Bill Impacts Service Firms
    Tax Bill Impacts Service Firms12/28/2017

    On December 22, President Trump signed into law the “Tax Cuts and Jobs Act of 2017” (TCJA). The bill contains many provisions effective in 2018 that will significantly impact professional and non-professional firms.

  • Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Businesses
    Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Businesses12/28/2017

    The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, contains a treasure trove of tax breaks for businesses. Overall, most companies and business owners will come out ahead under the new tax law, but there are a number of tax breaks that were eliminated or reduced to make room for other beneficial revisions. Here are the most important changes in the new law that will affect businesses and their owners.

  • The Tax Cuts and Jobs Act Doesn’t Cut the R&D Tax Credit
    The Tax Cuts and Jobs Act Doesn’t Cut the R&D Tax Credit12/27/2017Yair Holtzman, Leader, Research and Development Tax Credits Group

    On December 22nd, President Trump signed the Tax Cuts and Jobs Act of 2017 (“TCJA”) into law, setting the stage for the most sweeping update to the U.S. tax code since 1986 tax reform enacted under President Reagan.  The centerpiece of the TCJA, is a permanent reduction in the corporate tax rate from approximately 35% to 21%. Thankfully, as expected, the final law has preserved the research and development (“R&D”) tax credit, which was made permanent in the Protecting Americans against Tax Hikes (“PATH”) Act of 2015. 

  • The Tax Reform: NY CRE Experts Weigh In
    The Tax Reform: NY CRE Experts Weigh In12/27/2017Published by GlobeSt.com Anchin Partner Quoted: Marc Wieder, CPA

    Although obvious effects of the tax reform will be felt in filing 2019 returns, Marc Wieder and other real estate pros advise caution.

  • New Tax Law Brings Big Changes for Individual Taxpayers
    New Tax Law Brings Big Changes for Individual Taxpayers12/26/2017

    On December 22nd, President Trump signed the Tax Cuts and Jobs Act of 2017 (“TCJA”) into law. It is the most sweeping federal tax legislation in more than three decades. While many of the new law’s provisions affect businesses, it also includes significant changes for individual taxpayers, most of which take effect for 2018 and expire after 2025. Here are some of the most notable changes.

  • Tax Bill Impacts A/E/C Industries
    Tax Bill Impacts A/E/C Industries12/22/2017

    Today, President Trump has signed into law the “Tax Cuts and Jobs Act of 2017” (TCJA). The bill contains many provisions that will significantly impact the construction, architecture, and engineering industries.

  • Congress passes biggest tax bill since 1986
    Congress passes biggest tax bill since 198612/21/2017

    On December 20, the House passed the reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act of 2017” (TCJA), which the Senate had passed the previous day. It’s the most sweeping tax legislation since the Tax Reform Act of 1986. The bill makes small reductions to income tax rates for most individual tax brackets, significantly reduces the income tax rate for corporations and eliminates the corporate alternative minimum tax (AMT).

  • Federal tax bill boosts New York real estate, hurts home ownership
    Federal tax bill boosts New York real estate, hurts home ownership12/19/2017Published by Real Estate Weekly Anchin Partner Quoted: Marc Wieder, CPA

    Anchin partner Marc Wieder discusses the federal tax bill, and how the cap of the State and Local Tax (SALT) deduction at $10,000, combined with a new mortgage interest rate deduction could have a deeply negative impact on the housing markets in New York City, Long Island and Westchester County suburbs.

  • Tax Bill Released
    Tax Bill Released12/18/2017

    Late Friday night, a written version of the Republican tax proposal was finally released. The bill represents a substantial revision of our country’s tax code.

  • Taxes for LLC vs. C-Corp: Which is more beneficial for a Technology Company?
    Taxes for LLC vs. C-Corp: Which is more beneficial for a Technology Company?12/14/2017Christopher Noble, Partner, and Michael Brennan, Senior Manager, Anchin's Technology Group

    When making the decision about the type of entity you will choose for your business, there are many factors that need to be considered. Whether it is legal structure and liability, current and future tax implications, set up and compliance costs, or flexibility and exit strategy, there are a variety of elements which will help guide the decision.

  • Tax Plan Moves Forward
    Tax Plan Moves Forward12/14/2017Clarence Kehoe, Leader, Anchin's Tax Department

    The Senate and House conference committee made further progress on its tax reform plan.

  • CFTC Suggests It Has Broader Jurisdiction Over Virtual Currencies, Including ICOs
    CFTC Suggests It Has Broader Jurisdiction Over Virtual Currencies, Including ICOs12/13/2017Jeffrey I. Rosenthal, Partner-in-Charge,and Peter L. Berlant, Partner, Financial Services Practice

    The Commodity Futures Trading Commission (CFTC) recently published a primer to educate the public on virtual currencies. In the explanation, the CFTC outlined its position regarding its role regulating virtual currencies. The primer suggests that the CFTC sees itself having jurisdiction over certain virtual currency transactions, including Initial Coin Offerings (ICOs).

  • How the Senate Tax Bill Could Cost You
    How the Senate Tax Bill Could Cost You12/11/2017George Teixeira, Partner, Financial Services Practice

    A provision in the Senate’s tax plan would take away an investor’s ability to specifically identify which stock shares they relieve when they go to sell their holdings. The provision would require investors selling a portion of a position in stock to sell their oldest shares first, also known as first-in-first-out, or FIFO. This provision is slated to take effect on stock sales starting on January 1, 2018 and is estimated to increase government revenue by $2.7 billion over the next 10 years. The House tax bill, released in early November 2017, did not address this topic.

  • 2017 Financial Services Year-End Tax Planning Alert
    2017 Financial Services Year-End Tax Planning Alert12/6/2017George Teixeira, Partner, Financial Services Practice

    With Donald Trump in the White House and Republicans maintaining a majority in Congress comes the real possibility of some dramatic changes in tax law. 

  • Sales Tax on Foreign Purchases for New Yorkers12/6/2017Sharon Ackerman, Tax Director, Tax Controversy Services Group

    Understanding the full extent of tax obligations, especially given the complex and ever-changing rules governing New York, can be complicated. To ensure that all tax responsibilities are met, coordinate with your Anchin Relationship Partner or Sharon Ackerman, a tax director in Anchin's Tax Controversy Services Group…

  • Senate Passes Tax Bill
    Senate Passes Tax Bill12/5/2017

    The Senate voted and narrowly passed its version of tax reform legislation clearing another significant hurdle in the progress of changing our nation's tax system. There still remains significant differences between the House and Senate versions which will require reconciliation of the two bills.

  • Partnership Agreements and LLC Operating Agreements Need to Be Amended Now!
    Partnership Agreements and LLC Operating Agreements Need to Be Amended Now!12/4/2017Published by Commercial Observer Written by Anchin Partner: Marc Wieder, CPA

    Marc Wieder, Co-Leader of Anchin's Real Estate Group, encourages revising agreements to reflect new legislation.

  • New York City Takes a Step Towards Tax Relief for Small Businesses in Manhattan
    New York City Takes a Step Towards Tax Relief for Small Businesses in Manhattan12/1/2017

    The New York City Council passed a bill that will relieve many businesses in Manhattan of a portion of their tax expense.

  • Cruising the Friendly Skies: Own or Charter Your Own Plane?
    Cruising the Friendly Skies: Own or Charter Your Own Plane?11/30/2017Daniel Torcasi, Senior Manager, Anchin Private Client

    For people who travel frequently for business and pleasure, owning a private jet may feel like a necessity. However, outright ownership may not be the best option.

  • Domestic Employee Payroll: When Running a House is the Same as Running a Business
    Domestic Employee Payroll: When Running a House is the Same as Running a Business11/30/2017Laurie Fasinski, Principal, Anchin Private Client

    When becoming a domestic employer, there are a number of factors to consider in order to be in compliance with labor and tax laws.

  • Important Considerations for Living and Working Abroad
    Important Considerations for Living and Working Abroad11/30/2017Ronald Kalungi, Senior Manager, Anchin’s International Services Group

    Many people dream of living abroad. But for all the wanderlust, it is important to stay organized to prevent unnecessary financial burdens.

  • Tax Reform Advances
    Tax Reform Advances11/20/2017

    Last week saw some major progress on the tax reform proposals. Despite a handful of Republicans from high tax states defecting, the House passed its proposed reform bill. The Senate completed its mark up and will debate the bill when they return from Thanksgiving recess next week.

  • Tax Reform Proposals Affect Partnerships and S Corps
    Tax Reform Proposals Affect Partnerships and S Corps11/16/2017

    On November 9, 2017 the Senate Republicans released their version of tax reform. The Senate version has similarities to the House’s proposal, but there are some distinct differences, including the relief for small businesses.

  • Compare and Contrast the House and Senate Tax Bills
    Compare and Contrast the House and Senate Tax Bills11/14/2017

    Many of the House and Senate provisions are similar. For example, both plans would repeal the alternative minimum tax and retain the charitable contribution deduction. However, there are a number of key differences. Here’s a look at some of the most significant.

  • Senate GOP Releases Tax Reform Plan
    Senate GOP Releases Tax Reform Plan11/14/2017

    The Senate released its long awaited tax reform proposal. While many similarities exist with the House bill many differences also exist. Here are a few observations.

  • Tax Proposal Update
    Tax Proposal Update11/13/2017

    One of the reasons we don’t report extensively on the details of proposed tax law changes is just that – they are proposed and it can be very difficult to keep up with the details and extensive changes. Proving our theory, the House Ways and Means Committee just concluded its markup on the tax proposal and it contains a number of significant changes. The proposal will likely be considered by the full House for a vote this week, so stay tuned.

  • House Bill Repeal Of GST Would Defuse A Ticking Time Bomb For Trust Fund Kids
    House Bill Repeal Of GST Would Defuse A Ticking Time Bomb For Trust Fund Kids11/13/2017Published by Forbes.com. Anchin Partner Quoted: E. Richard Baum, CPA, J.D.

    Tax Partner E. Richard Baum shares his observations on non-skip beneficiaries.

  • Techweek Recap: How to Successfully Execute Mergers & Acquisitions
    Techweek Recap: How to Successfully Execute Mergers & Acquisitions11/10/2017

    Anchin recently sponsored Techweek New York, a week-long conference which exists to spread wealth creation to a diversity of places and people through supporting the emergence of substantial and sustainable businesses, which they call Hero Companies.

  • More Thoughts on Tax Reform
    More Thoughts on Tax Reform11/9/2017

    There are always winners and losers when major tax reform proposals are released. We all need to be cautious about being swayed by the usual political rhetoric.

  • Anchin Insights on Tax Reform
    Anchin Insights on Tax Reform11/7/2017

    As our tax department continues to navigate through the House’s proposed tax changes, a few other surprise revenue raisers were noted impacting individual taxpayers.

  • Location Lures
    Location Lures11/6/2017Published by CFO Magazine. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman offers practical observations on credits and incentives, providing positives & negatives and showcasing pitfalls.

  • House Proposal Would Change Long Term Contract Method
    House Proposal Would Change Long Term Contract Method11/3/2017

    Yesterday, the House Republicans released their proposal for tax reform. The House Bill proposes to increase the $10 million average gross receipts exception to the requirement to use the percentage-of-completion accounting method for long-term contracts to $25 million for tax years beginning in 2018.

  • Republicans Finally Release Tax Reform
    Republicans Finally Release Tax Reform11/2/2017

    Moments ago, House Republicans released their proposal for tax reform. Similar to prior announcements, this document lacks much of the details necessary for proper evaluation

  • Legal Issues Facing Women in Retirement
    Legal Issues Facing Women in Retirement11/2/2017Published by ThinkAdvisor.com Anchin Principal Quoted: Mela Garber, CDFA

    Tax Principal Mela Garber shares her perspective on late-in-life financial management and what is necessary for women to have financial success.

  • Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding
    Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding11/1/2017

    Attached for your convenience is a summary of the tax treatment of certain fringe benefits for payroll tax and income tax reporting purposes, plus detailed information regarding company automobiles and health and accident insurance premiums for S corporations.

  • Why Couples Should See a Financial Adviser Before They Get Married
    Why Couples Should See a Financial Adviser Before They Get Married11/1/2017Published by The Wall Street Journal Anchin Principal Quoted: Mela Garber, CDFA

    Mela Garber, Leader of Anchin's Matrimonial Advisory Group, describes how older engaged couples with unequal means sort in advance how they will pay expenses in their marriage.

  • Putting Leverage to Good Use - Philanthropy
    Putting Leverage to Good Use - Philanthropy10/31/2017Gary Castle, Tax Principal, Anchin Private Client

    Leveraged philanthropy was born out of the desire for donors’ contributions to work for the charity that they support, typically involving terms that must be met in order to receive the donations, and the terms generally being actions that will be helpful to the recipient organization as well as their charitable purpose.

  • Does Taking Care of My Parents Mean That I've Made a Taxable Gift?
    Does Taking Care of My Parents Mean That I've Made a Taxable Gift?10/31/2017Tamir Dardashtian and Michael Rudegeair, Members of Anchin Private Client

    As baby boomers age, younger generations must contemplate the question of what needs to be done when it comes to taking care of their parents. The answer depends upon where you reside and how payments are made.

  • Year-End Tax Planning for Businesses: Looming Tax Reform Creates Planning Challenges
    Year-End Tax Planning for Businesses: Looming Tax Reform Creates Planning Challenges10/30/2017Clarence G. Kehoe, Partner and Tax Leader

    As the end of 2017 approaches, the prospect of dramatic tax reform makes year-end tax planning especially challenging. In late September, the Trump administration and Republican congressional leaders unveiled their Unified Framework for Fixing Our Broken Tax Code. The framework proposes reduced tax rates for businesses as well as changes to a variety of business tax benefits. But there’s a great deal of uncertainty over when — and if — tax reform will be implemented and which proposals could make their way into possible new tax legislation.

  • U.S. Research and Development Tax Credit
    U.S. Research and Development Tax Credit10/30/2017Published by The CPA Journal Written by Anchin Tax Partner: Yair Holtzman, CPA, CGMA

    Yair Holtzman, Leader of Anchin's Research and Development Tax Credits Group, explains how the credit works and shares his findings on the impact of the PATH Act.

  • Wisconsin’s Foxconn Deal Highlights How States Use Cash to Sweeten Bids
    Wisconsin’s Foxconn Deal Highlights How States Use Cash to Sweeten Bids10/20/2017Published by The Wall Street Journal. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman weighs in on this increasingly popular approach.

  • Major finance firms are now targeting Brooklyn, says Industry City leasing director
    Major finance firms are now targeting Brooklyn, says Industry City leasing director10/19/2017Published by The Real Deal.Anchin Partner Featured: Robert S. Gilman, CPA, CGMA

    In a panel moderated by Anchin's Robert Gilman, real estate industry leaders spoke about Brooklyn's emergence as a new office market, and how the key to the borough's future will be attracting more traditional companies.

  • Five Things to Know About the Future of Public Transportation in New York City10/18/2017

    As presented by keynote speaker, Veronique (Ronnie) Hakim, Managing Director of Metropolitan Transportation Authority at Anchin’s 12th Annual State of the Construction Industry Event

  • A Prenup Can Protect Your Investments
    A Prenup Can Protect Your Investments10/18/2017Published by U.S. News & World Report Anchin Tax Director Quoted: Lydia Vercelli, CPA

    Lydia Vercelli, Member of Anchin's Matrimonial Advisory Group, presents some viable alternatives to the standard agreement.

  • Four Key Takeaways From Anchin's State Of The Construction Industry Event
    Four Key Takeaways From Anchin's State Of The Construction Industry Event10/16/2017Published by Tarter Krinsky & Drogin LLP.

    The annual Anchin State of the Construction Industry event brought together major players in the construction community to discuss issues impacting the sector in New York City. Here, [Tarter Krinsky & Drogin LLP] Construction partner Laurie Stanziale explores some of the conference's key takeaways.

  • How to Protect Your Assets Without a Prenup
    How to Protect Your Assets Without a Prenup10/14/2017Published by Brides.com Anchin Principal Featured: Mela Garber, CDFA

    Mela Garber, Leader of Anchin's Matrimonial Advisory Group, shares how—and why—to keep your premarital funds safe.

  • Summary Judgement Denied on Warranty Breach Claim Where Expert Opinion Raised Factual Dispute
    Summary Judgement Denied on Warranty Breach Claim Where Expert Opinion Raised Factual Dispute10/11/2017Anchin's Litigation, Forensic and Valuation Services Group

    Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group are often called upon to serve as expert witnesses.  As demonstrated in a case recently reported in the New York Law Journal, a testifying expert’s qualifications are extremely important as they go to the credibility of the witness’ testimony and cans sometimes have far reaching effects even before a trial begins.

  • New Research Credit Directive Provides Safe Harbor for Taxpayers That Expense R&D Costs on Audited Financial Statements
    New Research Credit Directive Provides Safe Harbor for Taxpayers That Expense R&D Costs on Audited Financial Statements10/10/2017Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    The Large Business and International (LB&I) division of the IRS recently released guidance that will allow taxpayers to take advantage of a new safe harbor under which an adjusted amount of their ASC 730 R&D costs can be deemed qualified research expenses (QRE) for the purpose of claiming the Section 41 research tax credit. 

  • SEC Rules that Digital Assets Can Be Treated as Securities, Fall Under Federal Securities Law
    SEC Rules that Digital Assets Can Be Treated as Securities, Fall Under Federal Securities Law10/10/2017

    Since their launch, cryptocurrencies and other digital assets have operated in a regulatory grey area. Should they be treated as currencies? Securities? As something completely different? In a July report, the SEC clarified the situation and set a new precedent: Digital assets can be treated as securities and fall under federal securities law.

  • Crain's Fast 50
    Crain's Fast 5010/8/2017

    To arrive at their annual list of the 50 fastest-growing companies in the metro area, Crain's New York Business combed through financials that were sent to them by applicants, with their intrepid reporters digging up the rest. They looked at firms with at least $10 million in revenue and ranked them by their three-year growth rate. Anchin helped them review the companies’ financial documents, and PrivCo, a financial-data provider of privately held companies, filled in the blanks for companies that were publicity-shy.

  • Top Lessons from the 2017 SEC Cybersecurity Report
    Top Lessons from the 2017 SEC Cybersecurity Report10/2/2017

    Cybersecurity continues to be a top priority for the SEC. They recently reviewed 75 firms, including broker-dealers, investment advisers, and investment companies, to see what the financial industry is doing well related to cybersecurity, as well as what needs to be improved. Firms should use this information to evaluate and improve their own protection of client data and be aware of these issues which the SEC will be on the lookout for during future inspections.

  • How to Protect Yourself Against a Recent Social Security Scam
    How to Protect Yourself Against a Recent Social Security Scam9/29/2017

    A recent social security scam has appeared on the radar targeting the generation of Americans receiving benefits.

  • Simple Techniques to Actively Reduce the Size of Your Estate
    Simple Techniques to Actively Reduce the Size of Your Estate9/29/2017

    Families may want to simplify and reduce the size of their estate while they are alive to minimize the future tax consequences for their beneficiaries.

  • 7 Little-Known Financial Benefits of Divorce
    7 Little-Known Financial Benefits of Divorce9/29/2017Published by U.S. News & World Report Anchin Principal Quoted: Mela Garber, CDFA

    Mela Garber, Leader of Anchin's Matrimonial Advisory Group, discusses the benefits of conservative investing, and home downsizing.

  • Federal Tax Proposal Released
    Federal Tax Proposal Released9/28/2017

    On Wednesday, September 27th, the “Unified Framework for Fixing Our Broken Tax Code” was released.  In the nine page outline, numerous concepts for federal tax reform were presented. We have been told that this outline was intentionally broad in order to allow the Ways and Means Committee to take the first step in drafting legislation.

  • Venture-Backed Activity Grows in 2017, but So Does the Average Investment Life
    Venture-Backed Activity Grows in 2017, but So Does the Average Investment Life9/26/2017Christopher J. Noble, CPA, CGMA, Partner and Practice Leader, Technology Industry Group

    While 2016 saw somewhat of a correction in Venture Capital activity from the highs of 2014-2015, 2017 has begun a rebound and is on pace to top 2016.  However, data has shown a growing disparity between the number of VC investments and the number of exits by venture-backed companies, indicating that late-stage companies have increasingly chosen to continue raising capital rather than move forward with an exit. 

  • Sales and Use Tax Exemptions Extended for Certain Property and Service Purchases for Leased Commercial Office Space in Lower Manhattan
    Sales and Use Tax Exemptions Extended for Certain Property and Service Purchases for Leased Commercial Office Space in Lower Manhattan9/19/2017Sharon Ackerman, Tax Director

    Amendments have been made to the Tax Law that will extend tax incentive opportunities for businesses that locate or relocate offices in lower Manhattan.

  • Arbitration Panel Did Not Exceed Authority
    Arbitration Panel Did Not Exceed Authority9/14/2017Dennis Neier, Director, Litigation, Forensic and Valuation Services Group

    It is very difficult to have an arbitrator’s decision and award vacated. There are only a few circumstances in which a court will vacate an arbitrator’s decision and award. One of those circumstances is when the arbitrator or the arbitration panel exceeds authority.

  • Wine, Art, Cars: Alternative Luxury Investments
    Wine, Art, Cars: Alternative Luxury Investments9/14/2017Published by TheStreet.com Anchin Partner Quoted: Russell B. Shinsky, CPA, CGMA

    Partner Russell Shinsky advises on boat ownership regarding depreciation, sales tax and mortgage interest deductibility.

  • Tax Relief for Hurricane Victims
    Tax Relief for Hurricane Victims9/14/2017

    Taxpayers in Florida, Texas, the U.S. Virgin Islands and Puerto Rico that have been impacted by Hurricane Harvey and Hurricane Irma have been granted relief from the IRS. 

  • Large Equifax Cybersecurity Breach Could Affect 143 Million People – Are You One Of Them?
    Large Equifax Cybersecurity Breach Could Affect 143 Million People – Are You One Of Them?9/11/2017

    Last week, Equifax announced a large cybersecurity breach that compromised personal information of up to 143 million Americans. The breach, which occurred between mid-May and July was discovered in late July. 

  • Tax-advantaged ways grandparents can give to grandchildren
    Tax-advantaged ways grandparents can give to grandchildren9/10/2017Published by Don't Mess With Taxes.com Anchin Partner Featured: Jane E. Bernardini, CPA, PFS

    Jane Bernardini, Partner and member of Anchin Private Client, shares some tips on tax advantages for grandparents providing support for future generations.

  • Tax Court Refuses to Follow Rev. Rul. 91-32 in Grecian Magnesite Mining Decision
    Tax Court Refuses to Follow Rev. Rul. 91-32 in Grecian Magnesite Mining Decision8/23/2017

    In a recent decision, the U.S. Tax Court refused to accord deference to an Internal Revenue Service (IRS) administrative ruling treating the sale of partnership interests as a sale of assets the partnership uses in a U.S. trade or business, thereby subjecting the resulting gain to taxation as income effectively connected to a U.S. trade or business.

  • Donating Art and Collectibles - A Discussion of Important Factors
    Donating Art and Collectibles - A Discussion of Important Factors8/22/2017Gary Castle and Jeffrey Perelman, Anchin’s Art Group

    As opposed to selling art, which results in capital gains tax, or keeping art in the family, which may result in estate or gift taxes, donating art will bring a federal and possibly a state tax deduction. 

  • How Grandparents Can Care For Future Generations in a Tax-Advantaged Way
    How Grandparents Can Care For Future Generations in a Tax-Advantaged Way8/22/2017Jane Bernardini, Tax Partner, Anchin Private Client

    Grandparents that provide financial support for their grandchildren should be aware that there are certain tax advantages available to them.

  • Alternatives to a Prenuptial Agreement
    Alternatives to a Prenuptial Agreement8/22/2017Lydia Vercelli, Tax Director, Anchin Private Client

    In this day and age when the divorce rate is trending up, one can never be too prepared. In the absence of certainty, planning for the unknown and learning your options are the next best thing.

  • Maximizing Your Inheritance Value
    Maximizing Your Inheritance Value8/21/2017Published by Commercial Observer Anchin Partner Featured: Robert S. Gilman, CPA, CGMA

    Robert Gilman, Co-Practice Leader of Anchin's Real Estate Group, explains how to determine the best assets to transfer, the potential tax liability and the possibilities for discounts greater than what you might have otherwise expected to pay.

  • New York Employers Must Offer Paid Family Leave in 2018
    New York Employers Must Offer Paid Family Leave in 20188/16/2017

    Beginning in 2018, New York will join three other states that offer paid family leave, so that employees can more readily attend to matters such as the birth of a child or health issues.

  • New York State Alcoholic Beverage Production Credit
    New York State Alcoholic Beverage Production Credit8/15/2017Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    The New York State Department of Taxation and Finance has expanded the applicability of the Alcoholic Beverage Production tax credit (formerly known as the Beer Production Credit).  For tax years beginning after December 31, 2015, the credit is now available to registered distributors that produce beer, cider, wine and liquor.

  • Anchin Private Client Wins NYSSCPA Family Office Cup for Second Consecutive Year
    Anchin Private Client Wins NYSSCPA Family Office Cup for Second Consecutive Year8/14/2017

    Anchin Private Client, the preeminent accounting, tax and consulting firm for high net worth individuals, families, and family offices has captured the New York State Society of CPAs’ annual Family Office Cup for the second consecutive year. Anchin Private Client, a specialized group within New York-based accounting firm Anchin, Block & Anchin LLP, developed the winning presentation based on the topic of “Family Legacy.”

  • Suit Over Breach of Contract Stayed Pending Arbitration
    Suit Over Breach of Contract Stayed Pending Arbitration8/3/2017Anchin's Litigation, Forensic and Valuation Services Group

    When entering into a contract that contains a provision that requires arbitration for the resolution of disputes, the involved parties have, in fact, chosen to utilize an alternative dispute resolution to resolve conflicts instead of courtroom litigation.  However, courts are supportive of arbitration as a means for resolving disputes and try, wherever possible, to uphold arbitration agreements.

  • Art and Other Collectibles - Tax Consequences
    Art and Other Collectibles - Tax Consequences7/31/2017Jeffrey Schwartz, Tax Director, Anchin Private Client

    Question: Why do you purchase and collect artwork and other collectibles? At first glance, such a question may not seem to have any connection to filing your annual tax return. However, the answers you give will go a long way in determining how any income you receive and expenses you incur as well as any gains or losses upon sale or disposition relating to your collectibles are reported on your tax return. Consider which of the following responses apply to you. Then continue reading to see the tax consequences of your answers.

  • What to Consider When Buying a Boat
    What to Consider When Buying a Boat7/31/2017Russell Shinsky, Partner, Anchin Private Client

    Enjoyment of boating and the life at sea is a passion that is truly timeless. Throughout history, advocates have spanned all ages, professions and tax brackets.  While many find falling in love with boating to be almost automatic, making the decision to own a boat requires careful consideration. 

  • The Remodeling of the Luxury Home
    The Remodeling of the Luxury Home7/31/2017Jared Feldman, Co-Leader, Anchin Private Client

    The accumulation of wealth is often followed by the acquisition of more than one luxury property.  Spending time and entertaining guests at a vacation or primary home becomes a source of pride and enjoyment for many families. To maximize their enjoyment in the time spent at each property, there is a trend of families reimagining the design of the luxury home, and remodeling it based on the latest trends.

  • Haven’t Updated Your Estate Plan in a While? It’s time.
    Haven’t Updated Your Estate Plan in a While? It’s time.7/26/2017Published by The Wall Street Journal Anchin Partner Quoted: Jared Feldman, CPA

    Co-Leader of Anchin Private Client, Jared Feldman, discusses the financial complexity and emotional issues around estate planning.

  • Will Millennials Be Ready for the Great Wealth Transfer?
    Will Millennials Be Ready for the Great Wealth Transfer?7/18/2017Published by U.S. News & World Report Anchin Partner Quoted: Jared Feldman, CPA

    Co-Leader of Anchin Private Client, Jared Feldman, comments on the different approaches families take to educating their children about wealth and the importance of preparation.

  • Key New York City Tax Breaks Extended
    Key New York City Tax Breaks Extended7/12/2017Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    Valuable tax breaks for New York City businesses and developers were extended as part of New York State Assembly Bill 40001, enacted into law on June 29, 2017. The State's new omnibus bill renewed and extended programs that provide attractive financial incentives for businesses to remain in or relocate to Lower Manhattan and the outer boroughs.

  • Anchin is Proud to be a Top Donor of City Harvest Skip Lunch Fight Hunger
    Anchin is Proud to be a Top Donor of City Harvest Skip Lunch Fight Hunger7/11/2017

    Anchin is proud to expand its charitable initiatives through City Harvest's Skip Lunch Fight Hunger Campaign. 

  • Soup Giant Campbells Enters Plant-Milk Market With $700 Million Purchase Of Pacific Foods
    Soup Giant Campbells Enters Plant-Milk Market With $700 Million Purchase Of Pacific Foods7/11/2017Published by Plant Based News Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, highlights the growing trend toward organic and plant-based foods.

  • Proposed Carried Interest Bills Still Alive
    Proposed Carried Interest Bills Still Alive7/10/2017Jeffrey I. Rosenthal, Partner-in-Charge, and E. George Teixeira, Tax Partner, Financial Services Practice

    Earlier this year, we shared information with you about several proposed bills that would increase taxes due on investment performance allocations, commonly known as carried interest. Carried interest is the share of profits that fund managers receive in exchange for managing investments. The controversy over carried interest arises because the current tax rules allow managers to pay taxes on portions of the carried interest allocation at the (long term) capital gains rate rather than the higher tax rate that normally applies to ordinary income.

  • Arbitrator’s Award Over Gas Sensors Sold During ‘Earn Out’ Period Confirmed
    Arbitrator’s Award Over Gas Sensors Sold During ‘Earn Out’ Period Confirmed7/6/2017Anchin's Litigation, Forensic and Valuation Services Group

    Although arbitration awards can be challenged in court, these awards will only be overturned by the court in rare and limited cases. Courts will vacate or refuse to confirm an arbitration award if the award is the product of fraud, corruption, or serious misconduct by the arbitrator.

  • It’s Not Too Late to Amend Your 2016 Tax Return for the R&D Tax Credit
    It’s Not Too Late to Amend Your 2016 Tax Return for the R&D Tax Credit7/5/2017Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    Recently, the IRS issued interim guidance on how eligible small businesses can benefit from a new provision that enables them to apply their Section 41, Research and Development tax credit against their payroll tax liability instead of their income tax liability, allowing qualified companies to start using the credits before becoming profitable. 

  • Utilizing a Roth IRA in Your Estate Plan
    Utilizing a Roth IRA in Your Estate Plan6/30/2017Fred Barotz, Tax Director, Anchin Private Client

    Roth IRAs have long been a popular tool for individuals to save for retirement, but how many people are aware that they can also be used as a key component of an estate plan?

  • How to Minimize Estate Issues
    How to Minimize Estate Issues6/30/2017Tamir Dardashtian, Tax Principal, Anchin Private Client

    In recent years, the passing of pop culture icons has brought attention to the issue of estate matters.  Michael Jackson’s death in 2009 posed an interesting estate valuation issue. 

  • How to Protect Your Digital Life After You’re Gone
    How to Protect Your Digital Life After You’re Gone6/30/2017Michael Rudegeair, Anchin Private Client

    With so much personal information stored online, it is crucial that families organize a coordinated and consistent strategy to ensure that their legacy and assets are preserved and handled as intended.

  • 1031 'Like-Kind' Exchanges Are Under Fire Again
    1031 'Like-Kind' Exchanges Are Under Fire Again6/29/2017Published by Financial Advisor Magazine Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

    Co-Leader of Anchin's Real Estate Industry Group, Robert Gilman, provides clear context as to why 1031 exchanges are valuable to real estate investors.

  • Anchin Announces Winners of 2017 New York Construction Awards
    Anchin Announces Winners of 2017 New York Construction Awards6/22/2017Published by Crain's New York Business

    Anchin Block & Anchin LLP, host of the annual New York Construction Awards, awarded innovators, leaders and rising stars in the construction, architecture and engineering industries on June 14, 2017. This year’s winners were announced at an elegant ceremony at Bloomberg L.P. in New York City.

  • Tax Developments Could Place Chill on Real Estate Deal Flow
    Tax Developments Could Place Chill on Real Estate Deal Flow6/19/2017Published by Commercial Observer Anchin Partner Featured: Robert S. Gilman, CPA, CGMA

    Robert Gilman, Co-Practice Leader of Anchin's Real Estate Group, discusses the proposed changes to how carrried interest is taxed.

  • Your Child’s Tuition Is Paid While You’re in Tahiti
    Your Child’s Tuition Is Paid While You’re in Tahiti6/16/2017Published by The New York Times Anchin Partner Quoted: Jared Feldman, CPA

    Co-Leader of Anchin Private Client, Jared Feldman, explains how high-net worth individuals can best manage their personal affairs while on extended vacations.

  • How Other Grocers Must Respond To Amazon Acquisition Of Whole Foods
    How Other Grocers Must Respond To Amazon Acquisition Of Whole Foods6/16/2017Published by Investor's Business Daily Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, explains what the takeover means for other brick-and-mortar grocers.

  • Amazon swallows Whole Foods, and supermarkets blanch
    Amazon swallows Whole Foods, and supermarkets blanch6/16/2017Published by CBS MoneyWatch Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, discusses the impact of the $13.7 billion deal.

  • Space exploration: The solutions to land scarcity
    Space exploration: The solutions to land scarcity6/9/2017Published by Real Estate Weekly Written by Anchin Partner: Marc Wieder, CPA

    Marc Wieder, Co-Practice Leader of Anchin's Real Estate Group, explains some of the latest development trends designed to combat this issue.

  • Food for Thought: State of the Food and Beverage Industry Event 2017
    Food for Thought: State of the Food and Beverage Industry Event 20176/8/2017

    Anchin's eleventh annual State of the Food and Beverage Industry Event, devoted to issues facing food and beverage manufacturers, distributors and retailers, was held on June 8, 2017 at Club 101 on Park Avenue.  The results of Anchin's annual industry survey were presented by Greg Wank, Leader of Anchin's…

  • A PepsiCo/Vita Coco Deal Would Reshape Coconut Category
    A PepsiCo/Vita Coco Deal Would Reshape Coconut Category6/6/2017Published by BevNET.com Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank's assessment of what could be another billion-dollar acquisition of an entrepreneurial beverage company by a strategic giant

  • Anchin Launches Outsourced Accounting Services Group
    Anchin Launches Outsourced Accounting Services Group6/1/2017

    Anchin has announced the launch of its Outsourced Accounting Services (OAS) Group.

  • Trends in Portfolio Diversification
    Trends in Portfolio Diversification5/30/2017Daniel Torcasi, Anchin Private Client

    Real estate, private equity and hedge funds were once a main haven for investors who were looking to diversify their portfolios, but today’s high net worth families are also looking to other asset classes such as cryptocurrencies, farmland and timber to invest their money.

  • The Pitfalls of Keeping the House
    The Pitfalls of Keeping the House5/30/2017Mela Garber, Leader, Matrimonial Advisory Group

    One of the most common questions during a divorce is “Who gets the house?” Though maintaining the ownership of the family home may be the desired result, there are potential financial burdens that should be considered before making this decision.

  • When Pursuing Your Passion for Wine is a Good Investment
    When Pursuing Your Passion for Wine is a Good Investment5/30/2017Oxana Olach, Anchin Private Client

    While art, comics, classic cars, and even film financing are all areas where an enthusiast’s investment could yield personal fulfillment as well as financial gains, wine continues to be among the most popular passion investment vehicles.

  • Court Denies Plaintiff’s Motion to Set Aside Jury Verdict
    Court Denies Plaintiff’s Motion to Set Aside Jury Verdict5/30/2017Anchin's Litigation, Forensic and Valuation Services Group

    Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group is often retained to determine damages in cases involving a breach of contract, a business interruption, a personal injury, a wrongful termination, a wrongful death, or other cases where damages are incurred by one party as a result of the actions of another party.

  • SEC Clarifies Three Confusing Situations For The Custody Rule
    SEC Clarifies Three Confusing Situations For The Custody Rule5/25/2017Jeffrey I. Rosenthal, Partner-in-Charge, and Peter L. Berlant, Partner, Financial Services Practice

    The SEC’s Custody Rule continues to be a headache for registered investment advisers. The conditions are so unclear, it’s easy to inadvertently trigger custody rule violations. To help advisers adjust, the SEC recently issued clarification for three confusing situations under the rule.

  • New Jersey Angel Investor Tax Credit
    New Jersey Angel Investor Tax Credit5/24/2017Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    New Jersey has amended and expanded the rules for claiming the Angel Investor Tax Credit. The Angel Investor Tax Credit provides for a tax credit equal to ten percent (10%) of the qualified investment made by a taxpayer in a New Jersey emerging technology business.

  • Anchin Announces Winners of 2017 New York Construction Awards
    Anchin Announces Winners of 2017 New York Construction Awards5/24/2017Published by MarketWatch

    Anchin Block & Anchin LLP, host of the annual New York Construction Awards, has announced this year's winners.

  • Are you a member of the Sandwich Generation?
    Are you a member of the Sandwich Generation?4/28/2017Anchin Private Client Leaders, Jared Feldman and Ehud "Udi" Sadan

    Five critical steps for adult children to take when handling the financial affairs of their parents

  • Staying Cyber Safe While Traveling Outside of Your Network
    Staying Cyber Safe While Traveling Outside of Your Network4/28/2017Anthony Bracco, CPA/CFF, CFE, CVA, CGMA, Partner and Leader, Litigation, Forensic and Valuation Services Group

    A guide for understanding criminal infiltration tactics, including methods to avoid potential breaches to help achieve safe, secure device usage

  • White House Tax Reform Plan
    White House Tax Reform Plan4/27/2017Clarence Kehoe, Leader, Anchin's Tax Department

    Yesterday, President Trump released a one page summary of his administration’s view of the principles that should guide tax reform.

  • New York Announces Passage of State Budget
    New York Announces Passage of State Budget4/25/2017Clarence Kehoe, Leader, Anchin's Tax Department

    Governor Andrew M. Cuomo announced the passage of the 2018 State Budget (“Budget”) which includes some interesting tax provisions.

  • To make money, restaurants need to think beyond the plate
    To make money, restaurants need to think beyond the plate4/24/2017Published by Crain's New York Business Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Leader of Anchin's Food and Beverage Practice, on the benefits of serving "Fast-Casual"

  • Gray Divorce: The Financial Challenges and Opportunities
    Gray Divorce: The Financial Challenges and Opportunities4/20/2017Published by U.S. News & World ReportAnchin Principal Quoted: Mela Garber, CDFA

    Mela Garber, Leader of Anchin's Matrimonial Advisory Group, explains why some older couples may separate and advises women who married young and may not have financial experience to work with a financial planner.

  • Decision-Making Strategies for Consumer Brands
    Decision-Making Strategies for Consumer Brands 4/14/2017Greg A. Wank, Partner and Practice Leader, Food and Beverage Industry Group

    Last month, over 80,000 innovators attended Expo West, a gathering of industry minds focused on the development and production of natural, organic, and healthy products. Anchin joined a panel of experts from Whipstitch Capital, The Giannuzzi Group, Force Brands, REBBL, KeVita, and SPINS to discuss successful strategies for decision-making about Consumer Brands.

  • Arbitration Compelled After Parties Did Not Try to Arbitrate in Good Faith
    Arbitration Compelled After Parties Did Not Try to Arbitrate in Good Faith4/14/2017Anchin's Litigation, Forensic and Valuation Services Group

    Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group often serve as arbitrators. Alternative dispute resolution is an increasingly popular alternative to traditional litigation. Courts are very reluctant to allow parties to an agreement to litigate if an agreement between the parties requires that disputes be arbitrated.

  • Key aspects of 421a remain foggy
    Key aspects of 421a remain foggy4/12/2017Published by The Real Deal Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

    Co-Leader of Anchin's Real Estate Industry Group, Robert Gilman, comments on the newly revived 421a developer tax exemption, now called “Affordable New York”

  • SEC Identifies Top 5 Compliance Issues Found in OCIE Examinations
    SEC Identifies Top 5 Compliance Issues Found in OCIE Examinations4/6/2017Jeffrey I. Rosenthal, Partner-in-Charge, and Peter L. Berlant, Partner, Financial Services Practice

    Call it a wake-up call for registered investment advisers—the Securities and Exchange Commission (SEC) issued a Risk Alert, highlighting the top five compliance issues found in deficiency letters sent to SEC-registered investment advisers.

  • Husband Fails to Show Circumstance Change and Downward Modification of Support Denied
    Husband Fails to Show Circumstance Change and Downward Modification of Support Denied4/4/2017Anchin's Litigation, Forensic and Valuation Services Group

    Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group is often retained to assist attorneys who are handling matrimonial and family law matters that involve financial considerations. At times, counsel requires our assistance in arguing against one spouse’s attempt to have a downward modification in maintenance and/or child support.

  • When is it time to update your estate plan?
    When is it time to update your estate plan?3/31/2017Michael Rudegeair, Senior Manager, Anchin's Trust and Estates Services Group

    Because it is implied that the documents are supposed to outlive the deceased, many people wrongly assume that they just need to create a set of documents one time and not review them again.

  • Collectibles: Alternative Investing Beyond Private Equity and Hedge Funds
    Collectibles: Alternative Investing Beyond Private Equity and Hedge Funds3/31/2017Gary S. Castle, Principal, Anchin Private Client

    Collectible items are also a type of alternative investment — and, like all the others — come with their own rules and considerations.

  • How to Prepare to Care for a Sick Spouse
    How to Prepare to Care for a Sick Spouse3/31/2017Mela Garber, Tax Principal, Anchin Private Client

    At a time when people are at their most vulnerable, they are often expected to make some of the most difficult financial decisions. This is why putting a plan in place when all parties are healthy is so important.

  • Tax Update: Proposed Bill Closing Tax Loophole Could be a Boon for Connecticut; IRS Recent Audit Targeting Management Fee Waivers
    Tax Update: Proposed Bill Closing Tax Loophole Could be a Boon for Connecticut; IRS Recent Audit Targeting Management Fee Waivers3/30/2017E. George Teixeira, Tax Partner and Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    The Connecticut state legislature earlier this year proposed a bill that would slap a new 19 percent tax on investment management services fees, also known as “carried interest.” Similar bills are planned, or have been introduced, in other states including New York, New Jersey, Massachusetts and Rhode Island. The Connecticut bill would only be effective if similar bills are passed in these other states.

  • Petition to Vacate Arbitration Award Dismissed
    Petition to Vacate Arbitration Award Dismissed3/16/2017Anchin's Litigation, Forensic and Valuation Services Group

    Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group often serve as arbitrators. Alternative dispute resolution is an increasingly popular alternative to traditional litigation. Although the courts may be asked to review the validity an arbitrator’s award, unless there are unusual and extenuating circumstance, they will rarely overturn such awards.

  • Connecticut Bill Seeking 19% State Surcharge on Hedge Funds Has a Twist
    Connecticut Bill Seeking 19% State Surcharge on Hedge Funds Has a Twist3/9/2017Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    Bruce McGuire, president of the Connecticut Hedge Fund Association, was attending the Managed Funds Association annual meeting earlier this year in Miami when he started chatting with some of his colleagues about the potential impact of recently proposed legislation in Connecticut that would slap a 19 percent surcharge on hedge funds based in the Nutmeg State.

  • Conflicting Expert Opinions Preclude Summary Judgment Dismissal
    Conflicting Expert Opinions Preclude Summary Judgment Dismissal3/7/2017Anchin's Litigation, Forensic and Valuation Services Group

    Frequently, as part of our litigation, forensic and valuation services practice, we are called upon to issue expert reports. As can be imagined, it is common that the opinions expressed in the expert reports for each side are very different (reasonable professionals can disagree, right?). However, it is interesting to consider how much of an impact those different opinions can have on the case process.

  • Trusting Leadership: Member Spotlight with Christopher Noble
    Trusting Leadership: Member Spotlight with Christopher Noble3/7/2017This article was published by Thuzio Executive Club (TEC) . Anchin Partner Featured: Christopher J. Noble, CPA, CGMA

    Technology Practice Leader Christopher Noble featured in a member spotlight by Thuzio Executive Club

  • Sharp turns: Unexpected twists in the 2017 tax filing season
    Sharp turns: Unexpected twists in the 2017 tax filing season3/7/2017This article was published by Accounting Today. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman recommends considering an extension, in case pending rule changes are to the filer's benefit.

  • Tax Debt Could Cost You Your Passport
    Tax Debt Could Cost You Your Passport3/7/2017Published by TheStreet Anchin Partner Quoted: Barry Weisman, CPA

    Barry Weisman, Tax Partner, guides us through the process to that extreme eventuality.

  • Call for Entry
    Call for Entry3/1/2017

    Nominations are open for the annual New York Construction Awards, presented by Anchin in cooperation with the New York Building Congress (NYBC) and industry partners, the American Council of Engineering Companies of New York (ACEC-NY) and the General Contractors Association of New York (GCA).

  • How Uncle Sam Factors into Your Wedding Plans
    How Uncle Sam Factors into Your Wedding Plans2/28/2017Anchin Private Client Center

    Couples will have to factor in how their taxes will be affected after they change their status from single to married on their tax forms.

  • Preservation of Your Art Collection
    Preservation of Your Art Collection2/28/2017Anchin Private Client Center

    Art has become an increasingly popular investment vehicle in recent years and as with any investment, it must be protected.

  • New Foreign Bank and Financial Accounts (FBAR) Filing Deadlines
    New Foreign Bank and Financial Accounts (FBAR) Filing Deadlines2/28/2017Anchin Private Client Center

    Those who have a financial interest in or signature authority over a foreign financial account may be required to report the account annually to the Department of Treasury.

  • How Big Is Sixth's Circuit's Attack On IRS Substance Over Form Rule?
    How Big Is Sixth's Circuit's Attack On IRS Substance Over Form Rule?2/28/2017Published by Forbes Anchin Partner Quoted: Barry Weisman, CPA

    Barry Weisman, Tax Partner, reacts to the Sixth Circuit Summa Holdings ruling.

  • Facepalm! 7 Tax Mistakes Likely to Invite an Audit
    Facepalm! 7 Tax Mistakes Likely to Invite an Audit2/23/2017This article was published by U.S. News & World Report. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Paul Gevertzman, Tax Partner, cautions us to avoid simple mistakes that might trigger scrutiny and explains the risk of writing off a small business loss the IRS might not see as deductible.

  • How to Avoid Tax Scams
    How to Avoid Tax Scams2/22/2017This article was published by U.S. News & World Report. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner, Paul Gevertzman, highlights the foolishness of sending information via e-mail rather than secure upload as well as the IRS' improving ability to spot false returns filed to scam a refund.

  • Anchin Recognized as one of the Best Companies to Work for in New York State for the Tenth Consecutive Year
    Anchin Recognized as one of the Best Companies to Work for in New York State for the Tenth Consecutive Year2/21/2017

    Anchin, a leading assurance, tax and advisory firm, is pleased to announce that, for the tenth consecutive year, it has been named one of the Best Companies to Work for in New York State for 2017.

  • Match Group CEO Wins Tax Case By Arguing His Heart Was In Texas With His Dog
    Match Group CEO Wins Tax Case By Arguing His Heart Was In Texas With His Dog2/19/2017Published by Forbes Anchin Partner Quoted: Barry Weisman, CPA

    Tax Partner, Barry Weisman, explains how Greg Blatt's dog was the evident tie-breaker in the decision.

  • Defendant’s Participation in Litigation Waives Right to Compel Arbitration
    Defendant’s Participation in Litigation Waives Right to Compel Arbitration2/16/2017Anchin's Litigation, Forensic and Valuation Services Group

    In our litigation, forensic and valuation services practice, we are often involved in cases where there is a question of whether or not an arbitration provision in an agreement can be enforced.

  • Rechler wonders: Maybe the dysfunctional Port Authority should be dismantled?
    Rechler wonders: Maybe the dysfunctional Port Authority should be dismantled?2/9/2017This article was published by The Real Deal.

    Anchin Construction and Development Forum keynote speaker, RXR Realty CEO & Chairman Scott Rechler, on the state of the Port Authority

  • No bills to build: The construction lending environment is tighter than ever
    No bills to build: The construction lending environment is tighter than ever2/9/2017This article was published by The Real Deal.

    Anchin Construction and Development Forum panelists on how unwelcoming the market is to newcomers

  • Five Technology Innovations Shared
    Five Technology Innovations Shared2/9/2017

    At the 2017 Anchin Construction & Development Forum, Mark Boekenheide of Hudson Yards, Jonathan Drescher of The Durst Organization, James Hannah of Bright Power, AJ Pires of Alloy, Peter Rosenthal of Savanna and Mitchel Simpler of Jaros, Baum & Bolles discussed the exciting and often risky topic of innovation as it relates to construction, design and development in and around NYC.

  • Anchin Construction & Development Forum
    Anchin Construction & Development Forum2/9/2017

    The third annual Anchin Construction & Development Forum was held on February 9, 2017 at the TKP New York Conference Center. Hundreds of incredible, high-level professionals whose work greatly impacts the real estate, construction, architecture and engineering landscapes of the greater New York City area, came together to discuss trends, forecasts, ideas, innovations and other relevant topics.

  • Cuomo Rebrands Start-Up NY
    Cuomo Rebrands Start-Up NY2/8/2017Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    At the end of January, Governor Cuomo announced proposed changes to Start-Up NY, an economic development program created in 2013 to provide a 10 year tax-free environment for companies looking to open or expand business on or near college campuses, primarily in upstate New York. The program received widespread criticism, questioning both its fairness and its effectiveness.

  • Arbitration Panel’s Award Determined to be a Reasoned Award
    Arbitration Panel’s Award Determined to be a Reasoned Award2/8/2017Anchin's Litigation, Forensic and Valuation Services Group

    When a member of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group serves as an arbitrator, one of the things he or she needs to consider is whether his or her decision should be contained in a simple award or in a reasoned award; if the latter, how much detail needs to be included in the reasoned award.

  • The Government is Holding Millions in Unclaimed Retirement Money
    The Government is Holding Millions in Unclaimed Retirement Money2/7/2017Published by The Fiscal Times Anchin Partner Quoted: Barry Weisman, CPA

    Barry Weisman, Tax Partner, illustrates how searches in the wrong state can leave large retirement accounts unclaimed.

  • 2017 SEC Examination Priorities Feature Three New Areas of Focus
    2017 SEC Examination Priorities Feature Three New Areas of Focus2/2/2017Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    As they have done annually for the last several years, the Securities and Exchange Commission has announced their Examination Priorities.

  • How catering to ethnic populations can spice up shopping and profits
    How catering to ethnic populations can spice up shopping and profits2/2/2017Published by Food Dive Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Food and Beverage Industry Practice Leader, Greg Wank, shares how catering to ethnic populations can help drive grocery profits.

  • Make Sure Your Business is on the Path to Comply with PATH
    Make Sure Your Business is on the Path to Comply with PATH1/31/2017Anchin Private Client

    In December 2015, President Obama signed the Protecting Americans from Tax Hikes (PATH) Act. The purpose of the legislation was in part to protect businesses and individuals from tax fraud by lengthening the time the IRS has to review claims. The law also extends some tax credits for businesses and working families.

  • Avoid Letting Two Homes Become One Big Problem at Tax Time
    Avoid Letting Two Homes Become One Big Problem at Tax Time1/31/2017Anchin Private Client

    Having a second home can be a source of joy and relaxation, yet it can also increase stress, especially to future tax bills if households are not careful.

  • Protect Yourself Against Scams This Tax Season
    Protect Yourself Against Scams This Tax Season1/31/2017Anchin Private Client

    Tax-payers are encouraged to be extra vigilant this year about IRS scams. Despite a raid in October 2016 in which 70 people in an international call center were charged with fraud, tax scams remained the most common type of scam last year according to a report by the Better Business Bureau (BBB).

  • Bitcoin: It’s Not Just a Currency, It’s an Asset Class
    Bitcoin: It’s Not Just a Currency, It’s an Asset Class1/31/2017Anchin Private Client

    Individuals may know Bitcoin as a volatile digital-based currency that has been attracting headlines, but in the IRS’ eyes, Bitcoin is considered property.  Commentators have noted that Bitcoin represents a new type of asset class. For investors and philanthropists, the IRS classification of Bitcoin as an asset class (and not as a currency) may provide unique gifting and estate planning opportunities.

  • The Introduction of Gen Z
    The Introduction of Gen Z1/26/2017Michael Belfer, Partner and Practice Leader, Public Relations and Advertising Industry Group

    By 2020, Generation Z (“Gen Z”), individuals born in 1996 or later, will account for one-third of the United States population. We’ve charted the unique factors and influences that categorize today’s generation. 

  • As Curtain Falls on Deferral Era, Investment Fund Managers Brace for Changes
    As Curtain Falls on Deferral Era, Investment Fund Managers Brace for Changes1/25/2017Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    This is not a test. It’s been a long time coming, but the deferral era is about to end. Not with a bang or a whimper, but investment fund managers are scrambling to ensure that any significant amount of pre-2009 deferred fees owed to them are payable during the next 12-13 months. Their livelihoods depend on it.

  • Follow the Bouncing Ball: Newly Revised Cybersecurity Regulations Scheduled for March 1 in New York
    Follow the Bouncing Ball: Newly Revised Cybersecurity Regulations Scheduled for March 1 in New York1/17/2017Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    Newly revised cybersecurity regulations for financial service companies in New York are scheduled to take effect March 1, 2017. The effective date for the new rules follows a two-month delay, as the New York State Department of Financial Services (“NYDFS”) made changes to the proposed regulation due to industry concerns.

  • How Amazon Go will transform the grocery experience
    How Amazon Go will transform the grocery experience1/9/2017Published by Retail Dive Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Food and Beverage Industry Practice Leader, Greg Wank, remarks on Amazon's venture into checkout-free grocery shopping.

  • Important Changes for the 2017 Tax Filing Season for all Calendar Year Law Firms
    Important Changes for the 2017 Tax Filing Season for all Calendar Year Law Firms1/5/2017Russell B. Shinsky, CPA, CGMA and  Steven D. Lando, CPA Anchin's Law Firms Industry Group

    The Highway Act legislation gave rise to sweeping changes for the 2017 tax season due dates for filing both original tax returns and extensions.

  • Prejudgment Interest Computed from Date of Damages Verdict, Not From Date of Liability Stipulation
    Prejudgment Interest Computed from Date of Damages Verdict, Not From Date of Liability Stipulation1/3/2017Anchin's Litigation, Forensic and Valuation Services Group

    The litigation consultants and forensic accountants in Anchin’s Litigation, Forensic and Valuation Services Group are often confronted with the calculation of prejudgment interest. When dealing with the issue of prejudgment interest, a critical question that must be answered is from what date is the prejudgment interest computed.

  • What is fueling grocery consolidation?
    What is fueling grocery consolidation?1/3/2017Published by Food Dive Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Food and Beverage Industry Practice Leader, talks about large players in the space competing for regional and specialty acquisitions.

  • 2017 TAX CALENDAR
    2017 TAX CALENDAR1/1/2017

    This summary of when various tax-related forms, payments and other actions are due will help taxpayers make sure they don’t miss any important 2017 tax deadlines.

  • Preparing for Revised Form ADV Taking Effect in 2018
    Preparing for Revised Form ADV Taking Effect in 201812/29/2016Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    Registered investment advisers have started to brace for 2017. They’re creating new offerings and expanding the breadth of their portfolios. However, investment advisers need to think well beyond next year, to the first quarter of 2018. Their livelihoods depend on it.

  • Qualified Small Business Stock: A Gem for Investors and a Marketing Tool for Entrepreneurs
    Qualified Small Business Stock: A Gem for Investors and a Marketing Tool for Entrepreneurs12/28/2016James Ferrara, Tax Partner, Food and Beverage Industry Group

    In this day and age, investors (Venture Capitalists, Private Equity, and Angel Investors) are concerned about maximizing their internal rate of return (IRR). Maximization of this important metric cannot be accomplished without minimizing the potential tax leakage of an investment. One feasible planning tool that can be used to achieve this goal is Internal Revenue Code (IRC) §1202.

  • 2016 Real Estate Year-End Tax Planning Update
    2016 Real Estate Year-End Tax Planning Update12/21/2016Jeffrey Bowden, Tax Principal, Real Estate Industry Group

    Along with the results of the 2016 presidential election comes a dramatic shift in the political priorities of those in power and a strong likelihood that drastic tax reform lies ahead in 2017. While many of the details are still unknown and may not be fully actualized and actionable until well into the next year, getting a head start on planning and understanding the impact of various potential scenarios as early as possible is essential.

  • Make 2017 a Happier New Year by Implementing Last-Minute 2016 Tax-Saving Tips
    Make 2017 a Happier New Year by Implementing Last-Minute 2016 Tax-Saving Tips12/20/2016

    The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2016 tax liability — you just must act by December 31. Here are five actions to consider taking.

  •  The Value of Life Insurance if Trump Repeals the Federal Estate Tax
    The Value of Life Insurance if Trump Repeals the Federal Estate Tax12/19/2016E. Richard Baum, Tax Partner, Anchin Private Client

    A few things to consider before making any hasty cancelation decisions

  • Planning with Charitable Gift Annuities: The Gifts that Keep on Giving
    Planning with Charitable Gift Annuities: The Gifts that Keep on Giving12/19/2016Jeffrey Perelman, Tax Partner, Anchin Private Client

    Charitable annuities continue to be a valuable tax & financial option for many individuals.

  • Deadline Extended for ACA Information Reporting to Employees
    Deadline Extended for ACA Information Reporting to Employees12/16/2016

    The IRS has again extended the deadline for employers subject to the Affordable Care Act’s (ACA’s) information reporting requirements to meet their obligations to employees.

  • Financial Services Companies Brace for  New Cybersecurity Requirements
    Financial Services Companies Brace for New Cybersecurity Requirements12/14/2016Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    The New York State Department of Financial Services is taking the bull by the horns when it comes to how regulated financial services companies protect themselves and their customers from cyberattacks.

  • What You Need to Know About Sales and Use Tax
    What You Need to Know About Sales and Use Tax12/13/2016Sharon Ackerman, Director, Tax Controversy Services Group

    An increasing amount of building owners and management companies are being audited by states for Sales and Use tax compliance. These audits are resulting in firms being assessed for thousands of dollars in taxes, interest, and, in some instances, penalties.

  • What to Know Before Giving and Accepting Money From Relatives
    What to Know Before Giving and Accepting Money From Relatives12/7/2016Published by U.S. News & World Report Anchin Partner Quoted: Clarence G. Kehoe, CPA

    Clarence Kehoe, Anchin's Tax Leader, discusses the emotional issues related to unequal gifting, as well as how to strategically use 529 plans to make a gift stretch farther.

  • DOL’s Overtime Rule Blocked by U.S. District Court
    DOL’s Overtime Rule Blocked by U.S. District Court12/5/2016

    Just over a week before the U.S. Department of Labor’s (DOL’s) new overtime rule was scheduled to go into effect, a federal judge blocked it. The rule was set to make dramatic changes to the determination of which executive, administrative and professional employees are entitled to overtime pay under the Fair Labor Standards Act (FLSA).

  • 2016 Financial Services Year-End Tax Planning Alert
    2016 Financial Services Year-End Tax Planning Alert12/5/2016George Teixeira, Partner, Financial Services Practice

    With the election of Donald Trump and a Republican control of Congress, tax reform is expected.

  • Supply Glut, Luxury Boom Are Jeopardizing Brooklyn's Value Play
    Supply Glut, Luxury Boom Are Jeopardizing Brooklyn's Value Play12/5/2016Published by Bisnow Anchin Partner Featured: Marc Wieder, CPA

    On December 2, 2016, Co-Practice Leader of Anchin's Real Estate Industry Group, Marc Wieder, moderated a panel on the Retail & Hospitality Boom at Bisnow's 5th Annual Brooklyn State of the Market.

  • How to Get Your Ex-Spouse's Social Security Benefits
    How to Get Your Ex-Spouse's Social Security Benefits12/1/2016Published by TheStreet Anchin Partner Quoted: Richard H. Stieglitz, CPA

    Anchin Social Security Benefits expert, Richard Stieglitz, points out the odd quirk that lets multiple divorcees pick their benefits based on the highest earning ex-spouse.

  • Planning Ahead by Looking Back and Using the Team of Advisors
    Planning Ahead by Looking Back and Using the Team of Advisors11/29/2016

    High net worth families must always have someone minding the store in order to make sure important items aren’t missed.

  • Election Outcome Likely to Result in Major Tax Law Changes
    Election Outcome Likely to Result in Major Tax Law Changes11/15/2016

    The election of Donald Trump as President of the United States, along with Republicans retaining control of both chambers of Congress, will likely result in an overhaul of the U.S. tax code.

  • CPE for CFO's Recap - November 3, 2016
    CPE for CFO's Recap - November 3, 201611/3/2016

    Anchin’s November 2016 installment of CPE for CFO’s, held on November 3rd...

  • Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding
    Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding11/1/2016

    To Our Business Clients:

    Attached for your convenience is a summary of the tax treatment of certain fringe benefits for payroll tax and income tax reporting purposes, plus detailed information regarding company automobiles and health and accident insurance premiums for S corporations.

  • Fourth-quarter tax strategies
    Fourth-quarter tax strategies10/31/2016Published by Business Jet TravelerAnchin Partner Quoted: Jared Feldman, CPA

    Jared Feldman, Co-Leader of Anchin Private Client, points out some tax issues that may confront high earning individuals.

  • A ‘Seismic Shift’ in the Partnership Audit Rules
    A ‘Seismic Shift’ in the Partnership Audit Rules10/18/2016Published by Accounting Today Anchin Partner Quoted: Barry Weisman, CPA

    Anchin Tax Partner, Barry Weisman, discusses the need to revise procedure because of the rise in multi-tiered partnerships.

  • Special Election Edition: Taxation and Politics
    Special Election Edition: Taxation and Politics10/14/2016Clarence G. Kehoe, Leader, Anchin's Tax Department

    Whether you are voting Democrat, Republican or this year perhaps not at all, there is a good chance that this November’s election results will have a significant impact on our country’s federal tax system.

  • Tax Credits Clarity Provides Great Opportunity for Businesses Regarding Internal Use Software
    Tax Credits Clarity Provides Great Opportunity for Businesses Regarding Internal Use Software10/7/2016Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    On October 3rd, 2016, the Treasury and IRS released final regulations regarding Internal Use Software (“IUS”) expenditures as related to the Section 41 Research & Development (“R&D”) tax credit.

  • Joint ventures: Look before you leap
    Joint ventures: Look before you leap10/7/2016Published by Real Estate WeeklyWritten by Associate Managing Partner: Marc A. Newman, CPA, CGMA

    Partnering up with another construction firm can be beneficial, if you understand the inherent risks with a joint venture. Anchin's Marc Newman tells Real Estate Weekly why it's important to look before you leap.

  • Top Considerations for Educational Donations
    Top Considerations for Educational Donations9/29/2016

    A significant charitable grant can help create a legacy and example for future generations

  • A College Savings Plan Is Also Great for Estate Planning Across Generations
    A College Savings Plan Is Also Great for Estate Planning Across Generations9/29/2016

    A 529 plan can be an especially efficient vehicle for gift-giving to multiple generations with maximal tax efficiency

  • Wills Can Provide for Both Education and Starting out in Business
    Wills Can Provide for Both Education and Starting out in Business9/29/2016

    Planning for the education of your family should be a consideration as part of a will

  • Anchin, Block & Anchin Recognized as Best North American Accounting Firm in Hedgeweek USA Awards
    Anchin, Block & Anchin Recognized as Best North American Accounting Firm in Hedgeweek USA Awards9/23/2016

    New York-based Top 100 accounting and advisory firm Anchin, Block & Anchin LLP has once again been named the Best North American Accounting Firm in the annual Hedgeweek awards. This award reinforces Anchin’s status as a leader in the Financial Services industry.

  • Blame the Banks for All Those Boring Chain Stores Ruining Your City
    Blame the Banks for All Those Boring Chain Stores Ruining Your City 9/22/2016Published by Bloomberg Anchin Partner Quoted: Marc Wieder, CPA

    Marc Wieder, Co-Practice Leader of Anchin's Real Estate Group, explains that some landlords are more concerned with maintaining a high resale value than maintaining steady rent income at all costs.

  • Do’s and Don’ts of Investing in Private Companies
    Do’s and Don’ts of Investing in Private Companies 9/20/2016Published by U.S. News & World Report Anchin Partner Quoted: Jared Feldman, CPA

    Jared Feldman, Co-Leader of Anchin Private Client, advises on the danger of investing based on personal relationships.

  • Structuring Life Insurance Correctly to Fit into a Buy-Sell Agreement
    Structuring Life Insurance Correctly to Fit into a Buy-Sell Agreement8/31/2016E. Richard Baum, Tax Partner, Anchin Private Client

    How it can protect the business and the family

  • Avoiding an Art Collection “Fire Sale”
    Avoiding an Art Collection “Fire Sale”8/31/2016Gary S. Castle, Principal, Anchin Private Client

    Some key planning factors to consider

  • Skipping a Generation - Why and How
    Skipping a Generation - Why and How8/31/2016Tamir Dardashtian, Tax Principal, Anchin Private Client

    Leaving assets to grandchildren might make sense for some estates with multi-generational goals

  • From BigLaw To Your Own Firm: 4 Tips For Legal Startups
    From BigLaw To Your Own Firm: 4 Tips For Legal Startups8/23/2016Published by Law360 Written by Anchin Partner: Russell B. Shinsky, CPA, CGMA

    Russell Shinsky, Chair of Anchin's Law Firms Industry Group, shares advice about starting a law firm.

  • IRS Proposed Regulations Target Gift and Estate Tax Planning Strategies
    IRS Proposed Regulations Target Gift and Estate Tax Planning Strategies8/11/2016

    The IRS has released proposed regulations that would close so-called tax loopholes that many wealthy taxpayers have used to minimize transfer taxes (such as gift and estate taxes) when transferring interests in a closely held family business to relatives.

  • Should I invest in triple-net lease properties?
    Should I invest in triple-net lease properties?8/10/2016Published by Real Estate Weekly Written by Anchin Partner: Marc Wieder, CPA

    Marc Wieder, Co-Practice Leader of Anchin's Real Estate Group, weighs the pros and cons of investing in a property with a triple-net lease.

  • Individual Retirement Accounts: Be Careful What You Invest In
    Individual Retirement Accounts: Be Careful What You Invest In8/8/2016

    To Our Clients and Friends: One item that makes Individual Retirement Accounts (IRAs), whether traditional or Roth, so appealing compared with employer-sponsored 401(k) plans is the variety of available investment choices.

  • The Top 3 Reasons Seniors Claim Social Security Too Early
    The Top 3 Reasons Seniors Claim Social Security Too Early8/7/2016Published by TheStreet Anchin Partner Quoted: Richard H. Stieglitz, CPA

    Richard Stieglitz, Anchin's expert on maximizing Social Security benefits, comments on reasons for early withdrawal.

  • High End Travel Trends
    High End Travel Trends7/29/2016

    Many high net worth travelers are seeking unique experiences that educate, surprise and expand horizons – both abroad and domestically.

  • Philanthropy: An Opportunity to Connect with the NexGen
    Philanthropy: An Opportunity to Connect with the NexGen 7/29/2016

    Growing in popularity among high-net-worth travelers are multigenerational vacations and trips with a philanthropic spin, also known as philantho-travel. Combining the two can be very powerful, both in terms of creating bonds, relaying values, and empowering the next generation.

  • Mixing Business with Pleasure?
    Mixing Business with Pleasure? 7/29/2016

    Many business travelers are making side trips to explore personal interests or spend time with family members in a new place. The number and size of tax deductions will vary depending on the blend of business and pleasure. Here are a few tips to help avoid common pitfalls pertaining to tax deductions.

  • Net Worth Threshold for “Qualified Clients” Increased by SEC
    Net Worth Threshold for “Qualified Clients” Increased by SEC7/28/2016Jeffrey I. Rosenthal, Partner-in-Charge, Financial Services Practice

    The U.S. Securities and Exchange Commission (“SEC”) has decided to increase the net worth test threshold for “qualified clients” effective August 15, 2016.

  • How to Buy Property With a Spouse, Friend or Business Partner
    How to Buy Property With a Spouse, Friend or Business Partner7/21/2016Published by U.S. News & World Report Anchin Partner Quoted: Marc Wieder, CPA

    Marc Wieder, Co-Practice Leader of Anchin's Real Estate Group, points out that in the case of buying property with a spouse, it might be wise to place ownership in the name of the individual contributing the funds for purchase.

  • Additional Transition Relief for Employers Claiming the Work Opportunity Tax Credit
    Additional Transition Relief for Employers Claiming the Work Opportunity Tax Credit7/20/2016Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    Notice 2016-40 expands and extends by three months the transition relief provided in Notice 2016-22 for meeting the 28-day deadline in Section 51(d)(13)(A)(ii) of the Tax Code.

  • How to Strengthen Your Budgeting Efforts
    How to Strengthen Your Budgeting Efforts7/14/2016Published by Gould-Partners.com Anchin Partner Featured: Michael R. Belfer, CPA, CGMA

    Michael Belfer, Public Relations and Advertising Practice Leader, tells Gould + Partners that agencies should keep an eye on performance and adjust their budgets as needed.

  • Balancing risk and reward: A roundtable discussion on fast growth
    Balancing risk and reward: A roundtable discussion on fast growth7/1/2016This article was published by SmartCEO. Anchin Partner Featured: Christopher J. Noble, CPA, CGMA

    Anchin Technology Practice Leader, Christopher Noble, shares his best strategies for managing technology change, attracting A players and bringing outside financing to the table. 

  • Looking Beyond Brexit: Planning for What May Come Next
    Looking Beyond Brexit: Planning for What May Come Next6/30/2016Ehud “Udi” Sadan, Partner, Anchin Private Client;Jared Feldman, Partner, Anchin Private Client;Larry Feibel, Partner, Anchin Private Client

    The chief challenge to consider is the heaping dose of uncertainty that has suddenly been thrust into the political and economic global scene. Uncertainty is unsettling.

  • 6 Facts to Know Before Investing in a Restaurant
    6 Facts to Know Before Investing in a Restaurant6/29/2016Published by U.S. News & World Report Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Food and Beverage Practice Leader, Greg Wank, recommends looking at a restaurant operator's track record.

  • Tips to Avoid IRS Phone Scams: What You Need to Know
    Tips to Avoid IRS Phone Scams: What You Need to Know6/9/2016

    On Friday, May 20th, the Internal Revenue Service (IRS) sent an internal memo directing all IRS employees to no longer initiate contact with taxpayers by phone. With this in mind, if you get a call from someone claiming to be from the IRS – be wary and do not give out any personal information.

  • DOL’s final overtime rule brings sweeping changes
    DOL’s final overtime rule brings sweeping changes6/8/2016

    The U.S. Department of Labor (DOL) has released a final provision that makes dramatic changes to the determination of which executive, administrative and professional employees — otherwise known as "white-collar workers" — are entitled to overtime pay under the Fair Labor Standards Act (FLSA).

  • Whaling Attacks Present a Larger Challenge for Businesses
    Whaling Attacks Present a Larger Challenge for Businesses6/3/2016David J. Emmer, Anchin's Chief Information Officer

    Phishing schemes have become increasingly clever and complicated. A new trend called Whaling Attacks has started to hit businesses and their executives.

  • How the Wealthy Teach Children about the Value of Money
    How the Wealthy Teach Children about the Value of Money6/1/2016Anchin Private Client Center

    Typically, parents would like to provide a secure future for the next generation.

  • Thinking About “Death” Can Improve Quality of Life
    Thinking About “Death” Can Improve Quality of Life6/1/2016E. Richard Baum, Tax Partner, Anchin Private Client

    Estate planning is critical to generational wealth transfer and preservation strategies.

  • How to Talk About a Prenuptial Agreement
    How to Talk About a Prenuptial Agreement6/1/2016Mela Garber, Tax Principal, Anchin Private Client

    It’s hard to think of a good time to introduce a contractual component to unconditional love.

  • Whaling Attacks Present a Larger Challenge for Businesses and Their Owners
    Whaling Attacks Present a Larger Challenge for Businesses and Their Owners6/1/2016David J. Emmer, Anchin's Chief Information Officer

    Phishing schemes have become increasingly clever and complicated. A new trend called Whaling Attacks has started to hit businesses and their executives.

  • Succession Success
    Succession Success6/1/2016Published by Retail Leader Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Food and Beverage Practice Leader, stresses the importance of deep business understanding across the board when choosing a successor.

  • Is a U.S. ‘Patent Box’ a Good Idea?
    Is a U.S. ‘Patent Box’ a Good Idea?5/19/2016This article was published by CFO.com. Written by Anchin Partner: Yair Holtzman, CPA, MBA, MS, CGMA

    Yair Holtzman, Practice Leader of Anchin's Research and Development Tax Credits Group, Life Sciences Industry Group and Chemicals and Energy Industry Group, shares his thoughts on the proposed "patent box" regime.

  • Want to open a restaurant? Now this funding is available
    Want to open a restaurant? Now this funding is available5/16/2016This article was published by CNBC.com. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Greg Wank, Practice Leader of Anchin's Food and Beverage Industry Group, shares his thoughts on crowdfunding for restaurants, the benefits of restaurant credits to investors and the tendency of entrepreneurs to underestimate startup costs.

  • Financial budgeting: One chance to succeed
    Financial budgeting: One chance to succeed5/16/2016Published by Hedgeweek.com Anchin Partner Featured: Jeffrey I. Rosenthal, CPA, CFP, CGMA

    Jeffrey I. Rosenthal, Partner-in-Charge of Anchin's Financial Services Practice talks about planning a hedge fund launch.

  • Chapter 1: Legal & tax structuring
    Chapter 1: Legal & tax structuring5/16/2016Published by Hedgeweek.comAnchin Partner Quoted: Jeffrey I. Rosenthal, CPA, CFP, CGMA

    Jeffrey I. Rosenthal, Partner-in-Charge of Anchin's Financial Services Practice explains some of the criteria for making fund structuring decisions.

  • The organic food revolution that is minting millionaires
    The organic food revolution that is minting millionaires5/6/2016Published by CNBC.com Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Food and Beverage Practice Leader, Greg Wank, observes that consumers are driving a demand for more healthy food firms and cleaner labeling.

  • How to protect your credit when your spouse starts a business
    How to protect your credit when your spouse starts a business4/29/2016Published by CreditCards.com Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax Partner Paul Gevertzman provides solid advice on the use of corporate structures, avoiding personal credit cards and the pluses and minuses of retitling a residence.

  • Assessing Section 199 and IRS Released Proposed Regulations to Determine Deduction Eligibility
    Assessing Section 199 and IRS Released Proposed Regulations to Determine Deduction Eligibility4/14/2016Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    Designed to protect jobs in the United States manufacturing and related sectors, Section 199, also known as the Domestic Production Activities Deduction ("DPAD"), allows a deduction equal to 9% of the lesser of a taxpayer’s Qualified Production Activities Income ("QPAI") or its taxable income.

  • IRS Emphasizes the Need for Compliance When Claiming Tax Credits
    IRS Emphasizes the Need for Compliance When Claiming Tax Credits4/12/2016Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    This past February, the IRS released its annual "Dirty Dozen" list of warning alerts for 2016 filing season. The Dirty Dozen includes a variety of common scams taxpayers may encounter at any time during the year.

  • Family Financial Meetings Should Have a Place on Your Calendar
    Family Financial Meetings Should Have a Place on Your Calendar4/11/2016Published by Mainstreet.comAnchin Principal Quoted: Mela Garber, CDFA

    Mela Garber, Trust and Estates Services Chair, explains how parents can avoid estate issues with a letter explaining any distribution inequalities to their children.

  • 5 Boomer Tax Traps to Avoid
    5 Boomer Tax Traps to Avoid4/6/2016Published by AARP.com Anchin Partner Quoted: E. Richard Baum, CPA, J.D.

    E. Richard Baum, Tax Partner, touches base on various tax traps for baby boomers such as taxes on municipal bonds, the required minimum distribution and the income level for social security taxability.

  • Stock(ing) Stuffers
    Stock(ing) Stuffers4/1/2016Anchin Private Client Center

    A Year-Round Strategy for Charitable Giving

  • Why You May Need A Prenup
    Why You May Need A Prenup4/1/2016Mela Garber, Tax Principal, Anchin Private Client

    If a prospective couple plans to sign a prenuptial agreement, it’s wise to design the agreement with an estate plan in mind.

  • Last-Minute Moves That Can Trim Your Tax Bill
    Last-Minute Moves That Can Trim Your Tax Bill3/31/2016This article was published by U.S. News & World Report. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Anchin's tax expert, Paul Gevertzman, offers guidance before submitting your tax return.

  • Anchin Private Client appoints Jared Feldman as Co-Practice Leader
    Anchin Private Client appoints Jared Feldman as Co-Practice Leader3/30/2016This article was published by Hedgeweek.com. Anchin Partner Featured: Jared Feldman, CPA

    Anchin appoints Jared Feldman as Co-Practice Leader of Anchin Private Client, a specialty group devoted to working with affluent clients.

  • Window for Work Opportunity Tax Credit Extended
    Window for Work Opportunity Tax Credit Extended3/16/2016Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    The IRS is extending the time employers who want to claim the Work Opportunity Tax Credit (WOTC) have to file Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit, for 2015 hires.

  • Changes in the ACH Debit Block Information for New York State
    Changes in the ACH Debit Block Information for New York State3/14/2016Clarence Kehoe, Partner-in-Charge, Tax Department

    For those of you who electronically remit any of your business or personal taxes to New York State ("the State"), you should be aware that the State has changed its procedures regarding debit blocks. If you do not have a debit block on your bank account, no action needs to be taken.

  • How to Use Tax Planning for Better Cash Flow Management
    How to Use Tax Planning for Better Cash Flow Management3/10/2016This article was published by Spark Business IQ. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Paul Gevertzman, tax expert at Anchin, discusses how tax planning can assist with cash flow projections.

  • Anchin, Block & Anchin Recognized as Best Global Accounting Firm for Sixth Consecutive Year in Hedgeweek Awards
    Anchin, Block & Anchin Recognized as Best Global Accounting Firm for Sixth Consecutive Year in Hedgeweek Awards3/9/2016

    Top tier accounting firm Anchin, Block & Anchin LLP has received Hedgeweek’s Best Global Accounting Firm award for the sixth consecutive year.

  • NYS Art Collectors Under Scrutiny for Taxes on Shipped Art
    NYS Art Collectors Under Scrutiny for Taxes on Shipped Art3/2/2016Sharon Ackerman, Director, Tax Controversy Services Group

    Law enforcement and tax authorities have been closely investigating electronic records and tax returns for the buying and selling of art in New York State. Art collectors and intermediaries have come under close scrutiny as to whether they have been paying taxes, maintaining shipping records and providing invoices during the sales process.

  • The 5-Step Guide to Launching Your Own Business
    The 5-Step Guide to Launching Your Own Business3/2/2016This article was published by Money Magazine. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Paul Gevertzman, tax expert at Anchin, offers an unexpected suggestion to consider when launching your new business.

  • How to Determine What Your Business Idea Is Worth
    How to Determine What Your Business Idea Is Worth3/2/2016This article was published by Money Magazine. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Tax expert at Anchin, Paul Gevertzman, recommends new business owners evaluate options based on realistic expectations.

  • 12 Times When It Makes Sense to Hire a Tax Preparer
    12 Times When It Makes Sense to Hire a Tax Preparer3/2/2016This article was published by U.S. News & World Report. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Anchin's tax expert, Paul Gevertzman, identifies situations when a tax accountant could be a valuable addition.

  • Congress Enhances Tax Deduction for Donations of Food Inventory
    Congress Enhances Tax Deduction for Donations of Food Inventory3/1/2016Greg Wank, Practice Leader, Food and Beverage Industry Group

    As part of the Protecting Americans from Tax Hikes (PATH) Act passed by The House and Senate at the end of 2015, the enhanced deduction for donations of food inventory was retroactively extended and made permanent so that qualifying donations made since January 1, 2015 are eligible.

  • For Small Businesses and Entrepreneurs, Some Welcome Clarity
    For Small Businesses and Entrepreneurs, Some Welcome Clarity2/19/2016This article was published by The New York Times. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Paul Gevertzman, Anchin's Tax Credits and Incentives Leader, provides clarity to small business owners on the PATH Act.

  • NYC Sees Sizable Jump in Construction Starts, Boosted by Far West Side Development
    NYC Sees Sizable Jump in Construction Starts, Boosted by Far West Side Development2/12/2016This article was published by Commercial Observer.

    Anchin Construction and Development Forum speaker, Silverstein Properties Chairman Larry Silverstein, discusses thee state of New York real estate and construction.

  • Silverstein talks 2 WTC, languishing luxury market
    Silverstein talks 2 WTC, languishing luxury market2/12/2016This article was published by The Real Deal.

    Anchin Construction and Development Forum speaker, Silverstein Properties Chairman Larry Silverstein, discusses the state of New York real estate and construction.

  • The Protecting Americans from Tax Hikes (PATH) Act of 2015 - Educational Benefits
    The Protecting Americans from Tax Hikes (PATH) Act of 2015 - Educational Benefits2/10/2016Richard H. Stieglitz, Partner, Tax Credits and Incentives Group

    On December 18, 2015, Congress passed and the President signed The Protecting Americans from Tax Hikes (PATH) Act of 2015. This legislation extends or retroactively renews and makes permanent a number of federal tax provisions including certain educational benefits.

  • New Tax Audit Rules Constitute a Radical Change for Partnerships
    New Tax Audit Rules Constitute a Radical Change for Partnerships1/27/2016

    Late in 2015, Congress passed the Bipartisan Budget Act of 2015 (the Act), which includes a complete overhaul of the procedures that apply to Internal Revenue Service (IRS) audits of partnerships and limited liability companies (LLCs) taxed as partnerships and their partners.

  • 2016 SEC & FINRA Exam Priorities
    2016 SEC & FINRA Exam Priorities1/25/2016Jeffrey Rosenthal, Partner-in-Charge, Financial Services Practice

    The Office of Compliance Inspections and Examinations (“OCIE”) of the Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) have released their Exam Priorities for 2016. Each of the regulators have organized their focus around a number of key issues.

  • Permanent R&D Tax Credit - A Perfect Fit for U.S. Businesses in the Apparel Industry
    Permanent R&D Tax Credit - A Perfect Fit for U.S. Businesses in the Apparel Industry1/20/2016Marc A. Federbush, Partner & Practice Leader, Fashion Industry Group and Yair Holtzman, Partner & Practice Leader, Research and Development Tax Credits Group

    On December 18, 2015, President Obama signed into law The Protecting Americans from Tax Hikes Act (PATH) of 2015.

  • IRS Extends Several Affordable Care Act Filing Deadlines
    IRS Extends Several Affordable Care Act Filing Deadlines1/13/2016

    To our Clients and Friends: In order to allow health insurance carriers, self-insured employers and payroll service providers additional time to gather, compile and prepare the necessary forms due under the Affordable Care Act, the IRS has extended several filing deadlines as follows

  • Permanent R&D Tax Credit - A Game Changer for U.S. Businesses in the Food and Beverage Industry
    Permanent R&D Tax Credit - A Game Changer for U.S. Businesses in the Food and Beverage Industry1/12/2016Yair Holtzman, Partner and Practice Leader, Research and Development Tax Credits Group

    On December 18, 2015, President Obama signed into law The Protecting Americans from Tax Hikes Act (PATH) of 2015.

  • 2016 New York, New Jersey, and Connecticut Payroll Changes
    2016 New York, New Jersey, and Connecticut Payroll Changes1/6/2016Clarence Kehoe, Partner-in-Charge, Tax Department

    Happy New Year! It’s time again for payroll updates for the tristate area. Below are payroll related changes to keep in mind for 2016.

  • 7 Toxic Money Habits You Need to Quit Now
    7 Toxic Money Habits You Need to Quit Now1/6/2016This article was published by Money Magazine. Anchin Principal Quoted: Mela Garber

    Mela Garber, tax expert at Anchin, advises how to break common bad money habits.

  • How Much Is That Picasso In The Window? Tax Court Says Quite A Bit
    How Much Is That Picasso In The Window? Tax Court Says Quite A Bit12/30/2015This article was published by Forbes. Anchin Principal Quoted: Gary S. Castle, FCA

    What can take a good bit of the fun out of your Picasso going for more than twice the expected price at Christies? Having it happen while the estate you inherited it from does not have its estate tax resolved might do it.

  • Individuals Can Save More Tax in 2015 and Beyond, Thanks to New “Extenders” Law
    Individuals Can Save More Tax in 2015 and Beyond, Thanks to New “Extenders” Law12/29/2015Clarence Kehoe, Partner-in-Charge, Tax Department

    With year end right around the corner, Congress passed the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). The act extended numerous tax breaks that had expired December 31, 2014, and the President signed it into law December 18.

  • Offering breakfast is a made-to-order success for McDonald’s
    Offering breakfast is a made-to-order success for McDonald’s12/26/2015This article was published by the Los Angeles Times. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Turns out that an Egg McMuffin for lunch hit the spot at McDonald’s.

  • These 3 Businesses Will Benefit From the Ginormous $1.8T Spending Bill
    These 3 Businesses Will Benefit From the Ginormous $1.8T Spending Bill12/23/2015This article was published by Fox Business. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Some businesses have a reason to be very merry this Christmas, thanks to this bill. In fact there are at least three that come to my mind that will profit. Are you one of them?

  • Small Businesses Need to Act Fast to Get This Huge Christmas Present
    Small Businesses Need to Act Fast to Get This Huge Christmas Present12/23/2015This article was published by Money Magazine. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Many small business owners are breathing easier now that new legislation makes it clear how much they can deduct for 2015 purchases such as computers, furniture, vehicles, and machines under the popular Section 179 deduction.

  • Permanent R&D Tax Credit a ‘Game Changer’: Expert
    Permanent R&D Tax Credit a ‘Game Changer’: Expert12/23/2015This article was published by The Wall Street Journal. Anchin Partner Quoted: Yair Holtzman, CPA, MBA, MS, CGMA

    Christmas came early this year for finance chiefs hoping a permanent research and development tax credit would get President Barack Obama’s signature.

  • Latest “Extenders” Law Boosts Tax Benefits For Businesses
    Latest “Extenders” Law Boosts Tax Benefits For Businesses12/22/2015Clarence Kehoe, Partner-in-Charge, Tax Department

    Several provisions in particular may produce significant tax savings for businesses in 2015 and beyond.

  • Permanent R&D Tax Credit A Game Changer for America’s Businesses
    Permanent R&D Tax Credit A Game Changer for America’s Businesses12/21/2015Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    On December 18, 2015, President Obama signed into law The Protecting Americans from Tax Hikes Act (PATH) of 2015.

  • 2015 “Extenders” Legislation Does More Than Just Extend Tax Breaks
    2015 “Extenders” Legislation Does More Than Just Extend Tax Breaks12/21/2015

    On December 18, the Senate passed the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), which the House had passed on December 17. Many popular tax breaks had expired December 31, 2014, so for them to be available for 2015, Congress had to pass legislation extending them. But the PATH Act does more than that.

  • Congress Makes Some Tax Extenders Permanent
    Congress Makes Some Tax Extenders Permanent12/16/2015This article was published by Accounting Today. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Congressional leaders unveiled a wide-ranging deal on tax extenders, making some items permanent.

  • Rising transaction complexity drives need for solid operating agreements
    Rising transaction complexity drives need for solid operating agreements12/14/2015This article was published by Real Estate Finance & Investment.Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

    As the number of partners in commercial real estate transactions rises, having properly structured operating agreements is becoming increasingly important.

  • NYC Commuter Benefits Law
    NYC Commuter Benefits Law12/9/2015

    On January 1, 2016, New York City’s Commuter Benefits Law goes into effect. This law requires employers with 20 or more full-time, non-union staff members to offer commuter benefits to eligible full-time employees.

  • Social Security Update
    Social Security Update12/8/2015Richard H. Stieglitz, Partner, Tax Department

    On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015. The Social Security changes reflected in the law affects several previously used strategies, restricting methods that married couples had available to increase their Social Security benefits.

  • Health Insurance: Avoiding the IRS Penalty for Insufficient Coverage
    Health Insurance: Avoiding the IRS Penalty for Insufficient Coverage12/4/2015

    To our Clients and Friends: Under the Affordable Care Act’s Individual Mandate, most individuals must maintain "minimum essential health coverage" at all times.

  • Medicare Changes for 2016: What You Need to Know
    Medicare Changes for 2016: What You Need to Know12/2/2015

    The Centers for Medicare & Medicaid Services just released 2016 Medicare premium, co-pay and deductible rates.

  • After a Sweet Sale of Your Stake in a Real Estate Project, Beware a Big Tax Trap
    After a Sweet Sale of Your Stake in a Real Estate Project, Beware a Big Tax Trap11/11/2015This article was published by Commercial Observer. Anchin Partner Quoted: Robert S. Gilman, CPA, CGMA

    Selling one's stake in a building might come with a hidden tax. 

  • To Business Owners Who Want to Cash Out, Accountants Deliver Tough Love and TLC
    To Business Owners Who Want to Cash Out, Accountants Deliver Tough Love and TLC10/27/2015This article was published by Crain's New York. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    As a partner at Anchin, Block & Anchin in New York City, Greg Wank often speaks with seasoned entrepreneurs who are ready to hand over the reins to firms they’ve spent years building, so they can retire.

  • Identity Fraud Most Common Among High Net-Worth Individuals
    Identity Fraud Most Common Among High Net-Worth Individuals10/23/2015This article was published by The Street. Anchin Partner Quoted: Jared Feldman, CPA

    High net-worth individuals have access to a lot more financial protection than the rest of the population, but that doesn’t make them immune to fraud in the least.

  • FinCEN Proposes Rules for Investment Advisers to Establish Anti-Money Laundering Programs
    FinCEN Proposes Rules for Investment Advisers to Establish Anti-Money Laundering Programs10/16/2015Jeffrey Rosenthal, Partner-in-Charge, Financial Services Practice

    On August 25, 2015, the Financial Crimes Enforcement Network (FinCEN) published a Notice of Proposed Rulemaking (the "Proposed Rule") that would require certain investment advisers registered with the U.S. Securities and Exchange Commission to establish anti-money laundering (AML) programs and report suspicious activity to FinCEN under the Bank Security Act (the "BSA").

  • How did Organic Avenue, which just filed for bankruptcy, lose its way?
    How did Organic Avenue, which just filed for bankruptcy, lose its way?10/16/2015This article was published by New York Business Journal. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Organic Avenue, a juice bar chain that floundered financially and shuttered all 10 of its stores yesterday, has filed for Chapter 7 bankruptcy, a move that will allow it to liquidate assets.

  • Dried-up Organic Avenue gives way to competitors
    Dried-up Organic Avenue gives way to competitors10/16/2015This article was published by Crain's New York. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    The demise Thursday of 15-year-old juice chain Organic Avenue was the end to months of financial struggles, layoffs and store closures.

  • WHO’S NEWS: Darryl Stroup joins Marcus & Millichap; Anchin adds partner
    WHO’S NEWS: Darryl Stroup joins Marcus & Millichap; Anchin adds partner10/15/2015This article was published by Real Estate Weekly. Anchin Partner Featured: Raphy Soussan, CPA

    Anchin, Block & Anchin LLP announced the addition of a new Partner, Raphy Soussan to its team.

  • How to Maintain Your Wealth Once You’ve Attained It
    How to Maintain Your Wealth Once You’ve Attained It10/13/2015This article was published by MainStreet.com. Anchin Partner Quoted: Jared Feldman, CPA

    Even you get rich easily, maintaining those riches and turning them into lasting wealth is far more difficult.

  • Your Health Insurance Company May Ask for Your Social Security Number
    Your Health Insurance Company May Ask for Your Social Security Number10/8/2015Marc Federbush, Practice Leader, Fashion Industry Group

    Your health insurance company may request that you provide them with the social security numbers for you, your spouse and your children covered by your health insurance policy.

  • New York City-Corporate Income, Miscellaneous Taxes: Authorization for Biotechnology Credit Extended for Three Years
    New York City-Corporate Income, Miscellaneous Taxes: Authorization for Biotechnology Credit Extended for Three Years10/7/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group and Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    The Biotechnology Tax Credit allows qualified emerging technology companies (QETCs) specializing in biotechnology to claim a tax credit against the General Corporation Tax and Unincorporated Business Tax for amounts paid or incurred for certain expenses in New York City.

  • 7 Things to Check Off Your To-Do List if You Filed an October 15 Federal Tax Extension
    7 Things to Check Off Your To-Do List if You Filed an October 15 Federal Tax Extension10/5/2015This article was published by LearnVest. Anchin Partner Quoted: Clarence G. Kehoe, CPA

    But if you filed for a federal personal tax extension on Tax Day, listen up: October 15 marks the deadline to finally get all of your paperwork in to the I.R.S. To help those preparing for the October date, here’s a handy rundown of things to check off your gotta-meet-the-tax- extension-deadline to-do list.

  • Company Profile: Anchin Private Client's Personal CFO Approach
    Company Profile: Anchin Private Client's Personal CFO Approach10/1/2015This article was originally published by Family Wealth Report. Anchin Partner Featured: Jared Feldman, CPA - Partner

    Perceptions of family offices – including what they are and who needs or has one – have changed quite dramatically over the past decade to include a much broader spectrum of wealthy individuals.

  • Paid Sick Leave to Be Required for Employees of Federal Contractors
    Paid Sick Leave to Be Required for Employees of Federal Contractors9/30/2015Phillip Ross, Practice Leader, Construction Industry Group

    Dear Construction Clients and Friends,

    On September 7, 2015, President Barack Obama signed an Executive Order requiring federal contractors to offer their employees up to seven days of paid sick leave per year. The executive order will impact contracts entered into on or after January 1, 2017.

  • How Family Loans and Trusts Can Create Big Wins
    How Family Loans and Trusts Can Create Big Wins9/26/2015This article was published by Barron's. Anchin Principal Quoted: Mela Garber

    With interest rates at historic lows—for the time being—wealthy families are turbocharging their estate-planning strategies by pairing intrafamily loans with trusts.

  • People News -- Sept. 11, 2015
    People News -- Sept. 11, 20159/11/2015This article was published by Accounting Today.

    Raphy Soussan joined Anchin, Block & Anchin LLP as a partner.

  • Managing growth: Growing a business from startup to finish
    Managing growth: Growing a business from startup to finish9/1/2015This article was published by SmartCEO. Anchin Partner Featured: Christopher J. Noble, CPA, CGMA

    SmartCEO and Anchin Technology Practice Leader Christopher Noble gathered alumni of the Future 50 program which honors up-and-coming, fast-growth companies, to look back on past challenges and share future plans.

  • Fast-food chains search for the next McMuffin
    Fast-food chains search for the next McMuffin8/25/2015This article was published by MarketWatch. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    When it comes to introducing new menu items, fast-food chains say it’s important to keep one basic truth in mind: For every Egg McMuffin, there are plenty of Pastrami Burgers.

  • How Fast-Food Chains Cook Up New Menu Items
    How Fast-Food Chains Cook Up New Menu Items8/24/2015This article was published by The Wall Street Journal. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    When it comes to introducing new menu items, fast-food chains say it’s important to keep one basic truth in mind: For every Egg McMuffin, there are plenty of Pastrami Burgers.

  • Know your financial pulse, it could save your company’s life
    Know your financial pulse, it could save your company’s life8/6/2015This article was published by Real Estate Weekly. Written by Associate Managing Partner: Marc A. Newman, CPA, CGMA

    Just as a wise patient undergoes regular medical checkups, a construction firm should have regular financial checkups.

  • Big Changes in Food Industry Turn Activists Upside Down
    Big Changes in Food Industry Turn Activists Upside Down8/6/2015This article was published by the Wall Street Journal. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Three years after the old Kraft Foods split in half with the backing of activist investors, one of the activists is suggesting those businesses ought to reunite.

  • Is Your Business Prepared for the New Affordable Care Act (ACA) Reporting Requirements?
    Is Your Business Prepared for the New Affordable Care Act (ACA) Reporting Requirements?8/4/2015

    To our Clients and Friends:

    Early in 2016, sponsors of self-insured plans, as well as insured plans that are deemed to be "Applicable Large Employers," will be required to file Form 1095-C for the year 2015. The threshold to be deemed an Applicable Large Employer is 50 "full-time equivalent" (FTE) employees. Multiple part-time employees can be deemed one FTE.

  • The great A&P shake-up: 30 North Jersey stores will change tenants or go dark
    The great A&P shake-up: 30 North Jersey stores will change tenants or go dark8/2/2015This article was published by NorthJersey.com. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    The bankruptcy of A&P that was announced last month will create a retail ripple effect that will shake up neighborhood shopping centers throughout North Jersey.

  • John Gallin & Son receives Anchin, Block & Anchin Legacy Award
    John Gallin & Son receives Anchin, Block & Anchin Legacy Award8/1/2015This article was published by New York Real Estate Journal.

    John Gallin & Son is a recipient of Anchin, Block & Anchin LLP’s 2015 Legacy Award for fiscal strength, longevity and stability over multiple generations.

  • Impressive Showing: Solidifying your value proposition with plan sponsors
    Impressive Showing: Solidifying your value proposition with plan sponsors8/1/2015This article was published by Plan Adviser Magazine. Anchin Partner Quoted: Clarence G. Kehoe, CPA

    At investment or plan committee meetings, when reviewing the retirement plan with sponsor clients, advisers have the full attention of those in attendance. Most of those meetings are spent discussing the plan and its participants—and sometimes even the investment committee.

  • Why Annuities May Earn Investors’ Respect Now
    Why Annuities May Earn Investors’ Respect Now7/29/2015This article was published by U.S. News & World Report.Anchin Partner Quoted: Clarence G. Kehoe, CPA

    Misunderstood at best and reviled at worst, annuities rank as the Rodney Dangerfield of investments: no respect at all. Yet experts say that annuities – already setting sales records – could well innovate in the coming years, provided that the same high-tech changes shaking conventional investments make it to this sector.

  • Firm News: July 24, 2015
    Firm News: July 24, 20157/24/2015This article was originally published by Accounting Today.

    Anchin, Block & Anchin LLP held its annual New York Construction Awards on June 11, 2015 at Club 101 in New York City.

  • Is Your Firm in Compliance with the Upcoming July 31st U.S. Department of Labor Filing Deadline?
    Is Your Firm in Compliance with the Upcoming July 31st U.S. Department of Labor Filing Deadline?7/23/2015Deborah de Vries, Co-Practice Leader, Compensation and Benefits Services Group

    To our Clients and Friends:

    A frequently overlooked filing obligation is one that requires companies sponsoring retirement plans and large health plans to submit Form 5500 to the U.S. Department of Labor (DOL), annually. For calendar year plans the filing deadline is July 31, 2015. The DOL penalty for noncompliance is $1,100 per day, and the IRS penalty is $15,000 per annum. Is your firm in compliance?

  • Pensions Are Taking the Long, Lonely Road to Retirement
    Pensions Are Taking the Long, Lonely Road to Retirement7/20/2015This article was published by U.S. News & World Report. Anchin Partner Quoted: Clarence G. Kehoe, CPA

    Pensions were once just as much a given in the full-time working world as rock-solid health insurance and gold watches on retirement day.

  • U.S. Supreme Court Decision in Obergefell v. Hodges Has Far-Reaching Tax and Benefits Implications for Same-Sex Married Couples
    U.S. Supreme Court Decision in Obergefell v. Hodges Has Far-Reaching Tax and Benefits Implications for Same-Sex Married Couples7/17/2015Jane Bernardini, Partner, Private Client Group

    On June 26, 2015, there was a groundbreaking decision in Obergefell v. Hodges. Two years after the Supreme Court ruled Section 3 of the Defense of Marriage Act (DOMA) unconstitutional in United States v. Windsor, the Supreme Court declared that same-sex couples have a right to marry anywhere in the United States under the freedom to marry ruling.

  • Accelerated Sales Tax Exemption Program (A-STEP) May Save You Thousands
    Accelerated Sales Tax Exemption Program (A-STEP) May Save You Thousands7/16/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    Small businesses and their growth are vital components of the economic livelihood of New York City. However, many of them are unable to expand their businesses and achieve long term success due to lack of financial resources. To help, the New York City Industrial Development Agency (NYCIDA) has designed the A-STEP Program to help small businesses with equipment upgrades and renovations. 

  • Innovators, leaders, rising stars singled out at annual Anchin awards
    Innovators, leaders, rising stars singled out at annual Anchin awards7/16/2015This article was published by Real Estate Weekly. Anchin Partner Quoted: Phillip M. Ross, CPA, CGMA

    Anchin, Block & Anchin LLP held its annual New York Construction Awards honoring construction, architecture and engineering industry innovators, leaders and rising stars.

  • 5 Biggest Estate Planning Mistakes You Can Make
    5 Biggest Estate Planning Mistakes You Can Make7/15/2015This article was published by Daily Finance. Anchin Principal Quoted: Mela Garber

    Avoid these common estate planning mistakes.

  • Here Are the Worst Estate Planning Mistakes You Can Make
    Here Are the Worst Estate Planning Mistakes You Can Make7/13/2015This article was published by MainStreet.com. Anchin Principal Quoted: Mela Garber

    Good luck to your loved ones when you die, because you’re going about your estate planning all wrong.

  • Trade Preferences Extension Act: What Does it Mean for Your Company?
    Trade Preferences Extension Act: What Does it Mean for Your Company?7/9/2015Marc Federbush, Practice Leader, Fashion Industry Group

    On June 30, 2015, the President signed the Trade Preferences Extension Act ("The Act") into law. The Act will renew the Generalized System of Preferences (GSP), which provides duty-free treatment for selected goods from "beneficiary developing countries," such as Brazil, India, etc.

  • Still Much for Employers to Do During 2015 WOTC Hiatus Period
    Still Much for Employers to Do During 2015 WOTC Hiatus Period7/7/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    The Work Opportunity Tax Credit (WOTC) is a federal income tax credit for each new hire that is a member of certain targeted groups.

     

  • Does Your Firm Sponsor a Self-Insured Health Plan?
    Does Your Firm Sponsor a Self-Insured Health Plan?7/6/2015Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To our Clients and Friends:

    The Patient Protection and Affordable Care Act of 2010 ("ACA") created a fee that is imposed on most health plans. The Patient-Centered Outcomes Research Institute (PCORI) fee is submitted with a completed IRS Form 720, which is due annually on July 31. If you have an insured health plan, the insurer is responsible for calculating and remitting the fee.

  • What we can learn about prenups from the Ben Affleck-Jennifer Garner divorce
    What we can learn about prenups from the Ben Affleck-Jennifer Garner divorce7/4/2015This article was published by Fortune. Anchin Principal Quoted: Mela Garber

    Earlier this week, the world learned that beloved Hollywood couple Jennifer Garner, 43, and Ben Affleck, 42, have decided to split—ten years and one day after their wedding.

  • Two-Year Extension for Vital New York City Tax Breaks
    Two-Year Extension for Vital New York City Tax Breaks7/1/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    Lucrative tax breaks for New York City businesses and developers were extended after the recent legislative sessions concluded in Albany. These tax breaks provide attractive financial incentives for businesses to remain in or relocate to Lower Manhattan and the outer boroughs.

  • $141M sculpture may ‘point’ to top
    $141M sculpture may ‘point’ to top6/14/2015This article was published by the New York Post. Anchin Principal Quoted: Gary S. Castle, FCA

    This is the art bubble of the millennium.

  • New York State ACH Debit Block ID Changes
    New York State ACH Debit Block ID Changes6/10/2015Barry Weisman, Partner, Tax Department

    For those of you using the New York State electronic payment system, there is an update you need to be aware of. Effective June 25, 2015, The New York State Department of Taxation and Finance will convert to a new bank to receive electronic payment of taxes. This will require changes to the New York State (Company) ID and name for debit blocks.

  • The sweetened lowdown: ‘In the Raw’ beverages coming to stores
    The sweetened lowdown: ‘In the Raw’ beverages coming to stores6/4/2015This article was published by Crain's New York. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Sugar In the Raw is getting drinkable. The brand, whose brown packets have become ubiquitous in coffee shops across the city, is launching a line of low-calorie beverages this month.

  • BevNET Live Day 2 Recap: A Call to Action
    BevNET Live Day 2 Recap: A Call to Action6/4/2015This article was published by BevNET. Anchin Partner Featured: Gregory A. Wank, CPA, CGMA

    Louis Barone, Senior Vice President and Division Head of IDB Bank and Greg Wank, Executive Partner at Anchin, Block, & Anchin LLP followed McCord with a look at inside lending in the industry.

  • How the U.S. Supreme Court Ruling Can Impact Your Taxes
    How the U.S. Supreme Court Ruling Can Impact Your Taxes6/1/2015Barry Weisman, Partner, Tax Department

    In an ostensibly significant taxpayer victory, a bitterly divided (5-4) U.S. Supreme Court ruled on May 18, 2015 in Comptroller of the Treasury of Maryland v. Wynne that Maryland’s personal income tax regime ran afoul of the Constitution’s "Dormant" Commerce Clause.

  • Why Your Spouse Should Be at the Center of Your Estate Planning
    Why Your Spouse Should Be at the Center of Your Estate Planning5/27/2015This article was published by MainStreet. Anchin Partner Quoted: E. Richard Baum, CPA, J.D.

    If you’re wondering who’s going to make sure your wishes are met after you die, your spouse is likely the first person you should consider.

  • Indian American woman in Illinois Priti Shah wins $4 million from lottery ticket
    Indian American woman in Illinois Priti Shah wins $4 million from lottery ticket5/27/2015This article was published by The American Bazaar. Anchin Partner Quoted: Clarence G. Kehoe, CPA

    An Indian American woman in Des Plaines, Illinois, won $4 million after scratching a ticket that her daughter had given her as a gift for Mother’s Day.

  • Almond milk sales are soaring, but is it good for you?
    Almond milk sales are soaring, but is it good for you?5/27/2015This article was published by Fortune.Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Almond milk now outsells any other non-dairy milk—including rice or soy milk.

  • Labor-law infractions cost these firms more than cash
    Labor-law infractions cost these firms more than cash5/20/2015This article was published by Crain's New York. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    Local construction firms that aren’t following labor laws to the letter need to get their act together in the wake of a $1.42 million settlement between the U.S. Department of Labor and four related Long Island City plumbing and heating contractors, small-business advisers say.

  • Anchin announces MTA New York City Transit President, Carmen Bianco, as Keynote Speaker for the New York Construction Awards on June 11, 2015
    Anchin announces MTA New York City Transit President, Carmen Bianco, as Keynote Speaker for the New York Construction Awards on June 11, 20155/11/2015

    Anchin, Block & Anchin LLP host of the annual New York Construction Awards, is proud to announce Carmen Bianco, President of Metropolitan Transportation Authority (MTA) New York City Transit, as keynote speaker for the event. The New York Construction Awards will take place on June 11, 2015 at Club 101 in New York City.

  • You’ve Won Big -- What Will That Windfall Cost You in Taxes?
    You’ve Won Big -- What Will That Windfall Cost You in Taxes?5/11/2015This article was published by The Street. Anchin Partner Quoted: Jared Feldman, CPA

    So you cleaned up at the casino, finally had that winning lottery ticket pay off or were the last person with his hand on the truck at the mall this weekend. What’s that "free" gift going to cost you?

  • Anchin announces Paul Williams of the Dormitory Authority State of New York as Keynote Speaker for the New York Construction Awards on June 19, 2014
    Anchin announces Paul Williams of the Dormitory Authority State of New York as Keynote Speaker for the New York Construction Awards on June 19, 20145/7/2015

    The annual New York Construction Awards, presented in cooperation with the New York Building Congress (NYBC) and industry partners, American Council of Engineering Companies of New York (ACEC-NY) and the American Institute of Architects New York Chapter (AIA-NY), and hosted by Anchin, Block & Anchin LLP, will take place on June 19, 2014 at Bloomberg Headquarters in New York City.

  • Back to the future: Create a viable buy-sell agreement now
    Back to the future: Create a viable buy-sell agreement now5/6/2015This article was published by Real Estate Weekly. Written by Associate Managing Partner: Marc A. Newman, CPA, CGMA

    It would be wonderful if the future just took care of itself. But in the case of buy-sell agreements, the future depends on what’s done today.

  • Expiration date approaching for certain New York City based incentives
    Expiration date approaching for certain New York City based incentives4/28/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    The following New York City based incentive programs are expiring on June 30, 2015

  • New York City Corporate Tax Reform Will Have Significant Impact on 2015 Taxes
    New York City Corporate Tax Reform Will Have Significant Impact on 2015 Taxes4/27/2015Clarence Kehoe, Partner-in-Charge, Tax Department

    Enacted New York legislation significantly revises the New York City corporate income tax system, generally applicable to taxable years beginning on or after January 1, 2015. New York City does not recognize Federal S Corporation status and instead taxes them as if they are a regular…

  • Water helping soft drink industry
    Water helping soft drink industry4/27/2015This article was published by FOX5NY. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Is the soft drink industry dead?

  • Anchin's Greg Wank Says ‘Functional Beverages’ Supporting Coke on Bloomberg Radio (Audio)
    Anchin's Greg Wank Says ‘Functional Beverages’ Supporting Coke on Bloomberg Radio (Audio)4/22/2015(Source: Bloomberg)

    Greg Wank, practice leader of Anchin, Block & Anchin LLP's Food and Beverage Industry Group discusses Coca-Cola earnings and the changing "health conscious" landscape within the beverage industry with Bloomberg's Carol Massar and Michael McKee on "Taking Stock".

  • How To Create Viral Movements With Digital Media (Video)
    How To Create Viral Movements With Digital Media (Video)4/22/2015(Source: CoInvent)

    Michael Belfer, practice leader of Anchin, Block & Anchin LLP's Public Relations and Advertising Industry Group on panel discussing how to create viral movements with digital media.

  • How to Set Up a Trust Without Costing Your Children a Cent
    How to Set Up a Trust Without Costing Your Children a Cent4/17/2015This article was published by MainStreet.com. Anchin Principal Quoted: Mela Garber

    If personal finance was a teen movie, the trust would be the blonde, snotty rich kid who wins all the ski races and uses his flawless martial arts technique to sweep some working-class kid’s injured leg.

  • Firm News: April 17, 2015
    Firm News: April 17, 20154/17/2015This article was published by Accounting Today.

    Anchin, Block & Anchin LLP has been named one of the Best Companies to Work for in New York State for 2015, marking the 8th consecutive year that Anchin has received this recognition.

  • IRS warns of sophisticated telephone scam
    IRS warns of sophisticated telephone scam4/15/2015This article was published by Marketplace.org. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    The Treasury department says thousands of people have fallen victim to a phone scam, where a caller impersonates an IRS agent, and threatens criminal penalties and other legal action if money isn’t paid immediately.

  • Is that on-demand worker actually your employee?
    Is that on-demand worker actually your employee?4/12/2015This article was published by Crain's New York. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    John McLaughlin depended heavily on freelance customer-service representatives and other help he found on oDesk while growing his mobile-app firm, UniquePhones, in SoHo. But when he decided to offer 24-hour customer service and needed the reps to move to hourly shifts, he made what may have been a prescient decision.

  • New Jersey Tax Incentives Opportunity
    New Jersey Tax Incentives Opportunity3/30/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    Governor Chris Christie is proposing turning New Jersey’s Business Employment Incentive Program (BEIP) into a program offering tax credits in exchange for job creation. This comes after lawmakers cut an estimated $175 million in BEIP funding from the budget to help close a revenue shortfall last year.

  • Heinz will buy Kraft Foods in mega-merger for American food
    Heinz will buy Kraft Foods in mega-merger for American food3/25/2015This article was published by The Washington Post. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Taking aim soon at America’s growing love of fresh food: A billion-dollar mega-marriage of sugary ketchup and processed cheese.

  • Captive Insurance Companies: Are They Right For You?
    Captive Insurance Companies: Are They Right For You?3/18/2015Clarence Kehoe, Partner-in-Charge, Tax Department

    Many of you have heard of captive insurance companies but may not know exactly what they are or how they work. Perhaps you have heard of this concept being used by Fortune 500 companies, but assumed it was not for you. Well, captive insurance companies are being increasingly used by middle market companies as promoters and advisors are aggressively pursuing privately owned companies.

  • What to Do if You’re Audited
    What to Do if You’re Audited3/18/2015This article was published by The Fiscal Times. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    If you’re being audited by the Internal Revenue Service this year, you’re either an unlucky or extremely unfortunate individual.

  • So Your Taxes Are Being Audited By the State or IRS: Now What?
    So Your Taxes Are Being Audited By the State or IRS: Now What?3/18/2015This article was published by MainStreet.com. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    If you’re being audited by the Internal Revenue Service this year, you’re either an unlucky or extremely unfortunate individual.

  • Pizza chains make inroads in NJ, NY
    Pizza chains make inroads in NJ, NY3/17/2015This article was published by FOX5NY. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    Call it the next Chipotle. Custom, quick pizza is the hot new trend in fast casual dining, even in the New York Metro area, where we can be picky about our pies.

  • Replacing tax rebates with tax credits bad for local businesses and New Jersey alike
    Replacing tax rebates with tax credits bad for local businesses and New Jersey alike3/14/2015This article was published by NJ BIZ. Written by Anchin Partner: Paul Gevertzman, CPA, J.D.

    When state Sen. Raymond Lesniak (D-Union) introduced legislation late last month to issue 10-year tax credits to businesses promised rebate checks under the now defunct Business Employment Incentive Program, he took a rather sanguine view of the bill and its benefits for local companies.

  • How 3 Popular Businesses Actually Turn a Profit
    How 3 Popular Businesses Actually Turn a Profit3/10/2015This article was published by U.S. News & World Report. Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

    When you pull out your wallet to pay for a meal or a mani-pedi, you might assume the most expensive part of your bill was that steak or the trendy designs on your toenails. But insiders will tell you that the real money-makers are the wine you ordered with dinner or the extra products you bought at the salon after getting pampered.

  • Estate planning: How to leave IRA to heirs
    Estate planning: How to leave IRA to heirs3/5/2015This article was published by Bankrate.com. Anchin Partner Quoted: E. Richard Baum, CPA, J.D.

    No one would accuse IRAs of being easy to understand. The retirement accounts seem fairly straightforward on the surface, but they can get complicated, especially after you die.

  • Anchin Releases Its Ninth Annual Food and Beverage Industry Survey
    Anchin Releases Its Ninth Annual Food and Beverage Industry Survey3/4/2015

    Anchin, Block & Anchin LLP, one of the region’s leading accounting and consulting firms serving the food and beverage industry, has released its 2015 industry survey.

  • Are your financial statements investor and acquirer-ready?
    Are your financial statements investor and acquirer-ready?3/3/2015This article was published by newhope360. Co-Authored by Anchin Partner: Gregory A. Wank, CPA, CGMA

    As professional service firms steeped in the natural products space, we have the privilege of meeting the founders and executives from many branded food and beverage companies each year. Interestingly, we have learned that the way each company classifies certain costs in their financial statements can vary widely.

  • Window of opportunity to claim Work Opportunity Tax Credit
    Window of opportunity to claim Work Opportunity Tax Credit2/25/2015Paul Gevertzman, Practice Leader, Tax Credits and Incentives Group

    The Work Opportunity Tax Credit (WOTC) is a federal income tax credit for each new hire that is a member of certain targeted groups. The Tax Increase Prevention Act of 2014 (the Act), enacted on December 19, 2014 extended the WOTC through December 31, 2014, for companies hiring individuals in targeted groups, and for qualified tax-exempt organizations hiring qualified veterans.

  • The R&D Tax Credit — A Catalyst For Life Sciences Innovation
    The R&D Tax Credit — A Catalyst For Life Sciences Innovation2/25/2015This article was published by Life Science Leader. Written by Anchin Partner: Yair Holtzman, CPA, MBA, MS, CGMA

    For companies in net loss positions, the R&D credit can be carried back one year and carried forward for 20 years until it can be used. In addition, similar credits and other incentives are offered by 38 states, six of which offer refundable credits to attract new jobs and industries to the region.

  • The Agricultural Chemicals Security Credit has expired, but is opportunity still knocking?
    The Agricultural Chemicals Security Credit has expired, but is opportunity still knocking?2/18/2015Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    The Agricultural Chemicals Security Credit was applicable to eligible expenditures incurred after May 22, 2008 and before January 1, 2013.

  • Court Case Impacts Eligibility of Capped Contracts for R&D Tax Credits
    Court Case Impacts Eligibility of Capped Contracts for R&D Tax Credits2/16/2015Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    On January 29, 2015, the United States Court of Appeals for the Eleventh Circuit affirmed a federal district court’s decision in Geosyntec Consultants, Inc. v. United States, No. 14-11107, disallowing the R&D tax credit for research expenditures linked to capped contracts.

  • Important: Monitor Your 2015 Employee Headcount Carefully!
    Important: Monitor Your 2015 Employee Headcount Carefully!2/11/2015Deborah de Vries, Co-Practice Leader, Compensation and Benefits Services Group

    To our Clients and Friends:

    The Patient Protection and Affordable Care Act of 2010 ("ACA") is complex legislation that affects a large percentage of employers throughout the country. Depending on employee headcount, employers may be subject to all ACA provisions, just some of them, or none at all.

  • Cybersecurity Alert
    Cybersecurity Alert2/10/2015Jeffrey Rosenthal, Partner-in-Charge, Financial Services Practice

    This past week saw a flurry of alerts regarding cyber security from both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) underscoring the emphasis on cybersecurity across all areas of the financial services industry for both institutions and investors.

  •  Understanding Lifetime Trusts (Video)
    Understanding Lifetime Trusts (Video) 1/27/2015(Source: The Wall Street Journal)

    Richard Baum, partner at Anchin, Block & Anchin LLP, discusses what advisers and clients need to know about lifetime trusts and why they've become more popular with Veronica Dagher, in this WSJ Video.

  • Proposed Regulations Provide Clarity and Guidance Related to Computer Software as it Applies to the R&D Tax Credit
    Proposed Regulations Provide Clarity and Guidance Related to Computer Software as it Applies to the R&D Tax Credit1/26/2015Yair Holtzman, Practice Leader, Research and Development Tax Credits Group

    On January 16, the Treasury and IRS released proposed regulations (REG-153656-03) regarding internal use software ("IUS") expenditures as related to the Section 41 Research & Development ("R&D") tax credit. The proposed regulations contain several important changes related to claiming the R&D tax credit for IUS expenditures.

  • Identity Theft
    Identity Theft1/22/2015

    Identity thieves stole an estimated $5.2 billion from the Internal Revenue Service (IRS) this past year. The threat of identity theft and refund fraud has increased substantially over the past few years.

  • New York Annual Wage Theft Reporting Act Requirements: Relief for 2015
    New York Annual Wage Theft Reporting Act Requirements: Relief for 20151/21/2015

    At the end of December 2014, the New York State Department of Labor (NYSDOL) announced that Governor Cuomo signed a bill eliminating the annual notice requirement of the Wage Theft Prevention Act (WTPA). This provides significant relief for many businesses.

  • 2015 SEC Examination Priorities Announced
    2015 SEC Examination Priorities Announced1/20/2015Jeffrey Rosenthal, Partner-in-Charge, Financial Services Practice

    Last week, the SEC announced its examination priorities for 2015. Three themes highlighted the areas of focus for the SEC’s Office of Compliance Inspections and Examinations ("OCIE"): Protection of retail investors and investors saving for retirement, assessing market-wide risk and using enhanced data analysis to identify those engaged in potential illegal activity.

  • Here Are The Tax Changes You Should Know About This Year
    Here Are The Tax Changes You Should Know About This Year1/19/2015This article was published by Business Insider. Anchin Partner Quoted: Paul Gevertzman, CPA, J.D.

    The Senate recently extended several tax provisions including mortgage debt forgiveness and credits for energy-efficient home improvements – that had expired at the end of 2013.

  • IRS Retroactively Increases Transit Benefits
    IRS Retroactively Increases Transit Benefits1/14/2015Clarence Kehoe, Partner-in-Charge, Tax Department and Richard Stieglitz, Partner, Tax Department

    The Tax Increase Prevention Act of 2014 extended the provision allowing employees to exclude from gross income up to $250 a month for transit passes. This provision was extended only through 2014, and is scheduled to return to $130 a month thereafter.

  • Identity Theft
    Identity Theft1/14/2015Marc Federbush, Practice Leader, Fashion Industry Group

    Identity thieves stole an estimated $5.2 billion from the Internal Revenue Service (IRS) this past year. The threat of identity theft and refund fraud has increased substantially over the past few years.

  • Recent Statutory Changes to the New York State Metropolitan Commuter Transportation Mobility Tax (“MCTMT”)
    Recent Statutory Changes to the New York State Metropolitan Commuter Transportation Mobility Tax (“MCTMT”)1/13/2015Clarence Kehoe, Partner-in-Charge, Tax Department and Tara Burek, Director, State and Local Taxation Services Group

    For tax years beginning on or after January 1, 2015, there are significant filing and payment changes to the MCTMT which will affect many unincorporated businesses and self-employed individuals.

  • The Art of Tax Planning - Part 3
    The Art of Tax Planning - Part 31/12/2015Gary Castle and Michael Belfer, Co-Practice Leaders, Art Specialty Group

    This is the third installment of an article about tax as it applies to the unique subject of art.

  • New York, New Jersey and Connecticut Payroll Changes Take Effect
    New York, New Jersey and Connecticut Payroll Changes Take Effect1/7/2015Clarence Kehoe, Partner-in-Charge, Tax Department

    On January 1st, New York’s minimum wage for most employees increased to $8.75 an hour from $8.00 per hour. On December 31, 2015, the minimum wage will rise again to $9.00 an hour.

  • New York State Conforms to the Market Based Sourcing Approach for the Sourcing of Receipts from Services and the Use of Intangibles
    New York State Conforms to the Market Based Sourcing Approach for the Sourcing of Receipts from Services and the Use of Intangibles1/6/2015Clarence Kehoe, Partner-in-Charge, Tax Department and Tara Burek, Director, State and Local Taxation Services Group

    For tax years beginning on or after January 1, 2015, receipts from services and intangibles will be sourced to where the customer receives the economic benefit and not where the service was performed. This is more commonly known as "market-based" sourcing of receipts.

  • 2015 TAX CALENDAR
    2015 TAX CALENDAR1/1/2015

    This summary of when various tax-related forms, payments and other actions are due will help taxpayers make sure they don’t miss any important 2015 tax deadlines.

  • House/Senate Pass Tax Extenders Bill
    House/Senate Pass Tax Extenders Bill12/17/2014Clarence Kehoe, Partner-in-Charge, Tax Department

    Late last night the Senate passed a tax extenders bill, the same bill which the House had previously approved. It is expected that President Obama will sign the bill by the end of the week.

  • The Art of Tax Planning - Part 2
    The Art of Tax Planning - Part 212/16/2014Gary Castle and Michael Belfer, Co-Practice Leaders, Art Specialty Group

    This is the second installment of an article about tax as it applies to the unique subject of art.

  • New York State Sales and Use Tax Update
    New York State Sales and Use Tax Update12/8/2014Phillip Ross, Practice Leader, Construction Industry Group

    Dear Construction Clients and Friends,

    On October 23, 2014, the New York State Department of Taxation and Finance (DTF) issued a Technical Memorandum, outlining a new policy regarding the sales & use taxes application to temporary scaffolding, temporary pedestrian walkways (sidewalk bridges), and temporary hoisting systems installed at construction sites.

  • The Art of Tax Planning - Part 1
    The Art of Tax Planning - Part 112/4/2014Gary Castle and Michael Belfer, Co-Practice Leaders, Art Specialty Group

    Fine art is increasingly making headlines as record breaking auction prices steal the attention of collectors, hopeful artists, and art market enthusiasts. At the same time, the perception of a rising art market has brought fine art to the attention of investors around the world, who now consider it an alternative asset class to be evaluated alongside real estate, hedge funds, and other investments.

  • 2014 Financial Services Year-End Tax Planning Alert
    2014 Financial Services Year-End Tax Planning Alert12/3/2014George Teixeira, Partner, Financial Services Practice

    The November 4 midterm elections resulted in a shake-up on Capitol Hill that will put Republicans in charge of both the House and the Senate when 114th Congress convenes in January 2015. In the meantime, tax reform and tax extender discussions have taken a back seat to the election of party leaders in the House and Senate as well as leadership changes to the various tax-writing committees.

  • Does Your Firm Have A Self-Insured Health Plan?
    Does Your Firm Have A Self-Insured Health Plan?11/25/2014Phillip Ross, Practice Leader, Architecture and Engineering

    To our Clients and Friends,

    Like most companies, Architecture and Engineering (A&E) firms need a full understanding of how the Affordable Care Act will impact their business so they can accurately budget and plan.

  • Uncertainty over expired tax provisions complicates year end tax planning
    Uncertainty over expired tax provisions complicates year end tax planning11/5/2014

    Now that we’ve entered the final two months of 2014, many businesses and individuals are turning their attention to year end tax planning.

  • Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding
    Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding11/1/2014

    To Our Business Clients:

    Attached for your convenience is a summary of the tax treatment of certain fringe benefits for payroll tax and income tax reporting purposes, plus detailed information regarding company automobiles and health and accident insurance premiums for S corporations.

  • A Tax Victory for Art Collectors
    A Tax Victory for Art Collectors10/7/2014Gary Castle, Co-Practice Leader, Art Specialty Group

    In a decision on September 15, 2014, the Fifth Circuit reversed a 10% discount (previously applied by the United States Tax Court to a valuation of art) in favor of a more significant 47.5% discount. The careful consideration of evidentiary support provided by the art collector’s family, legal team, accountant and other experts in conjunction with the blatant randomness of the initial 10% discount yielded a very positive result that many think will help other art owners reduce taxes on their estates.

  • Trends and Forecasts for New York’s Construction Industry Discussed at Anchin’s Ninth Annual State of the Construction Industry Event
    Trends and Forecasts for New York’s Construction Industry Discussed at Anchin’s Ninth Annual State of the Construction Industry Event10/1/2014

    Anchin’s ninth annual State of the Construction Industry event was held in New York City on September 18, 2014. Presented in cooperation with the New York Building Congress (NYBC), the American Council of Engineering Companies of New York (ACEC NY), and the American Institute of Architects – New York Chapter (AIA-NY), the event is much anticipated by industry leaders as an indication of what they can expect in the coming year.

  • Anchin, Block & Anchin LLP Adds Three to Partnership
    Anchin, Block & Anchin LLP Adds Three to Partnership10/1/2014

    Anchin, Block & Anchin LLP is pleased to announce the addition of Tamir Dardashtian (Principal), Yair Holtzman (Partner) and Christopher Noble (Partner) to the partnership, as of October 1, 2014. With these additions, Anchin has a roster of 54 partners and principals who provide creative, proactive advisory services to clients representing all of the major industries represented in the tri-state area.

  • The Affordable Care Act (ACA) Reporting Requirements for Business Clients
    The Affordable Care Act (ACA) Reporting Requirements for Business Clients9/30/2014

    Certain employer reporting requirements for IRS Code Sections 6055 and 6056 under the ACA originally were intended to take effect on January 1, 2014. Employers received transition relief for tax year 2014 delaying the effective date and enforcement until January 1, 2015.

  • Anchin's Greg Wank Discusses NYC Grocery Store Pricing (Audio)
    Anchin's Greg Wank Discusses NYC Grocery Store Pricing (Audio) 9/10/2014Source: Bloomberg

    Greg Wank, practice leader of Anchin, Block & Anchin LLP's Food and Beverage Industry Group discusses Whole Foods and Food and Beverage Industry trends with Bloomberg's Pimm Fox and Carol Massar on "Taking Stock".

  • Speakers Announced for Anchin’s Annual Construction Industry Event
    Speakers Announced for Anchin’s Annual Construction Industry Event8/7/2014

    The partners of Anchin, Block & Anchin LLP are proud to announce the outstanding panel of industry executives for the State of the Construction Industry event, which will take place at 7:45 a.m. on Thursday, September 18, 2014, at Club 101, 101 Park Avenue. This high-level industry event will provide an outlook of the Construction industry for 2014 and beyond.

  • Is Your Inherited IRA Protected From Creditors?
    Is Your Inherited IRA Protected From Creditors?8/5/2014Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To Our Clients and Friends:

    As life expectancies have increased, the possibility that your retirement will last for several decades is a realistic one. This is a happy thought, but how will you pay for it?

  • Tax Incentives for U.S. Work on Foreign Projects
    Tax Incentives for U.S. Work on Foreign Projects7/28/2014Phillip Ross, Practice Leader, Architecture and Engineering Industry Group 

    Many Architecture and Engineering firms are expanding their scope of work into international projects. These companies may be able to reduce overall taxes and increase cash flow with the proper tax planning and structure.

  • Federal Court Rules Against Key Provision in the Affordable Care Act; Second Court Upholds It
    Federal Court Rules Against Key Provision in the Affordable Care Act; Second Court Upholds It7/23/2014Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To Our Clients and Friends:

    On July 22, two federal appellate courts rendered conflicting decisions regarding a key component of the Affordable Care Act

  • How to Defer Retirement Plan Distributions Until Age 85
    How to Defer Retirement Plan Distributions Until Age 857/22/2014Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To Our Clients and Friends:

    With limited exceptions, required minimum distributions from retirement vehicles such as 401(k) plans and Individual Retirement Accounts (IRAs) have had to commence shortly after the owner reaches the age of 70 1/2. Failure to do so triggered a daunting excise tax, calculated at 50% of the missed distribution.

  • Repair Regulations: Capitalize vs. Expense
    Repair Regulations: Capitalize vs. Expense7/14/2014

    The IRS has recently released final rules on the tax treatment of tangible personal property. An important component of these new rules deal with when and how to deduct or capitalize certain expenditures.

  • Custody Rule Update: Guidance for SPVs and Escrows
    Custody Rule Update: Guidance for SPVs and Escrows7/14/2014

    The Division of Investment Management of the Securities and Exchange Commission (the "SEC") provided an Investment Management Guidance Update (the "Update") regarding the Custody Rule (Rule 206(4)-2) under the Investment Advisers Act of 1940, as amended (the " Custody Rule").

  • Does Your Firm Sponsor a Self-Insured Health Plan?
    Does Your Firm Sponsor a Self-Insured Health Plan?7/1/2014Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To our Clients and Friends:

    The Patient Protection and Affordable Care Act of 2010 ("ACA") created a fee that is imposed on most health plans. The Patient-Centered Outcomes Research Institute (PCORI) fee is submitted with a completed IRS Form 720, which is due annually on July 31. If you have an insured health plan, the insurer is responsible for calculating and remitting the fee.

  • The New York Construction Awards Honors Construction, Architecture & Engineering Industry Innovators, Leaders & Rising Stars
    The New York Construction Awards Honors Construction, Architecture & Engineering Industry Innovators, Leaders & Rising Stars6/30/2014

    The New York Construction Awards, hosted by leading accounting and consulting firm Anchin, Block & Anchin LLP and presented by The New York Building Congress (NYBC), The American Council of Engineering Companies of New York (ACEC NY), and The American Institute of Architects – New York Chapter (AIA-NY) honored industry innovators, leaders and rising stars at Bloomberg Headquarters in New York City on June 19th.

  • Revenue Ruling 2014-18 – New Possibilities to Defer Offshore Compensation of Hedge Fund Managers and Employees
    Revenue Ruling 2014-18 – New Possibilities to Defer Offshore Compensation of Hedge Fund Managers and Employees6/30/2014

    On June 10, 2014, the Internal Revenue Service issued a ruling holding that non-statutory (or nonqualified) stock options ("NSO") and stock-settled stock appreciation rights ("SARs") are not subject to Internal Revenue Code Section 457A ("Section 457A").

  • City Harvest Skip Lunch Fight Hunger
    City Harvest Skip Lunch Fight Hunger6/30/2014City Harvest

    This year, City Harvest's Skip Lunch Fight Hunger Campaign raised $1 million - enough to help feed over 45,000 hungry kids and their families for the entire summer.

  • Results of Anchin’s 8th Annual Food and Beverage Survey Show Optimism for Higher Profits in 2014
    Results of Anchin’s 8th Annual Food and Beverage Survey Show Optimism for Higher Profits in 20146/5/2014

    The statistics revealed at Anchin’s 8th Annual State of the Food and Beverage Industry Event, held in Manhattan on June 4th, showed the industry, a leader in the recovering economy in 2013, anticipates an even more profitable 2014.

  • Choosing the Right Auditor for Your Firm’s Employee Benefit Plan
    Choosing the Right Auditor for Your Firm’s Employee Benefit Plan5/15/2014Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To our Clients and Friends:

    If your retirement plan has over 100 participants, in most cases you must provide the U.S. Department of Labor (DOL) with evidence of an annual audit by an independent qualified public accountant. Not every public accountant is "qualified" to audit a retirement plan – is yours?

  • New York State Gift, Estate and Trust Law Changes
    New York State Gift, Estate and Trust Law Changes5/13/2014

    New York State recently enacted some significant tax law changes. Contained within the new budget are critical gift, estate and trust topics that should be addressed immediately by New York residents as well as beneficiaries of exempt resident trusts.

  • New York Budget to Have a Major Impact on 2014 Taxes
    New York Budget to Have a Major Impact on 2014 Taxes4/9/2014Clarence Kehoe, Partner-in-Charge, Tax Department

    Last week’s budget agreement brought significant tax developments that will greatly impact the 2014 tax picture for many companies and individuals. Here is a brief look at some of the key developments.

  • Anchin’s Trusts and Estates Market Update
    Anchin’s Trusts and Estates Market Update3/26/2014Mela Garber, Practice Leader, Trusts and Estates Services Group and Clarence Kehoe, Partner-in-Charge, Tax Department

    Trust formation spiked in 2012, resulting in an increased need for formal (judicial) and informal accountings. The preparation of these formal (judicial) and informal accountings is a multifaceted process. Anchin’s Trusts and Estates Services Group provides expertise and in-depth knowledge essential to successfully prepare multistate judicial accountings.

  • SEC Announces Initiative Directed at Never-Before Examined Registered Investment Advisers
    SEC Announces Initiative Directed at Never-Before Examined Registered Investment Advisers3/3/2014

    The Securities and Exchange Commission announced that its Office of Compliance Inspections and Examinations (OCIE) is launching an initiative directed at investment advisers that have never been examined, focusing on those that have been registered with the SEC for three or more years.

  • ALA - The State of State and Local Taxation and How it Impacts Your Law Firm
    ALA - The State of State and Local Taxation and How it Impacts Your Law Firm2/20/2014Steven D. Lando, CPA - Tax Partner

    PowerPoint Presentation to the Association of Legal Administrators

  • SEC Examination Priorities for 2014
    SEC Examination Priorities for 20142/12/2014

    The Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations recently published the priorities of its National Exam Program (NEP) for 2014. Under this program, the SEC conducts examinations of registered entities, including broker-dealers, transfer agents, investment advisers, investment companies, the national securities exchanges, clearing agencies, self-regulatory organizations, municipal advisors, and others.

  • Important: Monitor Your 2014 Employee Headcount Carefully!
    Important: Monitor Your 2014 Employee Headcount Carefully!2/11/2014Deborah de Vries and Clarence Kehoe, Co-Practice Leaders, Compensation and Benefits Services Group

    To our Clients and Friends:

    The Patient Protection and Affordable Care Act of 2010 ("ACA"; "Obamacare") is complex legislation that affects a large percentage of employers throughout the country.

  • Senate Considering Proposal to Eliminate the Cash Basis of Accounting for Many Professional Service Firms
    Senate Considering Proposal to Eliminate the Cash Basis of Accounting for Many Professional Service Firms1/27/2014Russell Shinsky, Practice Leader, Law Firms Industry Group; Phillip Ross, Practice Leader, Architecture and Engineering Industry Group; and Clarence Kehoe, Partner-in-Charge, Tax Department

    The United States Senate is considering a proposal to eliminate the cash basis of accounting rules that currently exist for many professional service firms, potentially requiring these firms to change their tax method to the accrual basis. This change would greatly impact cash flow, and potentially hinder growth potential in professional service firms.

  • New York Non-Profit Revitalization Act of 2013
    New York Non-Profit Revitalization Act of 20131/27/2014Gary Castle, Practice Leader, Philanthropic Services Group

    The New York Non-Profit Revitalization Act of 2013 (the Act) was signed by Governor Andrew Cuomo on December 19, 2013. This act represents the first substantial reform to the New York Not-for-Profit law in more than forty years.

  • FATCA – “Ready or Not” – Online Registrations Can be Finalized and Submitted
    FATCA – “Ready or Not” – Online Registrations Can be Finalized and Submitted1/23/2014

    Under the Foreign Account Tax Compliance Act (FATCA), withholding agents must withhold tax on certain payments to Foreign Financial Institutions (FFIs) that do not agree to report certain information to the IRS about their U.S. accounts, including the accounts of certain foreign entities with substantial U.S. owners. An FFI may agree to report certain information about its account holders by registering to be FATCA compliant.

  • Will your restaurant continue to charge service charges in 2014?
    Will your restaurant continue to charge service charges in 2014?1/20/2014Greg Wank, Practice Leader, Food and Beverage Industry Group

    Starting January 1, 2014 the IRS will enforce a rule related to mandatory fixed gratuities. Any mandatory fixed gratuity collected is considered a service charge and should be treated as wages.

  • 2014 TAX CALENDAR
    2014 TAX CALENDAR1/1/2014

    This summary of when various tax-related forms, payments and other actions are due will help taxpayers make sure they don’t miss any important 2014 tax deadlines.

  • New York Law Journal Webinar: Estate & Gift Tax Planning Techniques
    New York Law Journal Webinar: Estate & Gift Tax Planning Techniques 9/16/2013

    Webinar by Stephen M. Breitstone, Esq. of Meltzer Lippe

  •  Law Firms: Why Entity Type Matters
    Law Firms: Why Entity Type Matters8/1/2013This article was published by ALANYC. Written by Anchin Partner: Russell B. Shinsky, CPA, CGMA

    Structure matters when attorneys think about setting up a new practice, merging into or acquiring another firm, or making a lateral move. The tax and financial ramifications are significantly different for each of these entities and must be evaluated as early as possible to avoid costly mistakes.

  • Rising Stars
    Rising Stars4/1/2013This article was originally published by PAM Magazine. Anchin Partner Featured: Jared Feldman, CPA - Partner

    In its inaugural ‘Rising Stars’ list, PAM details the wealth management and family office industry's brightest emerging players

  • Top Restaurant Links
    Top Restaurant Links

    Internal Revenue Service (IRS)
    www.irs.gov

    Tips – Withholding and Reporting
    http://www.irs.gov/taxtopics/tc761.html

  • 101 Ways to Steal in the Restaurant and Bar
    101 Ways to Steal in the Restaurant and Bar

    Methods Perpetrated by All Employees

    1. Employee doesn’t ring up sale and keeps cash.

    2. Short ring: Under-ring the correct price of item and pocket the difference.

    3. Serving and collecting while register is reading between shift changes.

  • CPE for CFO’s Recap - June 14, 2016
    CPE for CFO’s Recap - June 14, 2016

    Anchin’s June 2016 installment of CPE for CFO’s, held on June 14th, began with a panel of experts...

  • How Does Tax Reform Impact You?

    The Trump Administration passed an intricate and complex tax reform bill just before the close of 2017, but what will this mean as we move into 2018? New Jersey grapples with new tax law7/12/2018 Is the Tax Cuts and Jobs Act (“TCJA”) Eating Law Firms Breakfasts, Lunches…

  • Retaining a Business Valuation Expert
    Retaining a Business Valuation ExpertWritten by: Raymond Dragon, MBA, MS, CPVA, ASA

    For many attorneys, telling their clients to retain a business valuation (“BV”) expert is an everyday type of event. Estate and gift tax attorneys need credible valuations for gift tax filings, setting up trusts, and other estate planning strategies. For other attorneys, retaining a business valuation expert is only common in certain cases, such as the marital law attorney involved in the divorce of a business owner. 

  • Calculating Lost Profits in Commercial Litigation
    Calculating Lost Profits in Commercial LitigationWritten by: David M. Beckman, CPA, CFF, CFE

    Lost profits (or lost earnings) are economic damages suffered by a plaintiff as the result of a defendant’s harmful act. Economic damages are measured as the earnings the plaintiff would have received had the harmful event not occurred less the earnings the plaintiff actually received or will receive after the harmful act. 

  • Hiring a Forensic Accounting or Business Valuation Expert: What You Need to Know
    Hiring a Forensic Accounting or Business Valuation Expert: What You Need to KnowWritten by: David M. Beckman, CPA, CFF, CFE

    The following guidance is intended to provide some clarity in evaluating an expert’s credentials and how they may fit in with a particular area of expertise an attorney requires for a particular matter.    


Privacy PolicyTerms and ConditionsContactSite Map   Anchin Live © 2018 All Rights Reserved.