Insights

Strategies for Minimizing Tax Withholdings on US Real Estate Sales by Foreign Individuals

When non-US investors sell real estate property, they may face tax withholding requirements by the United States Internal Revenue Service (IRS). This case study highlights actions that can potentially reduce tax withholding on proceeds when selling US real estate held through a US limited liability company (LLC).

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Strategies for Minimizing Tax Withholdings on US Real Estate Sales by Foreign Individuals2024-02-06T16:01:55-05:00

The Corporate Transparency Act (CTA)

Commencing on January 1, 2024, the federal Corporate Transparency Act (CT) may require many domestic and foreign entities with less than $5,000,000 of annual gross receipts and fewer than 20 employees to file an informational statement with the federal Financial Crimes Enforcement Network (FinCEN).

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The Corporate Transparency Act (CTA)2024-02-08T13:29:39-05:00
Tax
Dec 11, 2023
| Matthew D. Iandolo, EA
|

Top Ten Year-End Tax Planning Checklist

Tax | Dec 11, 2023

As the year draws to a close, taking proactive steps in your financial planning can significantly impact your tax liability. This checklist provides a guide to key strategies that individuals can consider before the end of the year to potentially decrease their income tax. By strategically managing income, deductions, and investments, you can optimize your tax situation and position yourself for a more tax-efficient financial future.

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Top Ten Year-End Tax Planning Checklist2023-12-14T09:47:17-05:00
529
Tax
Aug 17, 2023
|Prager Metis
|

Benefits of a 529 Plan

Tax
| Aug 17, 2023

A 529 plan is a tax-advantaged savings account designed to be used for a beneficiary’s educational expenses. This beneficiary can be a child, another family member, or even yourself.  

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Benefits of a 529 Plan2023-09-18T16:08:45-04:00

Metadata equals money. Monetize your creations.

Entertainment and Music
| Aug 08, 2023

Listen to the latest insights from Susan Hoffnagle from our Royalties group, where she explains what recording artists should consider when creating new music. Contact Susan at royalties@pragermetis.com and learn more about our royalty services. https://youtube.com/shorts/5j4fZWPZiSg?feature=share

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Metadata equals money. Monetize your creations.2023-08-09T13:01:55-04:00

The Power of Expansion – Essential Questions for Italian Companies Entering the U.S

Are you considering American expansion for your Italian business? There are plenty of appealing reasons for Italian companies to expand into the U.S., one of them being the tremendous opportunity for growth and profitability in one of the largest, most diverse consumer markets in the world.

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The Power of Expansion – Essential Questions for Italian Companies Entering the U.S2023-08-14T16:39:43-04:00

How to Drive Company Growth – Unleashing the Power of CFO Services with Christopher Zellman

In this episode, Christopher Zellman, Principle at Prager Metis, discusses the key responsibilities of a CFO and shares his experiences working with businesses to achieve their growth objectives.

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How to Drive Company Growth – Unleashing the Power of CFO Services with Christopher Zellman2023-07-23T20:05:20-04:00

Elevate Your Financial Strategy and Decision-Making: Building on the Synergy between CFO Advisory Services and Client Accounting Services

Prager Metis's CFO Advisory Services and Client Accounting Services (CAS) work in harmony to provide valuable financial insight. Learn more to unlock your organization's full potential.

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Elevate Your Financial Strategy and Decision-Making: Building on the Synergy between CFO Advisory Services and Client Accounting Services2023-10-10T09:25:34-04:00

How to Maximize Your Touring Budget: Contact Your CPA

Are your touring costs eating into your profit margins? Learn the key considerations in budget planning and tax strategies while working with experts to help maximize your touring budget and increase your profit margins. Read the latest insights from Thomas Smith, Entertainment Industry Leader now.

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How to Maximize Your Touring Budget: Contact Your CPA2023-08-03T19:35:10-04:00
CAS

Client Accounting Services Can Transform Your Business – Here’s How

Client Accounting Services (CAS) allow businesses to outsource accounting functions to a third-party firm, preventing issues like, late payments, compliance problems, and poor cash flow.

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Client Accounting Services Can Transform Your Business – Here’s How2023-05-18T13:09:23-04:00

Achieving Success in Accounting: Follow Your Vision, Focus on Relationships

Read the latest insight from Marc Specht, Partner at Perigon Wealth Management, an affiliate of Prager Metis. Early in Marc's career, he encountered many situations that most people would view as obstacles, but he saw them as opportunities.

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Achieving Success in Accounting: Follow Your Vision, Focus on Relationships2023-04-14T09:25:15-04:00

6 Keys to Career Growth and Success for Young Accounting Professionals

Don't miss reading Glenn L. Friedman's most recent article, "6 Keys to Career Growth and Success for Young Accounting Professionals". Through Glenn's insights and observations, this article discusses different ways to achieve your goals and strive for a successful career through hard work and passion.

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6 Keys to Career Growth and Success for Young Accounting Professionals2023-03-23T14:52:16-04:00
bookkeeping, payroll, payroll services, outsourcing accounting services,

Why Outsourced Client Accounting Services Make Sense for Nonprofits

Most nonprofits operate under a tight budget with a lean staff so they can maximize the amount of funds and resources allocated to their mission. The goal is to reduce general and administrative costs to make a bigger difference in the community they serve.

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Why Outsourced Client Accounting Services Make Sense for Nonprofits2023-10-11T10:12:43-04:00

Hard Work, Communication, and Passion Are Essential to Closing the Skills Gap in Accounting

Glenn L. Friedman's most recent article, "Hard Work, Communication, and Passion Are Essential to Closing the Skills Gap in Accounting" gives valuable insight into obstacles the accounting industry has faced and what you need to know to change them.

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Hard Work, Communication, and Passion Are Essential to Closing the Skills Gap in Accounting2023-07-03T08:41:31-04:00

Los Impuestos del Metaverso y NFT

A medida que el Metaverso evoluciona, también lo hacen la Contabilidad Distribuida (DLT), Blockchain, los NFTs y los Smart Contracts, los cuales impulsan la exposición del comercio de bienes y servicios en el Metaverso y promueven su integración en la economía del mundo “real”.

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Los Impuestos del Metaverso y NFT2022-11-14T15:11:08-05:00
Advisory
Oct 19, 2022
| Robert O. Mayer, CPA
|

Comprender y evitar las trampas de la expansión internacional

Advisory | Oct 19, 2022

Si su empresa está considerando establecer operaciones en los EE. UU. o en otro país, el equipo de CFO Advisory Services de Prager Metis puede ayudarlo a evitar errores comunes y maximizar los beneficios de la expansión internacional.

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Comprender y evitar las trampas de la expansión internacional2022-10-19T15:38:42-04:00
Advisory
Oct 11, 2022
| Diane L. Walsh
|

How to Engage Your Whole Firm to Grow Social Media

Advisory | Oct 11, 2022

Growing your social media presence and reach is now more critical than ever to a professional services firm. Your most crucial conduits of this are your own team members. I understand this is a lot easier said than done. However, you can implement several processes and communications to encourage team members to participate. 

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How to Engage Your Whole Firm to Grow Social Media2022-11-01T12:09:47-04:00

Understanding and Avoiding the Pitfalls of International Expansion

If your company is considering setting up operations in the U.S. or another country, the Prager Metis CFO Advisory Services team can help you avoid common pitfalls and maximize the benefits of international expansion.

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Understanding and Avoiding the Pitfalls of International Expansion2024-03-19T17:21:09-04:00
Tax Controversy
Aug 25, 2022
|Prager Metis
|

IRS PROVIDING PENALTY RELIEF FOR MILLIONS.
By, Rachel Baldwin, EA

Tax Controversy
| Aug 25, 2022

On August 24, 2022, the IRS announced (Notice 2022-36) that it will not impose late filing penalties for specific types of individual and business tax returns for taxable years 2019 and 2020 in an effort to alleviate its processing backlog and provide additional support to those affected by COVID-19.

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IRS PROVIDING PENALTY RELIEF FOR MILLIONS.
By, Rachel Baldwin, EA
2022-08-25T18:13:03-04:00

How CFO Advisory Services Can Help Your Company Emerge from an Economic Downturn in a Stronger Position

Instead of approaching a bad economy in a state of panic, take advantage of this opportunity to assess your current financial situation and strengthen your position.

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How CFO Advisory Services Can Help Your Company Emerge from an Economic Downturn in a Stronger Position2022-07-27T17:30:35-04:00
ServicesCFO, CFO Advisory, AdvisoryCFO, consultingCFO, servicesCFO, M&A strategy, business management
Advisory
Jul 06, 2022
|Prager Metis
|

CFO Advisory Services News

Advisory
| Jul 06, 2022

The employee retention tax credit (ERC) was enacted as part of the CARES Act and allows for a refundable tax credit against the employer’s share of Social Security employment taxes. This credit may allow for significant tax refund opportunities for eligible taxpayers.

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CFO Advisory Services News2022-07-06T09:40:50-04:00

Why a Quality of Earnings Assessment Is a Must for Sales and Acquisitions
By: Robert O. Mayer, CPA

What is the value of my business? What’s the right sale price? What data do I need to present to justify that price? From a buyer’s perspective, what’s the right acquisition price? Is the company as financially sound as it appears?

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Why a Quality of Earnings Assessment Is a Must for Sales and Acquisitions
By: Robert O. Mayer, CPA
2022-07-27T14:41:20-04:00
communication, corporate policy, business communication

Why Business Communication and Responsiveness Need Clarity and Consistency

When the telephone was the primary mode of business communication, people would expect a call back in a day or two, depending on the nature of the call. When email became the dominant form of communication, that window to respond shortened to 24 hours at most.

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Why Business Communication and Responsiveness Need Clarity and Consistency2022-09-22T18:16:03-04:00
IRS Help
Tax Controversy
Apr 24, 2022
|Prager Metis
|

IRS Tax Controversy Case Management Rules & Tools: Winning Strategies For Playing Chess With The IRS

Tax Controversy
| Apr 24, 2022

Please join Sarah A. Fields, EA of Prager Metis, for this informative Zoominar with the Gloucester County Legal Education Association, where she will present “IRS Tax Controversy Case Management Rules and Tools: Winning Strategies for Playing Chess with the IRS” on May 4th, 4:00 pm.

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IRS Tax Controversy Case Management Rules & Tools: Winning Strategies For Playing Chess With The IRS2023-07-24T14:13:20-04:00
Digital Assets
Apr 05, 2022
| Scott Davis, CPA
|

Donating Cryptocurrency to Ukrainian Humanitarian Efforts? Proceed Carefully.

Digital Assets | Apr 05, 2022

Over the past few years, digital currency has earned the reputation for being the easiest and most efficient way to move money across international borders. Experts say the ability to accelerate the flow of money at a reduced cost, along with the fear of surveillance and the impact of war on the local currency are the primary reasons why Ukrainian government officials recently began requesting donations in cryptocurrency.

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Donating Cryptocurrency to Ukrainian Humanitarian Efforts? Proceed Carefully.2022-04-06T11:36:19-04:00

The Latin American Tech Scene and Its Relationship with the U.S.

With the digital economy, investors no longer have to move talent to the U.S. They’re on the hunt for the best talent and most innovative technology, regardless of where they are. Of course, a key factor to keep in mind is when obtaining funding and initiating operations in a new market that requires an analysis of the tax obligations that will result.

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The Latin American Tech Scene and Its Relationship with the U.S.2022-04-27T16:25:06-04:00

Metaverso e Impuestos

El metaverso se refiere a un mundo virtual altamente inmersivo donde las personas puedrán reunirse para socializar, jugar, trabajar y comerciar con bienes y servicios virtuales (y no virtuales). Algunos lo llaman un universo paralelo, poblado por avatares y toda forma de elementos digitales (en forma de NFTs) que se encuentran en nuestro mundo diario.

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Metaverso e Impuestos2022-04-27T16:26:45-04:00

Podcast – Being Smart About Tax Season

What if you owe money to the IRS? What happens if you get audited? What things are deductible? Click here to hear E. Martin Davidoff, Partner-in-Charge of the Prager Metis Tax Controversy Group, answer these and other questions in this “Can Do! Essential Business Lessons”

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Podcast – Being Smart About Tax Season2022-04-03T15:06:25-04:00

5 factores a considerar al elegir la ubicación adecuada para su negocio

Ya sea que esté iniciando un nuevo negocio, mudándose a una nueva ubicación, expandiéndose a nuevos mercados, considerando adquisiciones o ingresando al mercado de los EE.UU. desde otro país, el asociarse con el equipo de CFO Advisory para los servicios de selección de sitios, le permitirá tomar decisiones informadas y seguras. Leer el artículo "5 factores a considerar al elegir la ubicación adecuada para su negocio" por Robert O. Mayer, CPA para obtener más información.

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5 factores a considerar al elegir la ubicación adecuada para su negocio2022-04-08T12:52:59-04:00

Metaverse & Taxation

The metaverse refers to an immersive virtual world where individuals can socialize, play, work, and trade in virtual (and non-virtual) goods and services. Many questions come to mind as we all begin to navigate this virtual space. Will global tax authorities be able to assert tax authority over transactions occurring in a virtual arena that lacks the type of provincial, state, and national boundaries that provide the framework for real-world tax administration?

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Metaverse & Taxation2023-05-04T09:10:03-04:00
Not-for-Profit
Mar 07, 2022
|Prager Metis
|

Not-for-Profit Focus – February

Not-for-Profit
| Mar 07, 2022

We recently received a question from a client regarding who should participate in executive sessions of the board. While we answered based on our experiences with the boards of many different organizations, the question prompted our own deeper dive into some of the available literature on board (and board committee) executive sessions. That research drove our decision to share some thoughts on executive sessions in this issue of Not-for-Profit Focus.

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Not-for-Profit Focus – February2022-05-04T10:34:51-04:00

5 Factors to Consider When Choosing the Right Location for Your Business

Whether you’re starting a new business, moving to a new location, expanding to new markets, considering acquisitions, or entering the U.S. from another country, partnering with the CFO Advisory team for site selection services will allow you to make educated, confident decisions. Read the article "5 Factors to Consider When Choosing the Right Location for Your Business" by Robert O. Mayer, CPA to find out more.

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5 Factors to Consider When Choosing the Right Location for Your Business2022-04-03T15:25:20-04:00

Caso Práctico: El Equipo de CFO Services Asesora a una Startup SaaS sobre cómo Iniciar un Crecimiento Sostenible

Los fundadores de una Startup SaaS experimentaban lo que llamamos “Remordimiento del Fundador”. Ellos mismos se encargaban de todo el trabajo operativo, financiero y de cumplimiento, incluidos los informes financieros para Accionistas e Inversionistas. Su principal problema era la falta de un plan viable para administrar el negocio.

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Caso Práctico: El Equipo de CFO Services Asesora a una Startup SaaS sobre cómo Iniciar un Crecimiento Sostenible2022-04-07T16:56:23-04:00

Case Study: CFO Advisory Team Helps SaaS Startup Get on Track for Sustainable Growth

The Founders of a SaaS startup were experiencing what we call “Founder’s remorse.” They were handling all operational, finance, and compliance work themselves, including financial reporting to the Board and Investors. The major underlying issue was that they never had a viable plan for managing this side of the business.

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Case Study: CFO Advisory Team Helps SaaS Startup Get on Track for Sustainable Growth2022-04-03T15:26:12-04:00

Oportunidad y Complejidad del Mercado Estadounidense para Inversionistas Latinoamericanos

Existen múltiples razones por las cuales los inversionistas latinoamericanos, tanto familias como empresas, buscan invertir en los EE. UU. Estados Unidos ofrece el mercado de consumo más grande y el gasto doméstico más alto del mundo, lo que representa más de una cuarta parte del consumo doméstico mundial.

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Oportunidad y Complejidad del Mercado Estadounidense para Inversionistas Latinoamericanos2022-04-03T15:12:25-04:00

Why Your Team’s Families Are Such an Important Part of Your Organization

Until recently, most leaders would probably say that the people who comprise their organization are the ones who show up to work and collect a paycheck. That couldn’t be farther from the truth. After all, where would your team be without the families and support systems behind them?

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Why Your Team’s Families Are Such an Important Part of Your Organization2022-03-30T11:07:31-04:00

Understanding Opportunity and Complexity of the US Market for Latin American Investors

There are plenty of reasons why Latin American investors, both families, and companies, seek to invest in the US. The US offers the largest consumer market and the highest household spending in the world, accounting for more than one-quarter of global household consumption.

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Understanding Opportunity and Complexity of the US Market for Latin American Investors2022-04-03T15:16:51-04:00

Case Study: CFO Advisory Team Assists Italian Company with Audit and SEC Reporting

When an Italian Company was having difficulty with a U.S.-based auditing firm, a Partner and Director of the Italian Group in the International Department of Prager Metis CPAs, Andrea Fantozzi, referred the Company to Prager Metis - CFO Advisory Services. We were retained by the Italian Company, and immediately got to work assisting the CFO and Controller by providing documentation that would satisfy the auditors and required by the Company to move forward with its planned public offering.

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Case Study: CFO Advisory Team Assists Italian Company with Audit and SEC Reporting2022-03-10T17:45:24-05:00

How Latin America Can Help U.S. Companies Compete in the Digital Economy Written By: Ricardo Aramburo Williams Latin America Global Services Leader

There is a decades-long misconception in many U.S. entrepreneurial spaces about Latin American markets: “There is not enough wealth in Latin America for people in the region to buy products and services.” In other words, if you are part of a U.S. company trying to compete globally, Latin American markets are not economically relevant, so you should focus your expansion efforts on a different region. I’ve heard this many times over the years.

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How Latin America Can Help U.S. Companies Compete in the Digital Economy Written By: Ricardo Aramburo Williams Latin America Global Services Leader2022-04-27T16:27:42-04:00

Webinar: December Federal Tax Practice Study Group

Don't miss E. Martin Davidoff, Partner-in-Charge, National Tax Controversy, and Alison Gadoua, Tax Controversy Specialist, as they facilitate this special study group webinar on December 2, 2021. Sponsored by the AAA-CPA, this study group will exchange ideas for a roundtable discussion of tax practice before the IRS.

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Webinar: December Federal Tax Practice Study Group2022-02-16T07:51:42-05:00

“Shenkman Fall Webinar Series” – Webinar # 4: “The State-Based Right of Publicity: An Overview of Estate Tax and Valuation Issues”

Ladidas Lumpkins CPA, JD, LL.M., Partner-in-Charge of Private Wealth Services, will be speaking at this year’s "Shenkman Fall Webinar Series,” hosted by Shenkman Private Client Group of Oppenheimer & Co. Inc. Join Ladidas as she discusses "The State-Based Right of Publicity: An Overview of Estate Tax and Valuation Issues". Topics include: What is the right of publicity, what state law applies, is the right transferable, and how is it valued?

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“Shenkman Fall Webinar Series” – Webinar # 4: “The State-Based Right of Publicity: An Overview of Estate Tax and Valuation Issues”2022-03-03T10:49:24-05:00

Planificación Fiscal Internacional para la Industria de Medios de Comunicación y Entretenimiento

Planificación Fiscal Internacional para la Industria de Medios de Comunicación y Entretenimiento La digitalización de la industria de medios de comunicación y entretenimiento ha transformado la mayoría de los aspectos de su cadena de suministro global, desde la creación y adquisición de contenido, hasta el procesamiento, edición y distribución global. Además de modificar drásticamente las limitaciones de distancia, tiempo y costos de transacción, la cadena de suministro digitalizada brinda la oportunidad de aumentar la eficiencia fiscal. Sin embargo, esta eficiencia fiscal no se obtiene automáticamente; se requiere una planificación proactiva.

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Planificación Fiscal Internacional para la Industria de Medios de Comunicación y Entretenimiento2022-04-27T16:28:27-04:00

Case Study: CFO Advisory Team Brings Best Practices and Financial Clarity

Our CFO Advisory experts were introduced to a company, which will remain anonymous, because the company needed financial statement services so it could present a picture of its entire operation to a potential acquiring company. The deeper our team analyzed the company’s financial and tax history, the more apparent it became that the company was in need of a broader scope of services. 

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Case Study: CFO Advisory Team Brings Best Practices and Financial Clarity2022-03-10T17:45:37-05:00
|

7 Consejos para Navegar por las Aguas Inexploradas de una Expansión en el Mercado de EE.UU.

| Nov 05, 2021

SERVICIOS EMPRENDEDORES | SMADAR RINAT | 25 DE OCTUBRE DE 2021 Existen muchas razones por las que casi cualquier empresa fuera de los Estados Unidos quisiera ingresar al mercado estadounidense. Por ejemplo, EE. UU. tiene un sistema legal predecible y transparente. Además, que el gobierno de los EE. UU. acepta inversión extranjera directa. Y para atraer inversión extranjera, muchos estados y gobiernos locales de EE. UU. ofrecen incentivos y apoyan iniciativas innovadoras y de colaboración. Pero, dicho lo anterior, expandirse al mercado estadounidense puede resultar complicado.

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7 Consejos para Navegar por las Aguas Inexploradas de una Expansión en el Mercado de EE.UU.2022-02-16T07:20:53-05:00

7 Tips for Navigating the Uncharted Waters of an Expansion into the U.S. Market

There are many reasons why just about any company outside the United States would want to enter the U.S. market. For example, the U.S. has a predictable and transparent legal system. In addition, the U.S. government welcomes foreign direct investment. And to attract overseas investors, many U.S. states and local governments offer incentives and support innovative and collaborative initiatives.

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7 Tips for Navigating the Uncharted Waters of an Expansion into the U.S. Market2022-03-03T10:28:52-05:00

How to Overcome Obstacles to a Smooth Transition When Partners Retire

Every accounting firm goes through a lifecycle in which partners approach the end of their careers and emerging leaders take on their responsibilities and relationships. When properly managed, this can create a win-win-win situation. The partner can retire with peace of mind, rising professional advances in his or her career, and the organization benefits from a seamless transition in leadership without compromising the level of service delivered to the customer.

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How to Overcome Obstacles to a Smooth Transition When Partners Retire2022-02-16T07:06:27-05:00

Optimizing your Business Asset in the New Economy – Growing Wealth and Maintaining Value

On behalf of Lewis Brisbois, Prager Metis, and Bank of America Merrill Lynch, we invite you to a unique conversation to discuss topics that are top of mind with many of our successful clients. You will hear tested successful strategies that have been adopted to the current economy to:

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Optimizing your Business Asset in the New Economy – Growing Wealth and Maintaining Value2022-03-03T10:20:19-05:00
Not-for-Profit
Sep 22, 2021
|Prager Metis
|

Not-for-Profit Focus

Not-for-Profit
| Sep 22, 2021

While many of us have tried to grab some vacation time this summer, two of the leading voices focused on the NFP sector issued important reports. BoardSource released its June 2021 Leading with Intent: BoardSource Index of Nonprofit Board Practices, and Independent Sector issued Trust in Civil Society: Understanding the factors driving trust in nonprofits and philanthropy. A brief discussion on each of these reports, including excerpted key findings, follows but we encourage you to access the full reports to identify the data most relevant to your organizations.

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Not-for-Profit Focus2022-02-09T12:32:24-05:00
Webinars
Sep 21, 2021
|Prager Metis
|

Not-for-Profit Knowledge Network: Enhancing NFP Financial Reporting – A Critique of Audited Financial Statements & Disclosures

Webinars
| Sep 21, 2021

The OSCPA Not-for-Profit Knowledge Networks offer a great opportunity to explore important not-for-profit topics in informal discussions with experts and peers – and to obtain valuable CPE.

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Not-for-Profit Knowledge Network: Enhancing NFP Financial Reporting – A Critique of Audited Financial Statements & Disclosures2022-03-10T19:26:19-05:00

Building a Relationship With Your Money

Please join Prager Metis' Lori A. Roth, CPA/ABV, CFF, Co-Managing Partner at the 7th Annual Women Business Leaders Forum hosted by New Jersey Business & Industry Association (NJBIA) on September 24th, 12:30 PM – 1:30 PM, where she will be discussing "Building a Relationship With Your Money". 

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Building a Relationship With Your Money2021-11-01T15:47:27-04:00

Doing Business in the US, Current relationship between Italy and US companies

Please join Prager Metis for a webinar on Wednesday, September 29 at 10 am ET/4 pm CT, "Doing business in the US, Current relationship between Italy and US companies" with Andrea Fantozzi, Partner, and Italian Global Services Leader. Topics being discussed are: geopolitical perspectives, tax updates, and opportunities, and the legal framework of foreign companies investing in the US. Register Today!

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Doing Business in the US, Current relationship between Italy and US companies2021-09-14T15:01:33-04:00
Case Studies
Sep 08, 2021
|Prager Metis
|

Inversión Eficiente en Propiedades Residenciales o Comerciales en EE. UU. para Personas y Empresas No Residentes

Case Studies
| Sep 08, 2021

Los clientes no residentes, incluidos individuos, fideicomisos y empresas, generalmente se encuentran exentos del impuesto sobre las ganancias de capital en EE. UU. por la venta de activos de capital de EE. UU., incluidas las inversiones en valores y las acciones corporativas de EE.UU. Sin embargo, las inversiones en participaciones inmobiliarias estadounidenses pueden estar sujetas a 3 tipos de impuestos en EE.UU.

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Inversión Eficiente en Propiedades Residenciales o Comerciales en EE. UU. para Personas y Empresas No Residentes2021-09-08T15:56:41-04:00

Achieving Work-Life Well-Being: Organizational Support, Individual Responsibility

One could argue that the concept of work-life balance originated way back in 1817 when Welsh manufacturer and labor activist Robert Owen suggested dividing the day into three equal parts – eight hours of work, eight hours of recreation, and eight hours of rest. Of course, there wasn’t much balance before the Industrial Revolution as people worked an average of 65 hours per week. Farmers lived at the farm. Shop owners lived above the shop. Most of the modern barriers between work and life didn’t exist.

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Achieving Work-Life Well-Being: Organizational Support, Individual Responsibility2021-08-20T11:18:14-04:00
Tax
Aug 10, 2021
| Jonathan Gold
|

Preventing Tax-Related Identity Theft with an IP PIN

Tax | Aug 10, 2021

Tax related identity theft is an issue that began several years ago and has been steadily increasing as each year passes.  We see this most often when electronically filed tax returns are rejected by the IRS with the most common reason for the rejections being due to previously filed fraudulent returns.  Fraudsters can file tax returns using a taxpayer’s (or dependent’s) social security number in order to generate fraudulent refunds without the taxpayer’s knowledge.

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Preventing Tax-Related Identity Theft with an IP PIN2022-03-03T10:21:56-05:00

New York State Covid Tax Credits

New York State announced the launch of the $35 million Restaurant Return to Work Credit Program on July 29, 2021. This credit can provide up to $50,000 ($5,000 per new worker hired between April 1, 2021 and December 31, 2021) to qualified restaurants in New York State and City. Also, On July 22nd New York State announced the launch of a two-year $100 million state tax credit program for qualified production companies that are principally engaged in the production of musical or theatrical productions located in New York City.

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New York State Covid Tax Credits2021-08-20T11:16:12-04:00
accrual to cash conversion

Case Study: Understanding Cash vs. Accrual Can Create Opportunities for Tax Savings and Process Efficiency

Many companies assume the tax professional processing their returns will convert their financials to tax basis. This can be a costly assumption in terms of both tax savings on a yearly basis and ongoing financial reporting efficiency. The Italian Service Group of Prager Metis recently assisted a US subsidiary of an Italy-based organization with the conversion of their books from cash to accrual basis.

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Case Study: Understanding Cash vs. Accrual Can Create Opportunities for Tax Savings and Process Efficiency2022-09-22T18:09:00-04:00
cfc tax
Case Studies
Jul 26, 2021
|Prager Metis
|

INTERNATIONAL TAX – Structuring to Avoid CFC Status Arising from Downward Attribution of Foreign Corporation Stock Ownership

Case Studies
| Jul 26, 2021

Prior to 2017 Tax Reform, U.S. tax law provided that a U.S. person (including a domestic corporation) could not be attributed ownership of stock from a foreign person for purposes of determining if a foreign corporation was a more than 50 percent owned CFC. 

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INTERNATIONAL TAX – Structuring to Avoid CFC Status Arising from Downward Attribution of Foreign Corporation Stock Ownership2022-05-11T16:27:31-04:00
Case Studies
Jul 26, 2021
|Prager Metis
|

INTERNATIONAL TAX – Tax Efficient Investment in US Residential or Commercial Property for Nonresident Individuals and Businesses

Case Studies
| Jul 26, 2021

Tax Efficient Investment in US Residential or Commercial Property for Nonresident Individuals and Businesses Nonresident clients, including individuals, trusts and corporations, are generally exempt from U. S. capital gains tax on the sale of US capital assets, including investment securities and U.

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INTERNATIONAL TAX – Tax Efficient Investment in US Residential or Commercial Property for Nonresident Individuals and Businesses2021-08-20T11:21:10-04:00
Case Studies
Jul 26, 2021
|Prager Metis
|

INTERNATIONAL TAX – Cross Border Tax Planning for Ownership and Exploitation of Music Copyrights

Case Studies
| Jul 26, 2021

Cross Border Tax Planning for Ownership and Exploitation of Music Copyrights The decentralization of media production across the globe and the increased use of digital and online distribution creates an environment where media that has up to now been produced and owned in the US can now be produced, owned, and exploited from lower-tax foreign jurisdictions. Added to this, the emergence of “remote working” as a viable mode of conducting business operations means it is no longer necessary to be physically present in a given location in order to effectively carry out business activities.

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INTERNATIONAL TAX – Cross Border Tax Planning for Ownership and Exploitation of Music Copyrights2023-07-03T09:59:37-04:00
Case Studies
Jul 26, 2021
|Prager Metis
|

INTERNATIONAL TAX- Structuring Sales into the US from a Foreign Country

Case Studies
| Jul 26, 2021

Structuring Sales into the US from a Foreign Country Foreign manufacturing company desires to sell finished products in the US and required assistance in determining appropriate options for US marketing and distribution. Potential cross-border structuring options included:

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INTERNATIONAL TAX- Structuring Sales into the US from a Foreign Country2021-09-02T14:01:55-04:00

Post-Mortem Rights of Publicity – Estate Taxation and Valuation Issues

Ladidas Lumpkins, Partner-In-Charge of Private Wealth Services joins a discussion with Barry Werbin, Counsel in Herrick’s Intellectual Property Group, and R. Andrew Shore, Partner in Herrick’s Trusts & Estates department, on post-mortem rights of publicity – estate taxation and valuation issues. Click here

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Post-Mortem Rights of Publicity – Estate Taxation and Valuation Issues2021-07-22T17:13:04-04:00
succession plans

How do you solve the shortage of succession plans? Make one

Since the audience for this article comprises accountants, let’s start with a number: 35%. What is that? It is the percentage of organizations in the United States that have “a formalized succession planning process.” Meaning just a little over one-third of U.S. businesses are prepared for....

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How do you solve the shortage of succession plans? Make one2021-07-12T21:29:50-04:00
Tax Controversy
Jun 16, 2021
|By: Alison Gadoua, Tax Controversy Specialist
|

The Three-Martini Lunch

Tax Controversy
|By: Alison Gadoua, Tax Controversy Specialist
| Jun 16, 2021

The term “Three-Martini Lunch” was coined in the U.S. during the 1960’s and 1970’s when NYC executives would gather and claim that these libations made them more creative. 

Read More »

The Three-Martini Lunch2021-06-16T15:38:06-04:00

How Recognition and Appreciation Change Lives for the Better

If the pandemic has given us one positive, it’s perspective. Frankly, the business and the work are just the business and the work. The health and well-being of real people – physical, mental, and emotional – are far more important.

Read More »

How Recognition and Appreciation Change Lives for the Better2021-08-20T11:14:07-04:00
Federal Tax

Federal Tax Practice Study Group, Thursday, June 17, 2021 2:00pm – 3:00pm Eastern

Don't miss E. Martin Davidoff, Partner-in-Charge, National Tax Controversy, and Alison Gadoua, Tax Controversy Specialist, as they facilitate this special study group webinar on June 17, 2021. Sponsored by the AAA-CPA,

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Federal Tax Practice Study Group, Thursday, June 17, 2021 2:00pm – 3:00pm Eastern2021-06-09T19:51:12-04:00

E. Martin Davidoff, CPA, Esq. and Robbin E. Caruso, CPA, CGMA to Present at AAA-CPA Annual Meeting

Prager Metis Partners, E. Martin Davidoff and Robbin Caruso, will be speaking at the AAA-CPA Annual Meeting taking place June 23-26. E. Martin Davidoff will present “IRS Offers in Compromise: A Case Study” during the Thursday morning session.

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E. Martin Davidoff, CPA, Esq. and Robbin E. Caruso, CPA, CGMA to Present at AAA-CPA Annual Meeting2021-06-09T19:47:11-04:00

Highlights of the New York State Pass-through Entity Tax

The recently passed Budget Act was designed to benefit owners of eligible pass-through entities. This article highlights the key provisions of the Budget Act, workarounds enacted by other states, and general pass-through legislation considerations.

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Highlights of the New York State Pass-through Entity Tax2021-08-20T11:01:10-04:00

How Should a Leader Respond When a Top Performer Decides to Leave?

“Did you hear Michael is leaving? That’s a huge loss! You can’t replace someone like that. Somebody screwed up big time. What do we do now?” This is a fairly common emotional reaction in the lunchroom when a top performer leaves

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How Should a Leader Respond When a Top Performer Decides to Leave?2021-08-20T10:59:50-04:00
Not-for-Profit
Apr 05, 2021
| Scott Davis, CPA
|

How Nonprofits Can Effectively Tap PPP Opportunities And Avoid a ‘Surprise’ Audit

Not-for-Profit | Apr 05, 2021

It is not often that articles about accounting contain hyperbole, but some recent reports on PPP loans have included what might be called overly zealous warnings that nonprofits taking advantage of this stimulus opportunity

Read More »

How Nonprofits Can Effectively Tap PPP Opportunities And Avoid a ‘Surprise’ Audit2021-08-20T10:57:13-04:00
HHS Funding
Advisory
Mar 26, 2021
| Scott Davis, CPA
|

HHS Funding for Healthcare Entities is Subject to Audit and the Guidance is Not New

Advisory | Mar 26, 2021

2020 created disruption in ways that were inconceivable before the pandemic.  And probably more so for healthcare entities than any other industry.  As our hospitals and healthcare providers have focused on caring for us,

Read More »

HHS Funding for Healthcare Entities is Subject to Audit and the Guidance is Not New2021-03-26T18:27:21-04:00
HHS Funding
Advisory
Mar 16, 2021
| Scott Davis, CPA
|

Good News for Healthcare Entities Regarding HHS Funding Audits: Nothing New, and Maybe No Audit at All

Advisory | Mar 16, 2021

As anyone in the healthcare field knows, the demands of the pandemic stretched and strained their resources, both human and financial, at unprecedented levels. To meet the task of caring for those afflicted by COVID-19,

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Good News for Healthcare Entities Regarding HHS Funding Audits: Nothing New, and Maybe No Audit at All2021-08-20T10:54:00-04:00
Employee, ERC ,Employee Retention, Billboard, 2021 Top Business Managers List, Wealth Tax, Robbin Caruso

Highlights of $1.9 Trillion COVID-19 Relief Bill Signed into Law by President Biden on March 11, 2021.

The following information highlights the key tax relief provisions included in the American Rescue Plan Act of 2021 (“TARPA 2021”) enacted into law on March 11, 2021. The relief includes many provisions to help both individuals and business

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Highlights of $1.9 Trillion COVID-19 Relief Bill Signed into Law by President Biden on March 11, 2021.2021-08-20T10:53:27-04:00
Featured UK
Mar 04, 2021
|Prager Metis
|

Personal Tax

Featured UK
| Mar 04, 2021

The personal allowance is currently £12,500. Budget 2018 announced that the allowance would remain at the same level until 2020/21 and the statutory provision to increase the allowance annually by CPI was to be overridden.

Read More »

Personal Tax2023-05-08T11:20:26-04:00
Featured UK
Mar 04, 2021
|Prager Metis
|

Other Matters

Featured UK
| Mar 04, 2021

Land and buildings transaction taxes are devolved to Scotland (Land and Buildings Transaction Tax) and Wales (Land Transaction Tax). Stamp Duty Land Tax (SDLT) applies to transactions in England and Nort

Read More »

Other Matters2023-05-08T11:23:11-04:00
Featured UK
Mar 04, 2021
|Prager Metis
|

Budget 2021

Featured UK
| Mar 04, 2021

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget 'meets the moment with a three-part plan to protect the jobs and livelihoods of the British people'.

Read More »

Budget 20212023-05-08T11:20:17-04:00
Featured UK
Mar 04, 2021
|Prager Metis
|

Business

Featured UK
| Mar 04, 2021

In 2020, the government introduced a number of government-guaranteed coronavirus loan schemes. In December 2020 the Chancellor extended, until the end of March 2021, access to the Bounce Back Loan Scheme,

Read More »

Business2023-05-08T11:21:55-04:00
Small Businesses

How Small Businesses Can Make the Most of Their Taxes

Filing taxes for small businesses might be a little different this year.  Join Prager Metis Partner Robbin Caruso and other panelists on March 2, 2021 to learn more about how the pandemic, PPP Loans and revenue losses could impact your fili

Read More »

How Small Businesses Can Make the Most of Their Taxes2021-08-20T10:50:39-04:00
PPP loans

Where Are We Now? Updates on COVID-19 Relief, PPP Loans, and Tax Law Changes

Join NJBIA and Prager Metis Partners Robbin Caruso and Edward Rigby for this webinar on February 17 to hear about the latest updates on COVID-19 relief measures, PPP loans, and tax law changes affecting both individuals and businesses.

Read More »

Where Are We Now? Updates on COVID-19 Relief, PPP Loans, and Tax Law Changes2021-08-20T11:00:02-04:00
163j, irc 163, irc 163j

Everything You Need to Know About Shuttered Venue Operator Grants

The Consolidated Appropriation Act of 2021 signed into law on December 27, 2020 includes a $15 billion grant program that will be administered by the U.S. Small Business Administration (the “SBA”) to provide financial aid to struggling live

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Everything You Need to Know About Shuttered Venue Operator Grants2022-03-03T10:46:09-05:00
Presentations
Jan 16, 2021
| Hayley Mayer, EA
|

Watch “Advisory Best Practices for Accounting, CPA, and Outsourced CFO Firms” (Webinar Recording)

Presentations | Jan 16, 2021

To help you better understand the opportunity to add advisory to more traditional outsourced accounting and client accounting services, Vic.ai Academy has invited five expert panelists from a broad cross-section of firms for

Read More »

Watch “Advisory Best Practices for Accounting, CPA, and Outsourced CFO Firms” (Webinar Recording)2021-08-20T10:53:10-04:00

Webinar: IRS Offers in Compromise: A Case Study Wednesday, January 20th 1:00-2:00pm(EST)

Sponsored by ADP, this webinar will take participants on a hands-on journey through the entire IRS Offer in Compromise process. Presenters will be E. Martin Davidoff, Partner-in-Charge, National Controversy and Sarah Fields,

Read More »

Webinar: IRS Offers in Compromise: A Case Study Wednesday, January 20th 1:00-2:00pm(EST)2021-08-20T10:55:53-04:00
163j, irc 163, irc 163j
Tax
Jan 13, 2021
| Edward P. Rigby, CPA, MST
|

IRC Section 163(j) Update, Including Highlights of CARES Act Modifications and IRS Final Regulations

Tax | Jan 13, 2021

This article summarizes the key highlights of the CARES Act modifications and recent IRS regulations associated with the interest expense limitation rules under IRC Section 163(j).

Read More »

IRC Section 163(j) Update, Including Highlights of CARES Act Modifications and IRS Final Regulations2023-07-03T09:55:08-04:00

Webinar: Federal Tax Practice Study Group Tuesday January 26, 2021 2:00-3:00pm(EST)

Join E. Martin Davidoff, Partner-in-Charge, National Tax Controversy and Alison Gadoua, Tax Controversy Specialist, as they facilitate this special study group webinar with IRS Commissioner Charles Rettig on January 26th.

Read More »

Webinar: Federal Tax Practice Study Group Tuesday January 26, 2021 2:00-3:00pm(EST)2021-08-20T10:55:40-04:00

How a Nonprofit Can Go from $50 Million to $150 Million on a ‘Top Charities List’

According to the 21st annual Forbes Top Charities list, which ranks the largest U.S. charities based on private donations received, “The 100 largest charities pulled in $51.5 billion in donations,” which “represents 12% of all charitable co

Read More »

How a Nonprofit Can Go from $50 Million to $150 Million on a ‘Top Charities List’2021-08-20T10:51:07-04:00
Not-for-Profit
Dec 16, 2020
| Scott Davis, CPA
|

Solving the Catch-22 for Nonprofits of Fundraising vs. Program Allocations

Not-for-Profit | Dec 16, 2020

Top executives at nonprofits that rely on donations, and their CFOs, know that in terms of funding and expenditures, accounting for a nonprofit is a bit of a catch-22. That is, a nonprofit must expend money on its programs – the reason it e

Read More »

Solving the Catch-22 for Nonprofits of Fundraising vs. Program Allocations2021-01-07T17:37:20-05:00

Mergers & Acquisitions: What the CFO Should Handle

As a result of Covid-19, many businesses are entertaining the sale of their company or considering the purchase of another business which may be on the market. Determination of market value involves gathering and analyzing a good deal of

Read More »

Mergers & Acquisitions: What the CFO Should Handle2022-03-10T17:45:49-05:00

Restructuring Your Finance Department – Consider CAS

The COVID-19 pandemic has adversely affected many businesses and their ability to function. Office closures and staff reductions can hamper a business’s ability to have immediate access to up-to-date financial information which is essentia

Read More »

Restructuring Your Finance Department – Consider CAS2022-03-10T17:46:07-05:00

Why a Relationship with a Bank is Important for Your Business

One of the most important roles a CFO plays relative to a business’s success, is in establishing and maintaining a good relationship with a banker. This relationship is vital and should provide the company with access to short term loans

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Why a Relationship with a Bank is Important for Your Business2022-01-13T14:07:57-05:00

How Can a Professional Employer Organization (PEO) Benefit Your Company?

Our CFO Advisory Services Team is often asked, “What can we do about the high costs of employee health insurance and benefit plans?”, and our response is, “have you looked into a PEO?”

Read More »

How Can a Professional Employer Organization (PEO) Benefit Your Company?2022-01-13T14:07:56-05:00

Post-Election Estate Planning and Tax Mitigation Strategies

The outcome of the November 2020 election will likely prompt wealthy individuals and families to identify, assess and mitigate potential legal and tax risks when it comes to their personal tax and estate planning. Join Prager Metis and McC

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Post-Election Estate Planning and Tax Mitigation Strategies2021-08-20T11:05:29-04:00

GGI International Tax Practice Group Presentation

Own one or more foreign subsidiaries? Learn more about cross-border tax planning options from our team of experts. Last week, Fernando R. Lopez presented to fellow GGI Members where he provided an update on 2020 Regulatory Developments

Read More »

GGI International Tax Practice Group Presentation2021-01-07T17:38:24-05:00

COVID-19 Update: Operational, Regulatory and Accounting Challenges for Fund Managers

Don’t miss Karen H. Kerby as she joins the NYSSCPA’s Alternative Investment Fund Conference for a live webcast on November 19th. Karen will moderate a panel of industry experts and discuss financial reporting matters in the midst and afterm

Read More »

COVID-19 Update: Operational, Regulatory and Accounting Challenges for Fund Managers2022-03-03T10:38:53-05:00
organization restructuring

Restructuring, Redirecting, Restoring: Helping Your Business Survive COVID-19

One of the most obvious consequences of the COVID-19 pandemic has been the large reduction in revenue for businesses.  Restructuring and reducing staff may have been necessary steps to surviving and keeping the doors open.   

Read More »

Restructuring, Redirecting, Restoring: Helping Your Business Survive COVID-192023-07-03T10:11:20-04:00

Webinar: 2020 Tax Planning for Small Businesses and Individuals, presented by Prager Metis

Marnette Myers from our Washington D.C. Metro office will be joining the Greater McLean Chamber of Commerce for a timely review of tax planning issues and opportunities for 2020. Marnette will address potential federal changes,

Read More »

Webinar: 2020 Tax Planning for Small Businesses and Individuals, presented by Prager Metis2021-08-20T11:05:05-04:00

Owe Back Taxes? Recent IRS Announcements May Make It Easier For You to Catch Up

“We want to earn the trust and respect of every American.” It may surprise some to know that those words came from Congressional testimony given in the past month by IRS Commissioner Charles P. Rettig. But Rettig, himself a seasoned tax

Read More »

Owe Back Taxes? Recent IRS Announcements May Make It Easier For You to Catch Up2021-08-20T11:00:53-04:00

IRS Provides Reporting and Penalty Relief for US Individuals with Tax- Favoured Foreign Trusts

Amidst the worldwide COVID-19 crisis, many US citizens who have worked abroad and paid into pension trusts may have missed a significant change made by the US Internal Revenue Service (IRS) on 02 March 2020.

Read More »

IRS Provides Reporting and Penalty Relief for US Individuals with Tax- Favoured Foreign Trusts2021-08-20T10:56:30-04:00

Edward P. Rigby joins the Estate Planning Council of Central New Jersey for a Webinar

Register Today! Edward P. Rigby joins the Estate Planning Council of Central New Jersey for a webinar on Thursday, October 22, at 6 pm EST. Edward will discuss the key issues in determining loan forgiveness.

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Edward P. Rigby joins the Estate Planning Council of Central New Jersey for a Webinar2021-08-20T10:56:00-04:00
rubberband effect, rubber band theory

The Rubber Band Theory and the Pandemic: Will Business Snap Back to Pre-COVID Norms?

The rubber band theory has been applied to many areas of business and life, from investing and leadership to personality traits and dating. I’ve been thinking about the rubber band theory as it relates to the changes we’ve experienced

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The Rubber Band Theory and the Pandemic: Will Business Snap Back to Pre-COVID Norms?2022-09-22T18:21:32-04:00
Health care
Sep 28, 2020
|Prager Metis
|

Faced with Unprecedented Scrutiny, Skilled Nursing Facilities Need to Get Their Financial Houses in Order

Health care
| Sep 28, 2020

Every drama needs a bad guy, a villain. And few events in recent history have produced more drama than the COVID-19 crisis, certainly from a human standpoint given the death toll, not to mention what many have called the “politicizing”

Read More »

Faced with Unprecedented Scrutiny, Skilled Nursing Facilities Need to Get Their Financial Houses in Order2021-08-20T10:53:22-04:00
Webinars
Sep 25, 2020
| Stuart H. Mayer, CPA
|

Fashion’s Rebound, the Importance of Having the Right Accounting Relationship

Webinars | Sep 25, 2020

Join FBAA and Stuart H. Mayer, Managing Partner – New York, NY Office of Prager Metis, for a webinar discussion on Wednesday, September 30th at 11 am ET. He will discuss Fashion's Rebound, the Importance of Having the Right Accounting

Read More »

Fashion’s Rebound, the Importance of Having the Right Accounting Relationship2022-03-03T10:53:37-05:00
Covid-19
Sep 21, 2020
| Karen H. Kerby, CPA
|

Volatility Caused by COVID-19 Prompts OCIE to Issue a ‘Risk Alert’ Targeting Advisers and Broker Dealers

Covid-19 | Sep 21, 2020

Since COVID-19 arrived, the SEC Office of Compliance, Inspections and Examinations (OCIE) has remained operational nationwide including an outreach to SEC registrants to assess the impact of the virus. From these efforts, OCIE has concluded

Read More »

Volatility Caused by COVID-19 Prompts OCIE to Issue a ‘Risk Alert’ Targeting Advisers and Broker Dealers2022-03-03T10:37:29-05:00
Tax
Sep 14, 2020
| Edward P. Rigby, CPA, MST
|

Are In-House Research Expenses Paid from Paycheck Protection Program (PPP) Loan Proceeds (That Qualify For Loan Forgiveness) Eligible for the IRC Section 41 Research Tax Credit

Tax | Sep 14, 2020

Are In-House Research Expenses Paid from Paycheck Protection Program (PPP) Loan Proceeds (That Qualify For Loan Forgiveness) Eligible for the IRC Section 41 Research Tax Credit

Read More »

Are In-House Research Expenses Paid from Paycheck Protection Program (PPP) Loan Proceeds (That Qualify For Loan Forgiveness) Eligible for the IRC Section 41 Research Tax Credit2020-10-21T14:12:42-04:00

Respect, Safeguard, and Value Your Time, Your Most Precious Commodity

During an interview with Bill Gates and Warren Buffett a few years ago, Gates was asked what he has learned from his fellow billionaire. Gates discussed the time Buffett showed him his paper appointment book, which was mostly empty.

Read More »

Respect, Safeguard, and Value Your Time, Your Most Precious Commodity2020-10-21T14:11:27-04:00
CAS
Aug 23, 2020
| Hayley Mayer, EA
|

How Client Accounting Services (CAS) Take Financial Functions Off Your Plate

CAS | Aug 23, 2020

When everyone began working from home because of the COVID-19 pandemic, many businesses saw firsthand how difficult it is to function effectively each day without access to reliable accounting and financial services and expertise.

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How Client Accounting Services (CAS) Take Financial Functions Off Your Plate2021-08-20T11:08:10-04:00

International Tax Planning for Accessing Cash and Reducing US Tax in 2020

Accessing Cash from CFC or non-CFC Foreign Subsidiary. If you have liquidity needs and own one or more foreign subsidiaries, it may be possible to access cash held by the CFC in a tax-efficient manner.

Read More »

International Tax Planning for Accessing Cash and Reducing US Tax in 20202021-08-20T14:45:47-04:00

Key Considerations as Nonprofits Shift to Online Fundraising

The coronavirus pandemic has created a massive shift in the daily operations of all nonprofit organizations globally. If your mission is not directly related to the pandemic relief it may be challenging to convince your donors that your

Read More »

Key Considerations as Nonprofits Shift to Online Fundraising2021-08-20T11:05:17-04:00

Estate Planning Council of New York City, Inc.

Does your estate have significant art holdings? Join Gabe M. Wolosky and the Estate Council of New York as they address the IRS requirements for estates with significant art holdings, and tax deduction for the charitable donation of artwork

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Estate Planning Council of New York City, Inc.2022-03-03T10:57:34-05:00
occupational fraud definition, occupational fraud

The Anatomy of Fraud – Insights from the 2020 ACFE Global Study on Occupational Fraud

The Association of Certified Fraud Examiners (ACFE) recently released the Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse. This report, the 11th since the first edition was published in 1996, has become the primary

Read More »

The Anatomy of Fraud – Insights from the 2020 ACFE Global Study on Occupational Fraud2022-05-11T16:59:33-04:00
Webinars
Jun 20, 2020
|Prager Metis
|

Exploring Growth Through Acquisitions

Webinars
| Jun 20, 2020

Prager Metis’ CEO Glenn Friedman joins an expert panel for this webinar hosted by The NYBB Group on Tuesday, June 24th at 12 PM ET. Industry experts will discuss the benefits of acquisitions, including increased revenues and bottom-line

Read More »

Exploring Growth Through Acquisitions2020-11-09T14:19:33-05:00

As the Pandemic Moves Us “Back to the Farm”, What’s Old Is New Again

"One of the technologies Vice President Al Gore is pushing is the information superhighway, which will link everyone at home or office to everything else – movies and television shows, shopping services,

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As the Pandemic Moves Us “Back to the Farm”, What’s Old Is New Again2020-06-22T13:37:15-04:00
Advisory
May 27, 2020
|By Nicole Bononi-Wilson, Esq., MAFM
|

Did a Deceased Loved One Receive a Stimulus Payment? The IRS Wants it Back. Now.

Advisory
|By Nicole Bononi-Wilson, Esq., MAFM
| May 27, 2020

A friend who received his stimulus payment as an actual check in the mail, knew I was working on this article and suggested I take a look at what the IRS sent him. Examining the official looking envelope.

Read More »

Did a Deceased Loved One Receive a Stimulus Payment? The IRS Wants it Back. Now.2020-07-20T15:58:43-04:00
Presentations
Apr 14, 2020
|

 Please join us on Monday, April 20, 2020 at 2pm ET/11am PT. Peter Goodrich of Prager Metis CPAs and Seth H. Ostrow of Meister Seelig & Fein LLP will discuss how cryptocurrency has moved from the fringes to the mainstream

|

Cryptocurrency From the Fringes to the Mainstream

Presentations
|

 Please join us on Monday, April 20, 2020 at 2pm ET/11am PT. Peter Goodrich of Prager Metis CPAs and Seth H. Ostrow of Meister Seelig & Fein LLP will discuss how cryptocurrency has moved from the fringes to the mainstream

| Apr 14, 2020

 Please join us on Monday, April 20, 2020 at 2pm ET/11am PT. Peter Goodrich of Prager Metis CPAs and Seth H. Ostrow of Meister Seelig & Fein LLP will discuss how cryptocurrency has moved from the fringes to the mainstream

Read More »

Cryptocurrency From the Fringes to the Mainstream2020-06-15T03:44:04-04:00

Finding the Silver Lining During and After Times of Crisis

There is no sugarcoating the fact that the coronavirus pandemic is affecting everyone in our country. Businesses that require face-to-face interaction with customers, from restaurants to dentists to theatre companies, are being shut down.

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Finding the Silver Lining During and After Times of Crisis2020-07-20T15:57:33-04:00

Why Human Capital Is Your Organization’s Best Investment

Over the past several years, the concept of digital transformation has become a top business priority. As adoption of artificial intelligence (AI), cloud-based systems, the Internet of Things, and other advanced technologies continues to expand, organizations are weaving these tools into every business process and, in many cases, changing how they operate to optimize productivity, efficiency, and the customer experience. More and more organizations are investing heavily in technology-driven initiatives, as they should.

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Why Human Capital Is Your Organization’s Best Investment2021-08-20T11:17:25-04:00

Corporate Philanthropy: Why Doing Good is Good for Everyone

One of the core responsibilities of any business leader is to motivate the team. They must keep team members engaged and give them reasons to feel good about their employer. Today, it’s no secret that more team members, especially from younger generations, want to work for a company that is dedicated to more than just themselves.

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Corporate Philanthropy: Why Doing Good is Good for Everyone2021-08-20T11:12:15-04:00
Tax
Jan 13, 2020
| Jonathan Gold
|

Planning for the Negative Tax Impact of the SECURE Act on your IRA and 401(k) Beneficiaries

Tax | Jan 13, 2020

In this era of Congressional contentiousness, any legislation that comes out of those chambers with bipartisan support deserves note. Such is the case with the SECURE Act, an acronym for “Setting Every Community Up for Retirement Enhancement,” which was passed last July by a near-unanimous vote in the House of Representatives. But the SECURE Act also warrants a note of caution for those heavily invested in IRAs and/or 401(k) plans because it truly is a “game-changer,” and not for the better, when it comes to the distribution and taxation of withdrawals from inherited plans.

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Planning for the Negative Tax Impact of the SECURE Act on your IRA and 401(k) Beneficiaries2021-08-20T11:15:29-04:00
Uncategorized
Jan 07, 2020
| Gurjit Singh
|

Technology and Taxes: The Accountant’s Responsibility

Uncategorized | Jan 07, 2020

In the world we live in today, the only way to avoid becoming a victim of malware and/ or identity theft is to disconnect yourself and your workstation from the internet. Unfortunately in today’s business environment, that is not an option. Read the latest article by CIO, Gurjit Singh, entitled ‘Technology and Taxes: The Accountant’s Responsibility,’ to learn more about how you can take steps to secure both your own and client’s information and take a more vigilant approach in the exponentially evolving world of technology and information-transfer.

Read More »

Technology and Taxes: The Accountant’s Responsibility2021-08-20T11:11:59-04:00
Tax
Dec 16, 2019
| R. Matthew Frank, CPA
|

Putting AI to Work for Your Nonprofit: It’s Not a Question of ‘If’ but ‘When’

Tax | Dec 16, 2019

When asked recently if he knew how algorithms worked, a friend replied, “I don’t need to know how something works. I just need to know it works.” Of course, algorithms “work” for us every single day.

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Putting AI to Work for Your Nonprofit: It’s Not a Question of ‘If’ but ‘When’2020-06-22T13:42:19-04:00
What UK Residents Need to Know When Selling US Property

The Indian Tax Rate Cuts

India has recently cut its corporate tax rates in a bid to revive its stagnant economy. The move has widely been seen as a positive and much needed one and sees the rates cut as follows: Companies that don’t seek exemptions will see their tax rate cut from 30% to 22% before surcharge and cess.

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The Indian Tax Rate Cuts2023-04-11T18:59:15-04:00
Finance
Oct 15, 2019
| Corey H. Neubauer, CPA
|

Beware of the “Clawback” Claim, but Also be Aware that it is as Much an Accounting Issue as a Legal One

Finance | Oct 15, 2019

There will be a time when your client's customers will go through a rough patch and have the need to file for bankruptcy protection. Before filing, one of these customers may, out of loyalty or with an eye to the future, pay this client. But if your client receives this sum less than 90 days prior to the debtor's bankruptcy filing, this payment could be deemed a "preferential payment," meaning your client may be required to return this sum for inclusion in a bankruptcy estate for equitable distribution among the debtor's creditors.

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Beware of the “Clawback” Claim, but Also be Aware that it is as Much an Accounting Issue as a Legal One2020-03-06T09:58:48-05:00

US State-to-State Business Travel Compliance and Risks

While organisations often overlook tax-compliance requirements related to business travel, the days of simply traveling to and working in a different state or country for business without a thought to tax liabilities are coming to an end. Looking for additional tax revenue, US state taxing authorities are becoming stricter and more vigilant in monitoring business travel. Extensive time spent on business travel in a country outside the US, or even a different state within the US, could create a PE exposure for the employing entity.

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US State-to-State Business Travel Compliance and Risks2021-08-20T11:10:57-04:00

While Relinquishing One’s US Citizenship Can Mitigate Estate and Gift Tax Obligations

Relinquishing one's US citizenship can mitigate an individual's estate and gift tax obligations, but a "Covered Expatriate"* should plan carefully when disposing of assets. Internal Revenue Code Section 2801 imposes a tax on US citizens or residents who receive certain gifts or bequests from Covered Expatriates (CEs). Even if the property is non-US-situs property, all of it is subject to the 2801 taxing regime.

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While Relinquishing One’s US Citizenship Can Mitigate Estate and Gift Tax Obligations2021-08-20T11:15:38-04:00

US Anti-Corruption Laws and Their InternationaI Reach

International Services
| Oct 15, 2019

As long as greed exists, so does corruption. To combat corruption, the US enacted the Foreign Corrupt Practices Act (FCPA). Its provisions prohibit offering, authorizing, or making payments of money or anything of value to influence the decision making of foreign government officials to obtain or retain business.

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US Anti-Corruption Laws and Their InternationaI Reach2020-01-03T13:20:09-05:00

How the Change in US Sales Tax Rules has Impacted International Sellers

On 21 June 2018, the US Supreme Court passed a landmark decision that transformed the landscape of sales tax in the US. The South Dakota vs Wayfair decision effectively permitted states to create new rules for sales ­tax collection requirements based on the dollar or transactions amount of sales - otherwise known as economic nexus. Previously, companies were only required to collect sales tax based on a physical presence test.

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How the Change in US Sales Tax Rules has Impacted International Sellers2019-10-15T14:41:12-04:00

M&A: How Marketing Can Gain a Strategic Role in the Process

The business world is rapidly evolving. Industries across the globe are experiencing increased competition, aging workforces, and regulatory shifts that are leading to consolidation. Many of these consolidations occur through mergers and acquisitions.

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M&A: How Marketing Can Gain a Strategic Role in the Process2020-04-12T09:44:36-04:00
Not-for-Profit
Sep 16, 2019
|Prager Metis
|

Operating in a Complex World: The Argument for Not-for-Profits to Change Everything

Not-for-Profit
| Sep 16, 2019

Originally published by Long Island Business News Profit. When we hear the word profit, we think of Wall Street, shareholders, stocks, global conglomerates, and billionaire CEOs; we don’t conjure up the image of a not-for-profit organization helping provide services to the community.

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Operating in a Complex World: The Argument for Not-for-Profits to Change Everything2020-06-01T10:30:30-04:00
Tax
Aug 19, 2019
| Karen H. Kerby, CPA
|

New Opportunity Zone Regulations: What They Are and What They Clarify

Tax | Aug 19, 2019

In December of 2017, the Tax Cuts and Jobs Act outlined a new program called “Opportunity Zones” (OZs) that offered tax breaks for investing in underdeveloped/distressed communities via Qualified Opportunity Funds (QOFs). In October 2018, substantially more detail on the OZs was provided, and in April 2019, the IRS and Treasury Department issued a 169-page document that detailed regulations governing OZs. According to the IRS, a QOF is set up either as a partnership or corporation (LLCs qualify also) for investing in an eligible property located in one of the OZs.

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New Opportunity Zone Regulations: What They Are and What They Clarify2019-10-31T10:36:07-04:00
What UK Residents Need to Know When Selling US Property

Selling Across the Pond: What UK Residents Need to Know When Selling US Property

For UK citizens selling a property in the USA, completing the sale is only your first hurdle. Your next challenge is tax - both in the UK and the USA - neither set of rules being straightforward. Taking UK tax first, if you are resident and domiciled in the UK, you will have capital gains tax (CGT) to pay on any gain achieved on the sale of US property.

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Selling Across the Pond: What UK Residents Need to Know When Selling US Property2023-05-08T11:23:19-04:00
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Valuation Theory & Your Life: Why What Happened to The King of Pop’s Estate Should Matter to You

In the last few years, some of entertainment’s most iconic performers have left us. Both Prince and David Bowie passed in 2016, and just this year we lost Aretha Franklin. It seems a lot more recent, but it has been almost ten years since Michael Jackson passed away at age 50.

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Valuation Theory & Your Life: Why What Happened to The King of Pop’s Estate Should Matter to You2022-03-03T13:01:52-05:00

US Tax Compliance for Foreign Trusts: A Primer

A threshold question in determining how a trust will be taxed in the US is whether the trust is foreign or domestic. The default rule is that a trust is foreign, unless the trust fails both the “Court Test” and the “Control Test.” The Court Test is met if a US court is able to exercise primary supervision over the administration of the trust. The “Control Test” is satisfied if one or more US persons have the authority to control all substantial decisions of the trust.

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US Tax Compliance for Foreign Trusts: A Primer2019-10-31T10:34:14-04:00

Tax Planning Under the New US Tax Reform

The US Tax Cuts and Jobs Act, passed on 17 December 2017, has dramatically changed the analysis and available strategies for structuring cross-border operations. Meaning, to realise tax optimisation, business owners must be aware of those changes. For example, in addition to a decreased corporate rate from 35% to 21%, and the full expensing of plant and equipment acquisitions, there is a now a reduced effective rate of 13.125% for domestic companies’ income from selling products or services to foreign customers directly or through related parties.

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Tax Planning Under the New US Tax Reform2019-10-31T10:34:20-04:00
Featured UK
Mar 06, 2019
|Dandan Li, Assistant Tax Manager
|

Preparing for Changes at the UK Border After a No Deal EU Exit

Featured UK
|Dandan Li, Assistant Tax Manager
| Mar 06, 2019

Summarised below is our understanding of the changes and necessary steps which may be required to be undertaken for UK businesses trading within the EU in the event of a No Deal EU Exit. We have principally focused on the impact on Customs and Excise and VAT. Most of the contents are taken from the published documents by UK government and HMRC.

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Preparing for Changes at the UK Border After a No Deal EU Exit2023-05-08T11:22:22-04:00