Insights

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.

Read More »

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.

Read More »

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?

Read More »

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

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.

Read More »

Why Business Communication and Responsiveness Need Clarity and Consistency2022-06-01T14:42:53-04:00

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

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.

Read More »

IRS Tax Controversy Case Management Rules & Tools: Winning Strategies For Playing Chess With The IRS2022-05-02T09:13:53-04:00
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.

Read More »

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.

Read More »

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.

Read More »

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”

Read More »

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.

Read More »

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?

Read More »

Metaverse & Taxation2022-04-04T01:07:44-04:00
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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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?

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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?

Read More »

“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.

Read More »

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. 

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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:

Read More »

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.

Read More »

Not-for-Profit Focus2022-02-09T12:32:24-05:00
Webinars
Sep 21, 2021
| Louis Mezzina, CPA
|

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.

Read More »

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". 

Read More »

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!

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

New York State Covid Tax Credits2021-08-20T11:16:12-04:00

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.

Read More »

Case Study: Understanding Cash vs. Accrual Can Create Opportunities for Tax Savings and Process Efficiency2021-08-20T11:24:46-04:00
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. 

Read More »

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.

Read More »

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.

Read More »

INTERNATIONAL TAX – Cross Border Tax Planning for Ownership and Exploitation of Music Copyrights2021-08-23T15:05:42-04:00
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:

Read More »

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

Read More »

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....

Read More »

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,

Read More »

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.

Read More »

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.

Read More »

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

Read More »

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,

Read More »

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

Read More »

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 Tax2021-04-05T13:13:07-04:00
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 Matters2021-04-05T13:14:51-04:00
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 20212021-04-05T13:16:41-04:00
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 »

Business2022-04-03T17:15:52-04:00
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
Tax Plan, PPP loans, PANDEMIC

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

Read More »

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
Tax Plan, PPP loans, PANDEMIC
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 Regulations2022-07-18T07:16:22-04:00

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

Read More »

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

Read More »

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

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-192021-08-20T11:14:00-04:00

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.

Read More »

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

Read More »

The Rubber Band Theory and the Pandemic: Will Business Snap Back to Pre-COVID Norms?2022-07-18T07:13:59-04:00
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.

Read More »

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

Read More »

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,

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

The Indian Tax Rate Cuts2020-03-06T10:00:09-05:00
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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

M&A: How Marketing Can Gain a Strategic Role in the Process2020-04-12T09:44:36-04:00

Accounting Professionals Need to Understand Cryptocurrency and Blockchain

Over the past few years, cryptocurrency and its underlying technology, blockchain, have started to evolve from being misunderstood concepts into a mainstream means to conduct digital transactions. Cryptocurrency is a digital form of currency used as a medium of exchange for conducting internet-based sales and financial transactions. Unlike paper bills or coins, cryptocurrency lacks physical properties and is stored in virtual wallets rather than bank accounts.

Read More »

Accounting Professionals Need to Understand Cryptocurrency and Blockchain2020-01-14T13:30:28-05:00
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.

Read More »

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.

Read More »

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.

Read More »

Selling Across the Pond: What UK Residents Need to Know When Selling US Property2022-04-21T01:45:32-04:00
Tax Plan, PPP loans, PANDEMIC

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.

Read More »

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.

Read More »

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.

Read More »

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.

Read More »

Preparing for Changes at the UK Border After a No Deal EU Exit2020-01-03T12:23:56-05:00
Tax
Feb 11, 2019
|Prager Metis
|

The Taxation of Income from Cryptocurrencies in Various Jurisdictions — USA

Tax
| Feb 11, 2019

Recently, we have seen a growth in the sale or exchange of cryptocurrency, or the use of cryptocurrency to pay for goods or services. Unfortunately, guidance from the Internal Revenue Service (IRS) pertaining to related US income tax issues has not kept pace with the proliferation of cryptocurrency trading. This article highlights fundamental income US tax compliance issues for investors dealing or transacting in cryptocurrency.

Read More »

The Taxation of Income from Cryptocurrencies in Various Jurisdictions — USA2019-09-24T14:41:30-04:00
Tax Plan, PPP loans, PANDEMIC
Tax
Feb 04, 2019
| Joseph Cain, CPA
|

IRS Clarifies 199A Section of Tax Law, Provides Safe Harbor and a 20% Deduction To Rental Real Estate Enterprises

Tax | Feb 04, 2019

If you own rental real estate, the fact that the IRS just issued Notice 2019-7, which clarifies Section 199A of the Tax Cuts and Jobs Act of 2017 could work to your benefit. The clarification will help in determining whether a rental real estate enterprise is a trade or business for the purposes of section 199A.

Read More »

IRS Clarifies 199A Section of Tax Law, Provides Safe Harbor and a 20% Deduction To Rental Real Estate Enterprises2022-03-03T10:39:21-05:00

E. Martin Davidoff, National Managing Partner of the Tax Controversy Practice Quoted in Accounting Today

E. Martin Davidoff, National Managing Partner of the Tax Controversy Practice at Prager Metis, was quoted in a recent Accounting Today article titled: “Like ‘1986 on steroids.’” Click here to read the full.

Read More »

E. Martin Davidoff, National Managing Partner of the Tax Controversy Practice Quoted in Accounting Today2019-10-22T14:32:10-04:00
Tax
Dec 13, 2018
|Prager Metis
|

Key Tax Cuts and Acts Affecting Asset Managers

Tax
| Dec 13, 2018

With the K-1 season right around the corner, now is the perfect time to highlight a few key concepts that will directly affect fund managers from the Tax Cuts and Jobs Act (“TCJA") that was enacted on December 22, 2017. Limits on Deductibility of Business Losses TCJA imposes a new limit on the deductibility of business losses incurred by taxpayers other than corporations.

Read More »

Key Tax Cuts and Acts Affecting Asset Managers2020-01-03T11:27:05-05:00
Tax Plan, PPP loans, PANDEMIC
Tax
Dec 06, 2018
| Joseph Cain, CPA
|

Opportunity Zones: A Win/Win for Communities And Your Capital Gains Tax Bill

Tax | Dec 06, 2018

The new tax law passed last December certainly has its boosters and its detractors, but it also has written into it something that appears to be a proverbial win/win. While this new provision does offer tax breaks to those among us who receive capital gains, to get those breaks the advantaged must invest those profits in funds that benefit the disadvantaged. The shorthand for all of this comes down two words: Opportunity Zones.

Read More »

Opportunity Zones: A Win/Win for Communities And Your Capital Gains Tax Bill2022-02-27T15:21:34-05:00
Tax
Nov 26, 2018
|Prager Metis
|

Section 199A Deduction

Tax
| Nov 26, 2018

The Tax Cuts and Jobs Act enacted on December 22, 2017, introduced Internal Revenue Code Section 199A. This new code section grants a deduction of up to 20% of qualified business income (“QBI”). It replaces Section 199 which was the Domestic Production Activities Deduction, beginning in 2018.

Read More »

Section 199A Deduction2019-03-29T17:00:21-04:00

Inherited Individual Retirement Accounts: What Every Heir to an IRA Needs to Know

Article by: Ladidas Lumpkins and Roman Katz Ben Franklin once said that nothing is certain except death and taxes. The traditional Individual Retirement Account, also known as the IRA, was invented in 1974 and brings to bear both of those certainties.

Read More »

Inherited Individual Retirement Accounts: What Every Heir to an IRA Needs to Know2020-01-03T11:14:48-05:00

Il Fisco Americano terminera’ il programma di Voluntary Disclosure

Partner Andrea Fantozzi, a Director at the Italian Group in the International Department of Prager Metis CPAs, was published in America 24. Click here to read the full article titled: Il Fisco Americano terminera’ il programma di Voluntary Disclosure.

Read More »

Il Fisco Americano terminera’ il programma di Voluntary Disclosure2019-03-29T17:04:47-04:00
Advisory
Aug 30, 2018
|Prager Metis
|

Craig Manzino Interview in Entrepreneur

Advisory
| Aug 30, 2018

Craig A. Manzino, a Partner-in-Charge of the Business Management Group of Prager Metis CPAs, was interviewed in the Entrepreneur, in an article titled: Cynthia Nixon Has a Corporation, and That's Totally Normal for Professionals Like Her. Click here to read the full article.

Read More »

Craig Manzino Interview in Entrepreneur2019-03-29T17:10:44-04:00

Fernando R. Lopez and Raymond J. Zomerfeld Published in Worth Magazine

Read the latest article by Partners Fernando R. Lopez and Raymond J. Zomerfeld, published in Worth Magazine.

Read More »

Fernando R. Lopez and Raymond J. Zomerfeld Published in Worth Magazine2019-03-30T10:07:45-04:00
Tax
Jul 11, 2018
| Stuart H. Mayer, CPA
|

South Dakota v. Wayfair: Some Tips on Making the Daunting Doable

Tax | Jul 11, 2018

On June 21 of this year, the Supreme Court’s ruling in South Dakota v. Wayfair basically upended the way state sales tax has been collected and remitted for the past 26 years. Much has been written about this ruling, and as might be expected, you, our clients, have a lot of questions about how to navigate this new sales tax labyrinth.

Read More »

South Dakota v. Wayfair: Some Tips on Making the Daunting Doable2020-01-03T12:43:40-05:00

Not Just Europe: New EU Data Protection Regulations Can Affect U.S. Businesses

International Services
| Jun 05, 2018

While the European Union (EU) just began active enforcement of a sweeping new data privacy regime, that news generated far less visibility in the United States, largely because many people assume that their business or personal interests are not affected by the change. But reliance on that assumption could result in expensive consequences. The General Data Protection Regulation (GDPR) was approved by the EU Parliament in April after four years of substantive debate and refinements.

Read More »

Not Just Europe: New EU Data Protection Regulations Can Affect U.S. Businesses2020-01-03T11:56:17-05:00
Tax Plan, PPP loans, PANDEMIC
Advisory
May 09, 2018
| Stuart H. Mayer, CPA
|

Blockchain in the Fashion Industry

Advisory | May 09, 2018

Blockchain in the Fashion Industry More often than not, the term that we associate with the word “blockchain” is “Bitcoin.” And while it’s true that blockchain technology was initially created to account for cryptocurrency transactions, it can be applied in so many other settings. A blockchain is a digital ledger that records transactions in ordered records called “blocks.” Each new piece of information is added to the record chain chronologically so that the blockchain reports the entire history from start to finish.

Read More »

Blockchain in the Fashion Industry2022-02-14T05:19:28-05:00

Andrea Fantozzi to Present at the Confindustria: UNITED STATES – The Benefits of Tax Reform in the US and the New Policies of American Immigration

Andrea Fantozzi, a Partner and Director at the Italian Desk in the International Department of Prager Metis CPAs, a member of Prager Metis International Group will be speaking at the 1Confindustria. He will introduce to business owners/ CFO and Controllers the opportunities that are available for foreign entities to invest in the US, especially based on the latest tax reform. Dates:

Read More »

Andrea Fantozzi to Present at the Confindustria: UNITED STATES – The Benefits of Tax Reform in the US and the New Policies of American Immigration2020-01-02T13:37:40-05:00

Andrea Fantozzi featured in America 24, March2018

Andrea Fantozzi, a Partner and Director at the Italian Desk in the International Department of Prager Metis CPAs, a member of Prager Metis International Group, was featured in Americay 24, in an article titled "La property tax americana: cosa c'è da sapere," — March 4th, 2018.

Read More »

Andrea Fantozzi featured in America 24, March20182019-03-29T17:36:55-04:00

The Tax Cuts and Jobs Act of 2017 and Its Impact on the Entertainment Industry

The Tax Cuts and Jobs Act of 2017 (“TCJA”) was signed into law by President Trump on December 22, 2017. It has been hailed as the largest overhaul of the US federal income tax since 1986. While many diverse industries will realize significant changes, tax-wise, as a result of the passage of the TCJA, there are provisions that have a significant impact upon the media and entertainment industries.

Read More »

The Tax Cuts and Jobs Act of 2017 and Its Impact on the Entertainment Industry2020-01-03T13:05:58-05:00
Entertainment and Music
Jan 19, 2018
|Roman Katz
|

Being a Trusted Advisor to Authors

Entertainment and Music
|Roman Katz
| Jan 19, 2018

With the business landscape changing, and traditional job roles no longer fitting into narrowly defined boxes, this is an important time to highlight what accountants do and what the role of being a trusted advisor means. While this article covers various accounting issues that impact authors, much of this content applies to those who work as independent contractors. The expense of hiring a professional accountant is a real obstacle for many.

Read More »

Being a Trusted Advisor to Authors2020-01-02T13:44:44-05:00
Tax
Jan 08, 2018
|Sattie D. Ramsaywack
|

Family Office Services for High Net Worth Clients

Tax
|Sattie D. Ramsaywack
| Jan 08, 2018

It’s no surprise that booming domestic and global equity markets, strong corporate profits and the prospect of a major reduction in U. S. business and personal tax rates are all contributing to a rise in personal wealth. In fact, the global total of high net worth individuals (defined as those with investable assets of $1 million or more) grew 7.5 percent last year, and New York City remained the top location for those achieving ultra-high net worth status (defined as those with investable assets of $30 million or more).

Read More »

Family Office Services for High Net Worth Clients2020-01-03T10:43:00-05:00

US International Tax Reform: Overview of New US Tax Landscape and Planning Opportunities for US and Foreign Companies

Congress bestowed a tremendous holiday gift to the global corporate community in the form of a significantly reduced U. S. corporate tax rate and full expensing of plant and equipment acquisitions that effectively lays out the red carpet to foreign companies. In addition, the tax bill’s shift to a territorial tax regime results in a virtual ban on IRS corporate taxing authority beyond the U.

Read More »

US International Tax Reform: Overview of New US Tax Landscape and Planning Opportunities for US and Foreign Companies2019-03-29T17:44:25-04:00
Tax
Dec 19, 2017
|Prager Metis
|

Year-End Overview of How Tax Reform Affects Business Taxes

Tax
| Dec 19, 2017

Overview of Key Changes to Business Taxation Under the Tax Cuts and Jobs Act Two of the most visible features of the Tax Cuts and Jobs Act, now passed by Congress and expected to be quickly signed into law by President Donald Trump, are the large reduction in the statutory corporate rate (from 35 to 21 percent), and the elimination of the corporate Alternative Minimum Tax. Both of those changes become effective on January 1, 2018.

Read More »

Year-End Overview of How Tax Reform Affects Business Taxes2022-02-14T05:20:04-05:00
Wealth Management
Nov 03, 2017
|Marc Specht
|

Planning for Tomorrow: Importance of Proper Estate Preparation

Wealth Management
|Marc Specht
| Nov 03, 2017

One of our accounting partners has a client whose father (in his late 80s) owned Manhattan real estate with an approximate value of $18M. Nearly all of his net worth was tied up in this property, which therefore presented the issue of how to cover the estate tax due upon death without having to liquidate the property. We discussed options of how to reduce the father’s taxable estate, by gifting and transferring assets while living, but he had already taken advantage of his lifetime exclusion in a previous property gift to his children.

Read More »

Planning for Tomorrow: Importance of Proper Estate Preparation2020-01-03T12:15:49-05:00
What UK Residents Need to Know When Selling US Property

Indian Bank Interest, When is this Truly Tax Free?

A friend of mine who is of Indian origin, was recently discussing with me how he had found a way to earn an eye-watering 9% interest on cash deposits. He explained that deposits held in an Indian bank account typically earn interest of 7-9% and that he is earning a small fortune on his deposits. Not meaning to bring my friend down to earth, I felt it necessary to make him aware of a few issues.

Read More »

Indian Bank Interest, When is this Truly Tax Free?2020-01-03T11:13:32-05:00

Issues and Opportunities in Estate Planning Under the New Congressional Leadership

The political ground appears to be shifting on the taxation of assets that are transferred among family members as part of their estate planning. While many details have yet to emerge, there are indications that in 2017 there could be some tax law changes that would help families and their businesses preserve more assets and reduce tax liabilities. We reviewed those issues on May 15 at a Business Valuation Conference sponsored by the New York State Society of CPAs.

Read More »

Issues and Opportunities in Estate Planning Under the New Congressional Leadership2020-01-03T11:23:59-05:00
Tax
Jun 06, 2017
|Woody Goldstein
|

STAR Program Can Reduce Your NY State Property Taxes

Tax
|Woody Goldstein
| Jun 06, 2017

If you own and live in your primary residence in New York State and you and your spouse have an annual income lower than $500,000, you are eligible for a partial property tax exemption under the New York State School Tax Relief Program. This is known as Basic STAR, and is based on the first $65,500 of the full value of the home. The STAR program gets even better for senior citizens age 65 or older.

Read More »

STAR Program Can Reduce Your NY State Property Taxes2020-01-03T12:47:12-05:00

The Effect of Forensic Accounting and Business Valuations in Everyday Life

One of your friends and/or clients got married twenty-five years ago when they were twenty. Along the way, the couple jointly purchased a beautiful ten room home in which they and their five children lived. The children, who are of various ages, are still in public school and two are in college.

Read More »

The Effect of Forensic Accounting and Business Valuations in Everyday Life2020-01-03T13:00:36-05:00

7 Tips For Artists To Check Their Royalties

Whether you’re an independent artist or signed to a label, you should be receiving some sort of accounting for streams, sales and other kinds of exploitation of your material. Independent artists will get sales reports from their distributor (Tunecore, CD Baby, etc.) while signed artists will receive royalty statements from their record label (for the purpose of this article, all forms of reporting will be referred to as “statements”). But some things fall through the cracks and it never hurts to check.

Read More »

7 Tips For Artists To Check Their Royalties2022-02-07T18:26:40-05:00
Tax
Mar 30, 2017
|Prager Metis
|

Briefing Notes – Charitable Giving the New Rules

Tax
| Mar 30, 2017

There are many wonderful individuals in the UK who give generously to charities. Usually, individuals make a very simple calculation about their income, ‘how much do I need to retain to meet my own needs and how much can I afford to give to charity.’ This simple calculation has just become a lot more difficult for some people especially where a substantial amount of their income derives from dividends. The new tax regime for dividends can have a negative impact on individuals.

Read More »

Briefing Notes – Charitable Giving the New Rules2019-03-29T17:56:08-04:00

Case Study – Anson and US LLCS Sour Grapes and Solutions

International Services
| Feb 20, 2017

The tax treatment of UK tax residents on income from US Limited Liability Companies (LLCs) continues to be a source of concern for many advisers. The short end of the stick is that providing the income always belonged to the LLC members then HMRC will allow a tax credit against UK tax for any US tax suffered. Of course it’s a bit more complicated than that, and set out below is a bit more detail of the UK Supreme Court's reasoning and judgment.

Read More »

Case Study – Anson and US LLCS Sour Grapes and Solutions2020-01-03T09:56:12-05:00
Tax
Dec 02, 2016
| Peter J. Scalise, MST
|

Peter J. Scalise Article Featured in CPA Magazine-Nov 2016

Tax | Dec 02, 2016

Peter J. Scalise, Director of Federal Tax Credits & Incentives Practice Leader was featured in CPA Magazine article entitled, "Lights, Camera, Action and Tax Cut! | A Spotlight on the Expansion of the NYS Film Tax Credit Program". To read the full article please click here.

Read More »

Peter J. Scalise Article Featured in CPA Magazine-Nov 20162019-03-29T17:58:03-04:00

Valuation Discounts and Family-Owned Businesses

After nearly 27 years the IRS has finally gotten around to proposing closure to a number of the §2704 “loopholes” that have benefitted many family-owned businesses. Should the changes be enacted, as proposed, the family-controlled corporation, partnership, LLC and other forms of family-owned businesses will be directly affected. Here’s the reason why.

Read More »

Valuation Discounts and Family-Owned Businesses2020-01-03T13:26:59-05:00
Tax
Oct 13, 2016
| Peter J. Scalise, MST
|

Attention Internal Use Software R&D Tax Creadit ClaimFilers – Final Treasury Regulations Issued

Tax | Oct 13, 2016

On October 3rd of 2016, the Internal Revenue Service (hereinafter “the Service”) issued Final Treasury Regulations setting forth guidance on research and development efforts in connection to Internal Use Software (hereinafter “IUS”) for purposes of claiming the Research & Development Tax Credit (hereinafter “RTC”) under I. R. C. § 41.

Read More »

Attention Internal Use Software R&D Tax Creadit ClaimFilers – Final Treasury Regulations Issued2019-03-29T18:02:27-04:00

Streaming Money: A Back-Of-The-Envelope Analysis

A few weeks ago, I was having dinner with a friend of mine, a very talented musician who opted for a career in tech. When explaining his choice, he told me that “musicians don’t make money like they used to.” What he really meant by that was “nobody buys music anymore, everybody streams music, streaming doesn’t pay enough.” He is right.

Read More »

Streaming Money: A Back-Of-The-Envelope Analysis2020-01-03T12:48:46-05:00
Tax
Sep 28, 2016
| Peter J. Scalise, MST
|

Peter J. Scalise Article Featured in CPA Magazine-Aug/Sept 2016

Tax | Sep 28, 2016

Peter J. Scalise, Director of Federal Tax Credits & Incentives Practice Leader was featured in CPA Magazine article entitled, "The Service Issues New Administrative Authority Governing TPR Compliance". To read the full article please click here.

Read More »

Peter J. Scalise Article Featured in CPA Magazine-Aug/Sept 20162019-03-29T18:05:14-04:00

Performing in the UK: Notes for US Performers

Entertainment and Music
| Sep 06, 2016

There have been some remarkable developments in the UK these last few months, not least of which the United Kingdom has voted to leave the European Union. This will have absolutely no effect on US entertainers performing in the UK or continental Europe. There will still be visa issues, immigration in and out the UK, and British beer will remain warm and heartening.

Read More »

Performing in the UK: Notes for US Performers2020-01-03T12:05:30-05:00

The CEO Forum Highlights Prager Metis

The CEO Forum magazine highlights Prager Metis in an article "How Enterprises Can Become Agile", written by Glenn Friedman with a sidebar including sections on Intellectual Property written by Chris Hull, family office services written by Jay Goldberg, and enterprise business services written by Chris Vignone. Click here to read.

Read More »

The CEO Forum Highlights Prager Metis2020-01-02T13:15:16-05:00
Tax Alert
Dec 17, 2015
| Peter J. Scalise, MST
|

National Tax Alert!

Tax Alert | Dec 17, 2015

On December 15th of 2015, House Speaker Paul Ryan, R-Wis., announced to the Republican lawmakers during a conference meeting that negotiators have reached an agreement in principle on a tax-extenders package worth approximately $800 billion. In addition, an agreement was also reached that would fund the federal government through September 30th of 2016. The bills are expected to arrive on the House floor as early as December 17th with the Senate consideration expected before Congress adjourns for recess.

Read More »

National Tax Alert!2019-01-09T18:35:01-05:00

Portability of the Unused Spousal Exclusion

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 introduced the concept of portability. Portability allows the executor of a deceased spouse’s estate to transfer any unused estate tax exemption to the surviving spouse, as long as the surviving spouse was a US citizen or resident. In simple terms, portability of the federal estate tax exemption between married couples means that if the first spouse dies and the value of the estate does not require the use of all of the deceased spouse’s federal exemption from estate taxes, then the amount of the exemption not used for the deceased spouse’s estate may be added to the surviving spouse’s exemption when the surviving spouse later dies.

Read More »

Portability of the Unused Spousal Exclusion2021-12-13T14:32:41-05:00