February 29, 2016
Connecticut Tax Partner-in-Charge Brett McGrath and Tax Principal Michael D'Addio discussed Marcum's talent bench during busy season with the Hartford Business Journal.
By John Stearns
Tax season is always hectic for accounting firms — which for years have called in temporary reinforcements, from college interns to experienced freelance tax professionals to help manage the load — but the window for the work is getting more compressed, according to one tax veteran.
"The [tax season] has gone from like a three-month period to almost less than a two-month period," said Brett McGrath, a partner in the Hartford office of Marcum LLP and partner-in-charge of the firm's Connecticut tax department. "We still have to get the same amount of work out, but we've got five to six weeks potentially of less time to do it."
Congress in December also passed a tax extender bill. Provisions of note that were extended, said Michael D'Addio, principal of tax and business services in Marcum's New Haven office, include bonus depreciation remaining at 50 percent for 2015, which was retroactive, and staying at 50 percent for two more years before lowering to 40 percent and 30 percent the two years after that.