Joseph Molloy is a director in the Tax & Business Services division of Marcum LLP, with a specific focus on the construction industry. In this role, he oversees the preparation and review of tax returns and assists with tax planning for contractors.
Mr. Molloy is proficient in all areas of tax, including projections, preparations, reviews and correspondence. He helps clients create and maintain tax deferral strategies, thus enhancing their financial position. He also has extensive experience preparing tax returns for a variety of entities, including C-Corps, S-Corps, partnerships, individuals and trusts.
He regularly advises clients on tax information, regulation updates,and tax reporting best practices. His extensive knowledge of tax incentive program opportunities, such as energy tax credits (179D) and the research & development (R&D) credit, has resulted in substantial increased cash flow for clients.
A prodigious lecturer, Mr. Molloy provides training and mentoring seminars to clients and staff, as well as presents tax updates to sureties, banks, and other financial creditors. He has written tax-related articles on issues affecting construction companies. In addition, he has taught a number of Master's classes at Columbia University.
- American Institute of Certified Public Accountants (AICPA)
- New York State Society of Certified Public Accountants (NYSSCPA)
- Construction Financial Management Association (CFMA), NYC chapter, Associate
- Member Contractors for Kids, Advisory Board
Tax Preparation and Review
Sec. 460, Long Term Contracts
R&D Tax Credits
Bachelor of Science, Accounting
Those who make buildings more energy-efficient might be missing out on an often overlooked provision of the tax code.
The construction industry pays the highest effective tax rate of any sector of the economy. Given that reality, contractors should be proactive in tax planning, ....