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Accounting Today announced the availability of the 2018 Marcum Year-End Tax Guide.

 

Marcum LLP released its 2018 Year-End Tax Guide on Wednesday, providing advice to taxpayers and tax professionals about how to handle the Tax Cuts and ....


Marcum LLP Releases 2018 Year-End Tax Guide: Reference Tool for Tax Planning

 

Marcum LLP today released its 2018 Year-End Tax Guide. This year's guide includes 17 chapters discussing how taxpayers are affected by the Tax Cuts & ....


The Hartford Business Journal published a column by Philadelphia Real Estate Chair Edward Reitmeyer for its latest real estate focus, on how commercial property owners are impacted by the new tax law.

 

The Tax Cuts and Jobs Act is the most sweeping change to the U.S. federal income tax laws in over three decades, and it will ....


The Wall Street Journal quoted Trusts & Estates Tax Partner Janis Cowhey in an article on how to protect your assets after your death.

 

People usually take great pains to protect their assets from would-be thieves during their lifetimes. But they don't always give a lot of thought to ....


The Associated Press interviewed Tax Principal Michael D’Addio for a syndicated story on the new rules for deducting business meals.

 

The IRS is making it simpler for business owners to deduct the cost of meals with customers and clients. The agency last week issued guidance ....


Three Marcum LLP Partners Honored in Inaugural Notable Women in Accounting & Consulting by Crain’s New York Business

 

Three tax partners in the New York City office of Marcum LLP were honored in the inaugural edition of Notable Women in Accounting and Consulting ....


The Authors Guild Bulletin quoted Tax Partner Robert Pesce in its authors’ guide to the revised tax code.

 

The many changes to the federal tax law passed by Congress last fall took effect on January 1, 2018. These changes will apply to your ....


NJBiz quoted State & Local Tax Leader Paul Graney in an article about the higher taxes for New Jersey businesses under the state’s new budget.

 

Business owners across the state breathed a sigh of relief this summer when Gov. Phil Murphy and Senate President Stephen Sweeney reached a budget compromise ....


Tax Director Donald Zidik co-authored an update on individual taxation for The Tax Advisor.

 

This article is a semiannual review of recent developments in the area of individual federal taxation. It analyzes several hobby loss cases, cases on qualifying ....


The Boston Business Journal quoted State & Local Tax Leader Paul Graney for an article about a drop in the number of million-dollar tax filers in Massachusetts.

 

Despite a strong economy, the number of Massachusetts residents with taxable annual income of $1 million or more essentially stayed the same from 2015 to ....


The Mann Report published a column by Marcum Tax Partner Edward Reitmeyer, about the Firm’s upcoming Real Estate Summits.

 

The Tax Cuts and Jobs Act of 2017 places a limit on the amount of interest expense that businesses can deduct on their tax returns. ....


The San Francisco Business Times quoted Jeff Pera, regional managing partner, Northern California, about how the new federal cap on state tax deductions is motivating senior executives to relocate.

 

From CEOs to entrepreneurs to middle-class families, a lot of people have grumbled for years about California’s heavy tax burden and high cost of living. ....


Proposed IRS Regulations will Limit Charitable Contributions and State Tax Credits, for Payments Made After August 27

 

On August 23, the IRS published proposed regulations (REG-112176-18) on the deductibility of state and local tax payments for federal income tax purposes.


Proposed IRS Regulations Issued Providing Guidance on New 20% Deduction for Flow-Through Entities

 

The IRS and Treasury issued proposed regulations providing interim guidance on the new Section 199A 20% deduction on Qualified Business Income introduced under the Tax ....


CNBC quoted Tax Principal Michael D’Addio in an article about the new IRS regulations for deducting pass-through income.

 

The IRS proposed a new rule on Aug. 8, addressing the 20 percent qualified business income deduction. This is a break for so-called pass-through entities, ....


The San Francisco Business Times quoted Regional Managing Partner Jeff Pera in an article about how new federal, state, and local tax laws are impacting the Bay Area housing market.

 

President Trump's tax overhaul limiting the deductions for mortgage interest as well as state and local taxes paid is already taking a toll on the ....


Newsday asked Melville Office Managing Partner Carolyn Mazzenga about deducting unreimbursed business expenses under the new tax law.

 

The tax overhaul wiped out the deduction for unreimbursed business expenses. Some companies might choose to ease the burden by setting up plans to reimburse ....


The New York Times quoted New Jersey Advisory Services Partner-in-Charge Ilan Hirschfeld about new alimony rules under the new tax law.

 

Lawyers and accountants often push their clients to plan for unpleasant events. Better to be prepared now than to pay the consequences later. But the ....


CNBC spoke with Melville Office Managing Partner Carolyn Mazzenga, also national leader of the Family Wealth Services group, about the long-range tax implications of converting a pass-through entity to a C-corporation.

 

Lower income tax rates have made incorporation an attractive strategy to some business owners, but accountants warn that entrepreneurs ought to think twice before going ....


Advisors magazine interviewed Tax Manager Michael Feinfeld about the proper approach to estate planning.

 

If pop culture's biggest stars end up with estates that vanish or fail to receive the right attention, then how can the average investor or ....


New York Employer Compensation Expense Tax

 

The New York State Department of Taxation and Finance has issued a memorandum outlining the details of the new Employer Compensation Expense Tax.


Long Island Business News interviewed Tax & Business Services Leader Joseph Perry for an article about the new rules for deducting entertainment expenses.

 

For decades, companies have been able to deduct 50 percent of the cost of entertaining clients. Uncle Sam helped pick up the cost for that ....


New Jersey Governor Signs 2019 Budget

 

On July 2, New Jersey Governor, Phil Murphy signed the state's new $37.4 billion budget, an 8% increase over the prior year's fiscal budget.


Tax Management International Journal published an article by Manager Ragini Subramanian on exit tax strategies.

 

The U.S. Department of Treasury recently published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency during the third ....


State of Illinois Implements Economic Nexus for Sales Tax

 

In light of the Supreme Court's ruling in South Dakota v. Wayfair, Illinois joins a growing number of states that are set to expand sales ....


The Hartford Business Journal published an article by Tax Principal Michael D’Addio, about workarounds legislated by the State of Connecticut to help taxpayers avoid the new federal cap on deducting state and local taxes.

 

The Connecticut General Assembly recently passed legislation intended to provide workarounds for taxpayers impacted by the new $10,000 limitation on the deduction of state and ....


Home Equity Loan Interest: Still Deductible, Just Depends When

 

The Tax Cut and Jobs Act of 2017, enacted in December 2017, included limits on the deductibility of interest paid on personal home equity loans ....


Tax Cuts and Jobs Act: Deducting State and Local Taxes as Charitable Contributions - IRS Says Not So Fast

 

The IRS issued Notice 2018-54 stating that the Service intends to provide regulations addressing legislation in some states that attempts to circumvent the new limitations ....


The National Association of Tax Professionals, New York chapter, published an article by Tax Manager Ragini Subramanian, about the taxation of personal services income received by a non-U.S./foreign person from the U.S.

 

This article is the second in the series of articles that discusses foreign-related issues - foreign information reporting, application for ITIN, foreign versus U.S. status, ....


Important Implications of the United States Supreme Court Decision in South Dakota v. Wayfair, Inc.

 

On June 21, 2018, the United States Supreme Court, in a 5-4 decision, ruled in favor of South Dakota and its economic nexus provisions for ....


Long Island Business News quoted Tax & Business Services Partner Robert Spielman in a column about common mistakes made by small businesses.

 

Starting a business is risky business. One in five new companies do not survive the first year, and only about half are still around after ....


Financial Advisor interviewed Trusts & Estates Co-Leader Ronald Finkelstein about the use of dynasty trusts to protect assets.

 

Though President Trump's tax form increases the amount that can be passed to heirs, these thresholds expire in 2025 - if a new federal administration ....


The Kiddie Tax: Changes That We All Need to Know About

 

Under the Tax Cuts and Jobs Act of 2017, Congress enacted a change to the commonly called Kiddie Tax rules, to prevent parents and grandparents ....


MarketWatch interviewed State & Local Tax Leader Paul Graney about the potential implications for Amazon of the Supreme Court’s ruling in the pivotal Wayfair state sales tax case.

 

Amazon already collects sales tax and could offer other online sellers help - for a fee. Amazon could actually benefit from the Supreme Court's sales ....


The Wall Street Journal excerpted State & Local Tax Leader Paul Graney’s interview with MarketWatch, about Amazon’s likely windfall from the Supreme Court decision in Wayfair v. South Dakota.

 

Just a few short years after the federal government eliminated Amazon's most formidable competition in book sales, Washington is now helping the tech giant prevent ....


CFO interviewed State & Local Tax Leader Paul Graney about how other states are likely to respond to the Supreme Court’s ruling in South Dakota v. Wayfair, Inc.

 

Online retailers took a sizable hit Thursday morning with the Supreme Court's landmark decision in South Dakota v. Wayfair.


Changes in Sales Tax Laws for U.S. States

 

The United States Supreme Court today rendered its decision in South Dakota v. Wayfair, Inc., a seminal case that will have a profound effect on ....


Forbes quoted Tax Partner Jayson Morgan in an article about how taxpayers can reduce their capital gains taxes.

 

Under the Trump tax overhaul, effective as of tax year 2018, most of the old tricks to avoid or reduce the capital gains tax bite ....


The New York Times quoted Partner Barry Fischman in an article about the 179D tax deduction for the construction of certain energy efficient building systems.

 

Over the past decade, hundreds of public projects have benefited from a federal incentive meant to encourage investments in energy‐efficient technology.


CNBC again quoted Tax Principal Michael D’Addio in a story about IRS efforts to prevent workarounds that circumvent the federal cap on deductibility of state and local taxes.

 

The Internal Revenue Service and Treasury Department will release new rules to address workarounds by high-tax states that are designed to help their residents manage ....


Foreign-Derived Intangible Income

 

Enacted as part of the 2017 Tax Cuts and Jobs Act, new Internal Revenue Code Section 250 creates a new tax deduction for income derived ....


Hillary Rodham Clinton to Keynote 2018 Marcum Women’s Forum in New York

 

Marcum LLP today announced that Former Secretary of State Hillary Rodham Clinton will be the keynote speaker at the Marcum Women's Forum in New York ....


Bloomberg News quoted Tax Partner Edward Reitmeyer in a story about the growth of dynasty trusts under the new tax law.

 

Many of the biggest beneficiaries of President Donald Trump's tax overhaul haven't even been born yet. The new law doubles the amount that can be ....


CNBC quoted Tax Principal Michael D’Addio in an article about tax “workarounds” to avoid the new federal ceiling on deducting state and local taxes on your federal return.

 

A number of high-tax states have recently passed legislation to help residents manage new caps on their ability to take federal tax deductions.


Tax Cuts and Jobs Act: What is the New Qualified Business Income?

 

The Tax Cut and Jobs Act of 2017 provides for a new deduction for partners, shareholders, and other owners of pass-through entities, known as the ....


MarketWatch published an article by Tax & Business Services Manager Michael Feinfeld about common estate planning disasters to avoid.

 

An approximately $30 trillion transfer of wealth is currently under way in the U.S. as aging baby boomers pass their assets to successive generations. This ....


Newsday quoted national Tax Leader Joseph Perry in an article about the windfall to New York’s U.S. Senators Chuck Schumer and Kirsten Gillibrand under the new tax law.

 

New York's Democratic senators - who publicly release their returns each year - will likely owe thousands of dollars less tax for 2018 thanks to ....


Tribune News Service asked Trusts & Estates Partner Janis Cowhey for advice in an article about the importance of planning ahead for assets that will later be inherited by a child.

 

Sometimes even families present only enough facts so that it looks like a no-brainer, but you have to consider everyone else's tax implications.


amNY quoted national Tax Leader Joseph Perry in an article about the taxes paid by New York City Mayor Bill de Blasio and his wife.

 

Mayor Bill de Blasio and his wife on Tuesday reported income of about $223,000 from his municipal salary and gave $350 in charity.


Logo TV interviewed Tax Partner Janis Cowhey for a NewNowNext article on what same-sex married couples should know about filing their taxes.

 

Few people would say they enjoy doing their taxes, but Tax Day causes extra stress for same-sex households, according to a recent survey from Credit ....


A Connecticut Post columnist urged readers to attend a panel featuring Greenwich Office Managing Partner John Mezzanotte discussing changes for high net worth taxpayers under the new tax law.

 

Due to tax law changes, 2018 presents a different environment than 2017 - but how different? Estate taxes have changed dramatically on both the federal ....


CNBC spoke with national Tax Leader Joseph Perry about how to mine your 2017 tax return for savings opportunities in 2018.

 

This spring, don't just stuff your completed tax return into a drawer. Go through it for savings opportunities you can seize right now.


Recalculating for Small Business invited Tax Principal Michael D’Addio onto the radio show to discuss tax changes for independent contractors in the gig economy.

 

Recalculating for Small Business invited Tax Principal Michael D’Addio onto the radio show to discuss tax changes for independent contractors in the gig economy.


Mic.com interviewed Tax Partner Janis Cowley, national leader of the Modern Family & LGBT Services group, for an article about what same-sex married couples should know about filing their taxes.

 

Few people would claim to love doing their taxes, but tax day is unarguably more difficult for some than it is for others. While confusing ....


New York State 2018-2019 Executive Budget

 

New York Governor Andrew Cuomo announced the adoption of New York State's 2018-2019 Executive Budget on March 30, 2018.


Bloomberg BNA’s Daily Tax Report published Part II of Tax Manager Ragini Subramanian’s article on the complex requirements of expatriation.

 

In Part 2 of a two-part article, Ragini Subramanian of Marcum LLP walks through determining the value, type, and location of a taxpayer's assets on ....


Bloomberg BNA’s Daily Tax Report published Part I of an article by Tax & Business Services Manager Ragini Subramanian about the intricacies of becoming an expatriate.

 

In Part 1 of a two-part article, Ragini Subramanian of Marcum LLP analyzes factors to consider when contemplating expatriation, including whether the taxpayer is a ....


Florida Passes New Tax Rate Reductions for Commercial Properties

 

Florida passes House Bill 7087, which includes a reduction of the sales tax rate for commercial rentals, along with other tax changes.


Farewell to the Offshore Voluntary Disclosure Program: The IRS Pulls the Plug

 

In spite of its many iterations since 2009 and the 56,000 new taxpayers with their $11 billion added to Internal Revenue Service coffers, on September ....


Long Island Business News interviewed Tax Leader Joseph Perry for an article about the new tax treatment of stock options granted to executive employees earning more than $1 million.

 

While a corporate tax cut that brought the top rate down from 35 percent to 21 percent is widely seen as the centerpiece of the ....


IRS Issues Notice to Explain New Toll Tax

 

On March 13, 2018, the Internal Revenue Service issued additional guidance to help taxpayers meet their filing and payment requirements under the new Section 965 ....


Inc. magazine quoted Philadelphia Tax Leader Ed Reitmeyer in an article about errors in the new federal tax law that could cost taxpayers big money.

 

Many entrepreneurs have celebrated President Trump's signature legislative achievement, the 2017 Tax Cuts and Jobs Act, for decreasing their annual tax bills.


Financial Advisor magazine interviewed Greenwich, CT, Office Managing Partner John Mezzanotte for an article about the loss of certain itemized tax deductions under the Tax Cuts & Jobs Act of 2017.

 

Under the tax reform legislation passed by Congress late last year, several familiar itemized tax deductions have ceased for 2018, such as those for unreimbursed ....


IRS Releases Updated Withholding Calculator and New Form W-4

 

Of the many changes enacted by the new tax law some of the most significant impact individuals, such as an increased standard deduction, elimination ....


The Tax Adviser published an article co-authored by Tax Director Don Zidik, about recent developments in individual taxation.

 

This article is a semiannual review of recent developments in the area of individual federal taxation, including issues of deductible alimony, trade or business expenses, ....


California Preliminary Report on Specific Provisions of Federal Tax Reform

 

The Tax Cuts and Jobs Act of 2017 will have many consequences for taxpayers in the State of California.


Global Intangible Low Taxed Income: A Step Away from Territorial

 

The new tax reform law has been widely touted by the media as transforming the U.S. into a territorial system of taxation as used by ....


FASB's Q&A Guidance on the Impact of Tax Reform on Financial Accounting

 

After the Tax Cuts and Jobs Act was passed, concerns were raised to the Financial Accounting Standards Board regarding implementation of certain provisions of the ....


New Tax Treatment of Alimony

 

Of the many changes for individual taxpayers wrought by the Tax Cuts and Jobs Act of 2017, one of the most sensitive is the new ....


The New York Times quoted national Tax Leader Joseph Perry in an article discussing the complexities and confusion created by the Tax Cuts & Jobs Act, and the likely battles yet to come in Congress.

 

Never mind that once in a generation tax bill that just passed last year. Congress is headed for years more of big fights over taxes, ....


The Impact of Tax Reform on Financial Accounting

 

On December 22, 2017, the Tax Cuts and Jobs Act, was signed into law. The Act will have a significant impact on financial reporting issued ....


The New Corporate Blended Rate for Fiscal Year Entities

 

On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act into law, changing the entire U.S. tax landscape. A major component ....


Commercial Building Energy Tax Incentive Extended for 2017

 

Early in the morning on February 9, 2018, to avert an impending government shutdown, Congress passed a large omnibus budget titled the Bipartisan Budget Act ....


Long Island Business News wrote about the advice Marcum panelists gave to businesses considering restructuring as C-corps, during the Firm’s recent tax reform seminar in Melville.

 

Much of the Marcum seminar focused on the taxation differences between C‐corps and pass‐through entities, which include partnerships, S‐corporations, limited liability companies and sole proprietorships.


New IRS Directives Issued for Transfer Pricing Examinations

 

On January 12, 2018, the Large Business and International Division of the Internal Revenue Service issued five directives which provide instructions on how IRS agents ....


Bipartisan Budget Act of 2018

 

The Bipartisan Budget Act of 2018, enacted last Friday, February 9, contains a number of tax breaks for both individuals and businesses. These include the ....


The Hartford Business Journal quoted Connecticut Tax Partner-in-Charge Brett McGrath, in an article about the impacts of the Tax Cuts & Jobs Act of 2017.

 

More than 30 years after digesting the last major federal tax overhaul, Connecticut accountants and legal advisers working to interpret the latest changes to the ....


The Hartford Business Journal published a column by Tax Services Director Marla Esan about the impacts of the Tax Cuts & Jobs Bill for nonprofit organizations.

 

Like every sector, nonprofits won some and lost some in the Tax Cuts & Jobs Act. Here is a brief summary of the provisions impacting ....


How the Tax Cuts and Jobs Act Affects Real Estate Entities

 

On December 22, 2017, a new tax reform bill known as the Tax Cuts and Jobs Act was signed into law. The Act will affect ....


CNBC quoted Tax Principal Michael D’Addio in an article about adjusting paycheck withholdings to comply with the new tax rates for individuals.

 

In January, the Treasury Department released its income tax withholding tables, updated to reflect changes stemming from the Tax Cuts and Jobs Act. The new ....


Bloomberg News quoted Ed Reitmeyer, Philadelphia partner-in-charge of Tax Services, in an article about tax strategies for owners of pass-through businesses under the new tax law.

 

If exploiting a tax loophole is as much an art as a science, then the tax planning profession is poised for a creative renaissance. The ....


Workandmoney.com interviewed Tax Partner Diane Giordano for an article about what the new tax law means for small businesses.

 

The new tax law became both the beauty and the beast for companies of all sizes across the country when 2018 officially opened for business.


Fox Business spoke with Tax Principal Michael D’Addio about the need to adjust paycheck withholdings under the new tax law.

 

As employees begin to receive their updated paychecks based on the new tax code changes, many are seeing incorrect withholding amounts, which could lead to ....


Long Island Business News reported on the Marcum tax panel the publication’s editor is co-moderating with Melville Office Managing Partner Carolyn Mazzenga.

 

Long Island Business News Editor Joe Dowd and Marcum Melville Office Managing Partner Carolyn Mazzenga are set to moderate a series of panel discussions tonight ....


Bloomberg’s Talking Tax podcast invited Tax Principal Michael D’Addio onto the show for a discussion about whether the new tax law will drive pass-through entities to convert to C-Corporation status.

 

The new tax law lowers the corporate tax rate to 21 percent—a change that some lawmakers have suggested could prompt pass-through entities to convert to ....


Long Island Business News quoted State & Local Tax Leader Paul Graney in an article about options New York State is considering to counter the regional tax impact of the federal Tax Cuts & Jobs Act.

 

Facing new federal rules that limit state and local tax deductions, New York and California are considering options to give their residents a big federal ....


CFO.com published an article by Tax Leader Joseph Perry and Tax Principal Michael D'Addio, discussing the pros and cons of C-corporation v. pass-through entity status under the new tax law.

 

A 21% income tax rate might sound appetizing to some pass-through entities, but C-corporation status doesn't suit every organization.


Associated Press quoted Tax Principal Michael D’Addio in an article about how small businesses are capitalizing on the new tax law.

 

Although there are still many unknowns about the tax law that took effect Jan. 1, some small business owners have already figured out that they ....


Newsday cited an analysis of President Trump’s leaked tax return by New York Tax Partner-in-Charge Maury Cartine for NBC News.

 

The Joint Committee on Taxation, Congress' official nonpartisan budget analysts, reported that a pending Senate bill would give large tax cuts to millionaires while raising ....

 
 
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