Message from Joseph J. Perry

Over the past few years, my introductory note to this annual Tax Guide has focused on change and significant legislation. At some point, we all hope Congress “gets the tax code right” so we can continue to build our businesses and personal financial wealth with tax certainty. We all know 2017 will not bring that certainty, as no matter who is in the White House, and no matter who controls Congress, change is sure to come.

As the head of Marcum’s tax practice, I deal with change every day. We are continually expanding and improving our delivery of services and broadening our tax specialties, while focusing on being the best tax professionals in the industry. All of this occurs while the federal and state tax world around us is constantly in flux. It is a challenge I cherish and look forward to every day.

I am pleased to report our efforts at Marcum have been successful as we continue to grow our practice, serve our clients according to the highest professional standards, and provide a stimulating and engaging work environment for our team members.

We will all face tax challenges in 2017, as Congress and our new President sort out their respective parties’ platforms. Hopefully, a workable compromise on divergent tax philosophies will be reached. While some measure of agreement may be achieved, the road to resolution will certainly be long and arduous. Hopefully, any changes will simplify our clients’ understanding of what is expected of them, while reducing the compliance burden and the costs incurred to meet their filing obligations. We remain focused on delivering quality, proactive services in a cost efficient manner, regardless of how far-reaching or nuanced tomorrow’s tax law changes may be.

While this 2016 Tax Guide is, in a sense, historical, in that it addresses rules presently in effect, we are always looking ahead to potential changes and how they might affect our clients. As in the past, please use this Tax Guide as a reference for your 2016 planning. Keep in mind that tax rules are often changed retroactively. The application of complex rules and regulations should be reviewed by qualified professionals before ultimate decisions are made. We hope you continue to rely on Marcum as your tax professional, as we are well-versed in the tax rules and regulations as they presently exist, and we constantly anticipate where those rules and regulations may be heading.

No matter what legislation ultimately makes its way through Congress, Marcum is here to partner with you to plan and execute strategies geared to accomplishing your objectives. We are here to assist with your day-to-day compliance needs and to help you build wealth for yourselves and your families. No matter the challenges we will all face from a new President and new Congress, Marcum is ready to serve you.

The tax laws and planning ideas in this year’s Marcum Tax Guide are a refresher on rules and regulations that may be applicable to you. Use this guide to think about planning ideas that may be beneficial in your specific circumstances. I encourage you to talk with your Marcum tax advisor so, together, we can plan and implement wealth-building strategies appropriate for you.

Serving all your tax, planning and compliance needs this upcoming year is an honor all Marcum partners and associates appreciate. Thank you for your business and your trust in us to help you achieve your financial goals.

2017 will be a year of interesting tax developments. We trust it will be a year of happiness, health, and success for all of our clients, friends, and associates.

Joseph Perry