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  • 03/21/2018
    Tax Cuts and Jobs Act: Enabling Donor Success
    By Sarah Avery, CPA, Director

    Tell your donors about these six Tax Cuts and Jobs Act changes to promote effective charitable giving strategies and tax efficient giving for your nonprofit: 1. Help Donors Help You Rethink your fundraising techniques to stay current with the widespread changes caused by the Tax Cuts and Jobs Act: Take your charitable giving strategy a step...

  • 03/21/2018
    K-12 Cybersecurity: Helping Schools Pass the Test
    By Sean Johnstone and William Mendez | Friedman CyZen LLC

    Since January 2016, cybersecurity incidents in Kindergarten through 12th grade public schools across the United States are up 223% year-over-year. In this time, 300 reported incidents resulted in leaked faculty, students’ and parents’ personal information, lost taxpayer dollars and wasted class time due to systems and networks shutdowns. 1 What makes...

  • 03/01/2018
    Must-Know Social Media Tips to Safeguard your Nonprofit’s Reputation
    By Amish Mehta, CPA, Partner and Not-for-Profit Practice Leader                       Editor: Gabrielle Too-A-Foo, Marketing Writer/Communications Specialist

    Living in the peak of digital existence makes Warren Buffet’s timeless quote more appropriate than ever, "It takes 20 years to build a reputation and five minutes to ruin it.” Social media is an incredible tool to raise brand awareness about your nonprofit’s mission, fundraise and generate leads; however, it...

  • 01/26/2018
    Unpacking the Pros and Cons of Fulfillment by Amazon
    By By Michael Sacco, CPA, Partner

    For your apparel or consumer product company to grow and succeed in a competitive global marketplace, a strong Amazon presence and a clear understanding of key services — especially Fulfillment by Amazon (FBA)— could be vital. This Fashion Sense issue unpacks the pros and cons of the FBA program to determine if...

  • 01/24/2018
    How the Tax Cuts and Jobs Act will Impact your Tax-Exempt Organizations and Charitable Giving Strategy
    By Ralph Citino, CPA, Director & Yana Fishman, CPA, Manager 

    The “Tax Cuts and Jobs Act,” signed by President Trump on December 22, 2017 includes three sweeping tax law changes that will directly impact the nonprofit sector. This Nonprofit Advisor identifies important changes to reporting rules, unrelated business income tax and excise tax that will greatly affect your tax-exempt organization...

  • 01/19/2018
    Phishing for Your W-2: Key Cyber Security Tips to Avoid Being Caught During Tax Season
    By Sean Johnstone and Jake Lehmann, Friedman CyZen LLC

    Phishing campaigns topped the IRS “Dirty Dozen” List of Tax Scams for 2017. In the previous year, the IRS saw a 400% surge in phishing and malware incidents during tax season, which cost American taxpayers $21 billion. This exclusive article from our cyber security advisors of Friedman CyZen LLC, a...

  • 01/19/2018
    GILTI Tax Casts Broad Fishing Net
    By Erasmo Bruno, LL.M., JD, CPA, Principal

    The New International Tax Law created a new type of tax on global intangible low-taxed income (“GILTI”) that has a dual identity. On the one hand, the tax on GILTI is intended to impose a preferential tax rate of 10.5% on foreign intangible income so that the United States can...

  • 01/19/2018
    Are bad business debts deductible?

    If a business owner holds a business-related debt that’s become worthless or uncollectible, a “bad debt” deduction may allow him or her to cut their losses. But don’t assume a debt is deductible just because the odds of collecting are slim. This article explains the differences between a business and...

  • 01/15/2018
    Michael Greenwald, MPPM, CPA Partner: Special Guest on “The Stoler Report.”

    Friedman LLP's Michael Greenwald discusses critical insights on the Tax Reform Act’s impact on small business and real estate. Watch his exclusive segment feature here.   ...

  • 01/11/2018
    “Spectre” and “Meltdown:” Tips to Minimize Risk from the Latest Widespread Cyber Security Threat
    By By William Mendez, CISSP, Director | Friedman CyZen LLC (“CyZen”)

    Security researchers recently discovered a hardware information flaw in computer processors across millions of devices, allowing access to your machines’ deepest inner workings and compromising your privileged information. Initial reports alluded to a single vulnerability, a flaw in Intel chips, but there are two: “Spectre” and “Meltdown.” Everyone is at risk....

  • 01/08/2018
    Friedman LLP’s Robert Charron Featured Guest on the Stoler Report
    By Michael, Stoler

    Friedman LLP’s Robert Charron was a featured guest on the newest Stoler Report, “The Tax Reform Act & Its Effect on the Individual.” With the vast uncertainty surrounding the new tax law, it’s clear that corporations will benefit greatly, but will others feel these advantages as well? Charron states that...

  • 12/18/2017
    Spend or Save your Nonprofit’s Endowment?
    By Amish Mehta, CPA, Partner

    Donors and policymakers have become increasingly systemic in their consideration of nonprofit endowment management. Whereas the more traditional approach...

  • 12/12/2017
    2017 Tax Reform: How the House or Senate Approach Could Reshape Real Estate
    By Michael Greenwald

    At present, it’s impossible to know what version of Tax Reform will become law in 2017—the House version, the Senate or a hybrid compromise position. We’ve kept you informed of the possible cross-industry impact of the President’s “September Tax Reform Framework” and potential problems with the House Tax Reform Bill on...

  • 12/11/2017
    Selling a Personal Residence: What Costs Qualify as Home Improvements?
    By Karl Neulinger

    During tax season, we are frequently asked, “What home improvements are tax deductible?” Selling a personal residence can be complex in itself. Factor in the tax implications and things become even more complicated. This Property Matters article will explain which improvement costs qualify and in addition offer tips for safeguarding...

  • 12/06/2017
    Building Today for the Future: How Healthcare is Spiking Construction in the Tristate Area
    By Michael Stoler, The Stoler Report

    Fueled by the need for modern, state-of-the-art healthcare facilities, billions of dollars are being allocated at record proportions toward the development of healthcare projects throughout New York City and the larger metropolitan region. Construction Forecast through 2020 According to a forecast construction spending report on healthcare real estate trends released by the...

  • 11/15/2017
    Maximize Year-end Charitable Contributions: Navigating Tax Reform for Nonprofit Leaders
    By Ralph Citino, CPA, Director & Brooke Karafin, Tax Manager

    Knowing the best steps to take in order to secure your nonprofit’s longevity can be daunting in an ever-changing tax reform landscape. Many nonprofit organizations fear that they will lose donors in the long run if the federal tax incentive for their charitable giving is reduced or nullified for taxpayers....

  • 11/07/2017
    Tax Guide 2017-2018

    To help steer your tax planning strategies under the current Trump Administration, this online guide provides an overview of key tax provisions you need to be aware of amidst the possibility of dramatic changes in tax law. For example, you could see changes to your tax rates and breaks and...

  • 11/06/2017
    Download Tax Reform White Paper Now!

    As Washington takes up the mantle of tax reform, Friedman LLP proudly releases a timely study featuring insights gleaned from a broad-based web survey of more than 480 business leaders on their reactions to proposed tax changes.  This exclusive report, developed by Friedman, breaks down the survey results into 6 key...

  • 11/01/2017
    How to Claim Research Payroll Tax Credits

    If a business dedicates resources to creating or improving products, processes or software, it may be eligible for substantial federal tax credits for “increasing research activities.” There’s just one catch: To enjoy the benefits, the company must have sufficient federal tax liability against which to offset the credit. Historically, that...

  • 11/01/2017
    Tax Tip

    Mutual Funds, Deductions, and Capital Gains

  • 11/01/2017
    Unclaimed Property Tips to Protect your Business in the Present
    By Tom Corrie, JD, LLM, Principal

    Nearly twenty years ago, while consulting with several clients about state and local tax issues, I discovered a problematic theme—noncompliance in the unclaimed property (UP) area. Oftentimes, when I mentioned unclaimed property, client responses fell into two categories: the client denying that they had unclaimed property or the client admitting...

  • 11/01/2017
    Philadelphia’s Onerous Business Tax Regime

    Must-knows on the BIRT and NPT

  • 10/31/2017
    5 Must-Knows Before You Hire a Nonprofit Fundraising Consultant

    Hiring a nonprofit consultant to execute and amplify your organization’s philanthropic initiatives may seem like a no-brainer. However, subpar fundraising campaigns can often result when organizations do not perform due diligence, which include, scaling the benefit of a fundraising consultant, selecting the right person for the job and knowing how...

  • 09/29/2017
    Emerging Trends in Residential Rental Apartments: The Advent of the Lifestyle Building
    By Michael Stoler, The Stoler Report

    An influx of new co-living and residential shared housing rental apartments throughout the metropolitan area are transforming the marketplace. This influx is in response to a desire among city dwellers to cultivate an all-inclusive in-house experience that champions community building and optimizes efficiency in tight living quarters. This issue of...

  • 09/29/2017
    New Jersey Bulk Sales Rules: For the Protection of Buyers and the State
    By Alan Goldenberg, JD, MBA, LL.M

    States are often concerned that sellers of assets, particularly those from out-of-state, will disappear with the sales proceeds without satisfying their state tax obligations. To prevent this, many states require the filing of a bulk sales notice with the taxing authority notifying it of the pending sale. This allows the...

  • 09/29/2017
    Reverse 1031 Exchanges: Stay Within the Safe Harbor or Be Prepared for Uncharted Waters
    By Andrew Cohen, JD, LL.M

    Key Takeaways from the Bartell Case

  • 09/27/2017
    Essential Guidance for Navigating Impactful Disaster Relief Assistance Opportunities

    Knowing your options for providing assistance is the first step toward making a big impact on communities that have been devastated by disaster. Even the most seasoned donors or nonprofits can fall victim to opportunistic entities that divert funds from charitable causes to pad their own pockets. In the wake...

  • 09/25/2017
    VIDEO: Succession Planning

    Don't Wait Until it's Too Late

  • 09/06/2017
    Protect Your Company Against High Credit Risk Customers:

    5 Must-Know Tips for C-Suite Personnel and Shareholders

  • 08/29/2017
    The Future of Charitable Giving, Part II
    By Sarah Avery, CPA, Director

    Incorporating donor-advised funds and other giving vehicles in your fundraising toolkit

  • 08/23/2017
    Tax Tips: Home Sale Exclusion and Tax-Free IRA for Kids

    These brief tips discuss how the IRS now views the unexpected birth of a child an "unforeseen circumstance" when it applies to the home sale exclusion and also explains how children can take advantage of a tax-free Roth IRA. Home sale exclusion: Unexpected birth is “unforeseen circumstance” The unexpected birth of a...

  • 08/23/2017
    Cash vs. Accrual: Are You Using the Right Accounting Method?

    Which accounting method should your business be using for tax purposes? Many business owners are surprised to learn that they have a choice. True, certain businesses are required to use the accrual method, but you’d be surprised how many businesses are eligible for the cash method. If you have the...

  • 08/23/2017
    What’s New in Tax Reform?
    By Michael J. Greenwald, MPPM, CPA, Partner

    With the last major tax overhaul taking place more than thirty years ago, it’s time to modernize the tax code so it works for businesses and individuals in the 21st Century. However, the tax code is complex and reform is a tricky subject for Congress — the slightest change is...

  • 08/23/2017
    For Surviving Spouses: It’s Not Too Late to Elect Portability
    By Scott Testa CPA, JD, Partner 

    If you missed the filing deadline to elect portability and increase your federal gift and estate tax exclusion, there's still time. A recent Internal Revenue Services (“IRS”) Revenue Procedure, Rev. Proc. 2017-34, provides a simplified, less expensive way to get an extension, make the election and reap substantial tax savings. This...

  • 08/07/2017
    The Future of Charitable Giving:
    By Audrey Sherrick, CPA, Partner

    A Pulse Check on Tax Reform Proposals

  • 08/01/2017
    What You Need to Know - ASU 2017-11
    By Christopher Smith, CPA, Partner

    The Financial Accounting Standards Board (“FASB”) recently announced an important Accounting Standards Update that affects all entities that issue equity-linked financial instruments with “down round” features. The Update simplifies the accounting for financial instruments with these features. What is a Down Round? A “down round” is a financing in which a company...

  • 06/28/2017
    10 Key Considerations in Selecting the Right Third Party Logistics Supplier

    In today’s retail environment, speed to market is critical. Fashion products have short lifecycles, as the consumer demand of millennial shoppers is rapidly changing. Companies must focus on methods for keeping up with customer service, yet still control costs. Outsourcing the supply chain management to a third party logistics supplier...

  • 06/27/2017
    Capacity Building: Is Your Organization Ready?
    By Sylvia Mazur, Audit Manager

    “Capacity building” is a broad term which is in vogue among non-profit organizations. In a nutshell, capacity building refers to any effort to improve an organization by implementing internal strategies that will enhance the organization’s effectiveness and take it to the next level. These strategies encompass development of leadership/staff, strategic...

  • 06/26/2017
    Tax Tips

    These brief tips explain why it’s important to obtain a contemporaneous written acknowledgment when substantiating a charitable deduction; detail a court case involving the mortgage interest deduction; and cover why a cash balance plan may be the answer for business owners who have fallen behind on retirement plan contributions. Charitable deductions:...

  • 06/26/2017
    You can’t take it with you

    Making the most of tax carryovers

  • 06/26/2017
    What Is This Thing Called “Use Tax”?
    By Tom Corrie, JD, LLM, Principal

    Perhaps one of the most misunderstood areas in the state and local tax field is that of “use tax.” Most people comprehend the concept of sales tax— that when taxable property or a taxable service is purchased, forty-five of the fifty states impose a tax upon the retail sale of...

  • 06/26/2017
    Business Traveling Tax Wisely
    By Liz McGrath, International Tax Director 

    Did you know that employers can deduct employees’ travel expenses, including amounts for meals and lodging, if both the employer and the employee carefully follow the tax rules? Conversely, if the rules are not followed, the expenses will be taxable to the employee and fully subject to FICA and payroll...

  • 06/21/2017
    Dealer vs. Investor: What Factors Are Considered and Why It Matters
    By Andrew Cohen, JD LL.M

    When real property is sold for a gain or loss, an important question to ask is whether the seller is a dealer or investor in real property. The ultimate resolution of the dealer versus investor question has significant tax implications given the current differences between the capital gain and ordinary...

  • 06/21/2017
    Meeting the Housing Needs of the Aging Baby Boomer Population
    By Michael Stoler, The Stoler Report

    Baby boomers, those born between 1946 and 1965, have brought both challenges and opportunities to the U.S. economy, infrastructure, and institutions as they have passed through each major stage of life. According to The Population Reference Bureau, the current growth of the population ages 65 and older is one of...

  • 06/21/2017
    Unintended Consequences of Trump Tax Proposal
    By Michael Lawrence, Tax Manager

    Throughout the contentious 2016 presidential race, then-candidate Donald Trump promised an overhaul of the United States tax system. He articulated a streamlined tax code with fewer income tax brackets, reduced rates, and a purge of several taxes altogether. At first glance, these campaign pledges seem to promise a boon to...

  • 06/08/2017
    Webinar Recording | Tax Reform in the Trump Era

    Concerned how tax proposals may impact you and your business? Learn how other business leaders would react to tax reform and get prepared for the changing landscape ahead! This timely webinar presented by Friedman LLP features insights gleaned from our recent survey examining business leaders' reactions to various tax proposals. During...

  • 05/25/2017
    A Year After OMB Uniform Guidance Implementation: What We Learned
    By Marie DeCicco, CPA, Principal

    It’s a year after implementation of the Uniform Guidance, which was effective for all federal awards provided after December 26, 2014, and we have now completed the initial cycle of single audits under the new guidance. The experience and knowledge gained will help as we prepare and plan for upcoming...

  • 05/24/2017
    Decoding State Tax Nexus for Foreign Companies
    By Alan Goldenberg, JD, MBA, LLM

    In order for a state to legally impose its taxes upon an out-of-state entity, nexus – a connection between the income producing company and the state – must exist. Nexus laws, which may vary from state to state, can be particularly troublesome for foreign companies who often overlook these complex...

  • 05/24/2017
    Sales and Use Tax when Purchasing Art
    By Tom Corrie, JD, LLM, Principal

    Sales and use tax considerations can be quite complex, and when applied to the purchase of high-end art, these taxes can add up to a hefty sum. During the course of our everyday practice, our clients regularly ask us to address tax issues regarding the purchase and sale of artwork....

  • 05/24/2017
    Proposed Tax Reform Creates Decisive Willingness to Adjust Structure Among Businesses, According to Survey
    By Jo Anna M. Fellon, CPA, Principal and Brian Kristiansen, CPA, Partner

    In May, as the last of the cherry blossoms fall in our nation’s capital, Congress will begin its final session before recessing in early August and retreating to the open waters of Nantucket Sound. Charting much of their course this summer— while eliciting serious discussion and debate among senior business...