In many instances, professionals in the early years of developing their practices will delay putting funds aside for retirement.
Normally, if a transaction is subject to sales tax, the tax is imposed upon the price charged the retail customer with respect to the sale of taxable tangible personal property or the provision of taxable services.
With state governments facing sharp declines in tax revenue and increases in fiscal spending, more and more states are searching for additional revenue streams.
From a tax perspective, pass-through structures — such as limited liability companies (LLCs), S corporations and partnerships — have been the preferred business entity choice in recent years.
or years, like a worn-out record, Congress repeatedly went through the motions of temporarily patching the alternative minimum tax (AMT), with the goal of limiting the number of taxpayers who were liable to pay it.
Now that lawmakers have made high gift and estate tax exemptions “permanent,” you may feel less pressure to make lifetime gifts to reduce the size of your taxable estate.
Watch out for unscrupulous payroll providers
Litigation in the wake of corporate frauds is keeping the in pari delicto defense in the news - and its critics apoplectic.
The practice of philanthropy has played an enormous role in the building and promoting of education, religion, social welfare, the arts and charitable institutions.
Real estate rental activities are considered passive activities for all taxpayers except qualifying real estate professionals.
If you have any questions about the contents of this issue, please e-mail Partner-in-Charge of the Fashion Services Group Harriet Greenberg at HGreenberg@friedmanllp.com. In This Issue: Pay or play: are you ready for the new health care rules?Source: Friedman LLP Whose Brand is it Anyway? Ensuring Tour Brand is Paramount in a BPO...
Under accounting principles generally accepted in the United States of America (U.S. GAAP), financial statements are prepared under the presumption that the reporting entity will be able to continue as a going concern.
Earlier this year, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-06, "Not-for-Profit Entities (Topic 958)...
As you begin to prepare for the end of 2013, there are many things that are on your mind. One is most likely the upcoming healthcare reform due to the Affordable Care Act.
Although The Department of Labor (DOL) published final regulations on January 14, 2010 (and effective on that date) providing "safe harbor" rules governing timely deposit of employee 401(k) contributions...
Every taxpayer at one time or another will get some type of correspondence from the IRS, but many are unaware of the proper steps to take in responding to it.
A recent ruling issued by the New York State Department of Taxation and Finance (the “Department”) provides some interesting guidance...
Beginning on Jan. 1, 2015, the health care act requires “large” employers to either: 1) provide “minimum essential” health care coverage to full-time employees
As the end of 2013 approaches, it’s time to think about year end tax planning.
When a family member experiences hard times, other family members might be quick to lend them whatever amount they need.
Is time running out for GRATs?
Section 1502 of the Dodd-Frank Act (the "Act"), passed by Congress in 2010, directed the SEC to issue rules requiring certain companies to disclose their use of so called "conflict minerals"...
If you haven't already taken steps toward compliance with the next wave of Affordable Care Act requirements, now is the time to do so.
If you have any questions about the contents of this issue, please e-mail Partner-in-Charge of the Fashion Services Group Harriet Greenberg at HGreenberg@friedmanllp.com. In This Issue In New York's Outer Boroughs, the Need for More Retail Space ContinuesSource: Friedman LLP (Property Matters) Five Trends That Will Revolutionize the Sourcing BusinessSource: Sourcing Journal Retail Sales:...
With the amount of reliance that investors place upon the audited financial statements of publicly held companies, it is no surprise that regulators...
If you have any questions about the contents of this issue, please e-mail Partner-in-Charge of the Fashion Services Group Harriet Greenberg at HGreenberg@friedmanllp.com. In This Issue NYC Employee Benefits Your Company May Have OverlookedSource: Friedman LLP (Property Matters) Is the Unpaid Internship Dead?Source: Forbes.com Consumers Dial Back on Their SpendingSource: Wall Street Journal Retailers Align...
With millions of residents and more than 52 million visitors shopping annually, New York City is considered the world’s top retail location.
The retail mall, home of department and specialty stores, food courts, health clubs and assorted retailers, is slowly becoming the home of medical practices...
New York City offers many job opportunities in the field of real estate that are coveted and highly sought after by job candidates.
Increasingly, globalization is impacting the tax-exempt sector's activities including fundraising, grantmaking and investing.
Many taxpayers, when confronted with an overwhelming New York State tax liability, throw their hands up to the sky in despair...
In most states, sales tax is imposed on the sale of tangible personal property and certain specifically enumerated services.
Thanks to the American Taxpayer Relief Act (ATRA), the maximum capital gains tax rates are at their highest levels in years.
Tax increases for the affluent have dominated headlines this year. But don’t overlook the impact of higher taxes on trusts.
Beginning in 2014, the Patient Protection and Affordable Care Act requires “large employers” — those with 50 or more full-time-equivalent employees — to provide affordable health care coverage or pay a penalty.
This article was originally published in the July 2013 issue of SEC Impact
During Friedman LLP's recent healthcare seminar, Healthcare Reform: Are You in Compliance?, Nixon Peabody LLP Counsel Kate Saracene and Friedman LLP Principal Michael Greenwald...