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- 12/13/2018
Steve Bokiess on Qualified Opportunity ZonesSteve Bokiess, Partner and Leader of Friedman's new Qualified Opportunity Zones Consulting practice presented on the topic of Qualified Opportunity Zones (QOZ) at Friedman's Real Estate Forum that took place last month. As a new opportunity for tax incentives formed under the Tax Cuts and Jobs Act, QOZ is a very hot...
- 12/12/2018
Jo Anna Fellon on Easing Nerves Over New Reporting RequirementsJo Anna Fellon, CPA, Partner gave her reassuring insights to Compliance Week in their article on companies' shift in tax reporting under the Tax Cuts and Jobs Act. Fellon is quoted on how high anxiety over the new reporting standards is often blown out of proportion. To read the full article, click here....
- 12/11/2018
IRS Issues Proposed Regulations on Business Interest Expense DeductionsBy Michael J. Greenwald, MPPM, CPA, PartnerAs 2018 comes to a close and with the holidays upon us, the IRS has given us a gift in the form of extensive regulations. Specifically, we now have more guidance on the regulations governing the new limitation on business interest deductibility. In April 2018, the IRS released temporary guidance on...
- 12/11/2018
Shaji Varghese, CPA, Partner and Brandon Baker, CPA, Principal Join Friedman LLP’s Philadelphia Office - Expanding the Firm's Robust Client OfferingsNew York - December 11, 2018 - Top 50 accounting and advisory firm Friedman LLP announced today that Shaji Varghese, CPA, Partner, and Brandon Baker, CPA, Principal, have joined the firm’s Philadelphia office, bringing with them a wealth of cross-industry expertise. Shaji Varghese is an Audit Partner at Friedman LLP, bringing...
- 12/11/2018
Tax Structuring and Planning Considerations for International Businesses By Adnan Islam, JD, MBA, LL.M., CPA, PartnerWith 2019 around the corner, international businesses still have an opportunity to restructure ownership and operations to exploit the dramatic changes made by the Tax Cuts and Jobs Act (TCJA or the Act). Prior ownership and operational structures may be outdated and inefficient and must be reviewed to assess the benefits...
- 12/10/2018
Kevin Hyams on Corporate Culture in JapanKevin Hyams, Partner in Charge of Friedman's Governance, Risk and Compliance practice, was recently quoted in an article by Law360 concerning the arrest of Nissan Chairman Carlos Ghosn. In the article Hyams discusses the lack of consistent corporate culture in Japan and how this has affected numerous companies in the country. To read...
- 12/10/2018
Webinar Recording: Unclaimed PropertyOn December 6th, we hosted a webinar on increased unclaimed property risks and how to mitigate your company's financial and operational exposure. With states aggressively pursuing unclaimed property, our goal was to share practical guidance to help you to establish a sound reporting process and remain compliant....
- 12/07/2018
NYC Real Estate Forum Spotlight: Alternative Financing, Opportunity ZonesOn Thursday, November 29th, Friedman hosted its NYC Real Estate Forum in Midtown Manhattan. The focus of the forum was "The Rise of Alternative Lending in Commercial Real Estate" showcasing industry leaders' firsthand experience and knowledge of this growing source of financing. The forum also featured keynote speaker John Catsimatidis of Red Apple Group and was...
- 12/04/2018
Friedman LLP Names Kim Dula Managing Partner for Philadelphia OfficeAccomplished tax and planning professional to succeed current Managing Partner Chuck Shechtman, who will remain as Partner
- 12/04/2018
Jake Lehmann on Wifi Security at AirportsManaging Director of Friedman CyZen, Jake Lehmann, gave his expert insight on the risks of using airport public wifi and the safety measures you can take to avoid your personal information being compromised. To read the full article by the Los Angeles Times, click here....
- 12/03/2018
Bob Charron on Wall Street Tax PartiesTax Practice Leader, Bob Charron, gave his expert insight to the New York Post on how many Wall Street bankers and traders are using elaborate parties as write-offs for their inflated tax bills. “The taxes on their income this year are enormous, especially if they live in Manhattan, where it can be...
- 11/30/2018
Jake Lehmann on Avoiding Holiday Cyber ScamsJake Lehmann was recently interviewed by US News and World Report for his expert insight on cyber scams around the holiday season. Lehmann discusses the shady tactics used by many hackers to steal valuable personal information, especially during a time when many people are shopping online for gifts. To learn how hackers are...
- 11/29/2018
Highlights from Commercial Observer’s Downtown Forum Featuring Friedman’s Fred BerkFred Berk, Co-Managing Partner and Real Estate Practice Co-Chair, joined distinguished real estate leaders from Brookfield Properties, Cushman and Wakefield, Jack Resnick and Sons and Howard Hughes Corporation for an interactive panel discussion on “Downtown's Return as One of NYC's Hottest Submarkets.” For exclusive coverage of the event, head here....
- 11/27/2018
Clarity From Capitol Hill:How you can benefit from the 199A Pass Through Deduction
- 11/26/2018
Bob Charron Quoted by Consumer ReportsTax Practice Leader, Bob Charron, was recently quoted in an article by Consumer Reports on the deductability of large medical bills. "If one spouse has high medical expenses and a relatively lower adjusted gross income, filing separately may allow that spouse to exceed the 7.5-percent floor and deduct some medical expenses that...
- 11/19/2018
[Checklist] New Financial Reporting Standards, New Game PlanWith December a few weeks away, the countdown to implementing the New Financial Reporting Standards is on. We compiled a simple checklist to give you step-by-step guidance to keep you prepared and compliant, so you can set the gears in motion now to avoid unwanted surprises tomorrow. Miss our webinar recording?...
- 11/19/2018
Ask the CPA - Matthew BlankIn this edition of Ask the CPA, Business Development Manager, Matthew Blank, discusses ways to enhance the brand awareness of your professional services firm. According to Matthew, the key is to teach employees how to be successful advocates of your organization. See all that he has to say, here....
- 11/19/2018
Inbound US Tax Issues for Middle Market CompaniesFriedman's Adnan Islam recently authored an article featured in Law360 regarding the tax changes brought along by the Tax Cuts and Jobs Act and how it affects non-US corporations. Read the full article, here....
- 11/16/2018
Kim Dula Featured on HerMoney.comFriedman's Kim Dula was recently featured in an article on HerMoney.com titled "Bridging the Women's Retirement Income Gap". In the article Kim gives her expert insights on how to properly invest for the future. Read the full article here....
- 11/13/2018
Friedman LLP Announces Plan to Move NYC Office to One Liberty PlazaNew working space to boast latest amenities and technology
- 11/13/2018
Tax Guide 2018-2019Concerned how the latest tax developments may impact your 2018 tax strategies? As you head into your 2018 tax planning, this online guide will help you prepare for your particular situation and reap the most benefits under Tax Cuts & Jobs Act (“TCJA”). Whether you are filing as an individual or business, we...
- 11/13/2018
New Jersey Tax AmnestyBy Alan Goldenberg, JD, LL.M., PrincipalNew Jersey will be offering a tax amnesty program to encourage taxpayers with outstanding taxes to pay the taxes they owe. Beginning on November 15, 2018, New Jersey will provide a 60-day tax amnesty program giving taxpayers an opportunity to file and pay past due-taxes with reduced interest and no...
- 11/12/2018
New Nonprofit Liquidity Disclosure – Tips to prepare you for changes to comeBy Marie DeCicco, CPA, PartnerOf all the changes in the new nonprofit financial reporting standard (ASU 2016-14), the Nonprofit Liquidity Disclosure has drawn the most attention and questions. The new standard requires that your nonprofit highlight its liquid assets and add a narrative angle on how it manages liquidity. Specifically, you will need to demonstrate that...
- 11/06/2018
John Tax Named in Long Island Business News' Who's WhoFriedman's John Tax was recently named in LIBN's Who's Who in Accounting. The publication features those in accounting who provide exceptional service to their clients. John is recognized for 20 years of public and 4 years of private accounting experience in the real estate industry. To see the full article, click...
- 11/02/2018
IRS Announces 2019 Limits Affecting Qualified PlansEach year, the IRS announces tax inflation adjustments for the following year. The tax inflation adjustments are based on changes to the Consumer Price Index ("CPI"). Illustrated below are the differences from last year to this year. If you have any questions about this alert, please contact David Waddington or your...
- 11/02/2018
Webinar Recording: 5 Trends Shaping a New Reality for NonprofitsShifts in the technology space are compelling nonprofits and service oriented industries to respond in real time to support their growing needs. We hosted an exclusive webinar in collaboration with Firespring to help you understand and respond to these seismic shifts. Nonprofit Practice Leader, Amish Mehta along with Jay Wilkinson, founder and CEO...
- 10/26/2018
How Brick and Mortar Businesses are Adapting to Compete with E-CommerceBy Michael Stoler, The Stoler ReportContrary to popular belief, the rise of e-commerce hasn’t meant the decline of brick and mortar businesses. Savvy businesses across the nation are successfully adapting their approach to meet the widespread consumer demand for unique, luxury in-house retail experiences. Even the most iconic brands understand a name will only take...
- 10/26/2018
Deconstructing Pass-through Business Income: Planning Opportunity For Rental Property OwnersEight months into the tax year, practitioners and taxpayers anticipated that the Section 199A deduction rules, released recently by the Internal Revenue Service ("IRS"), would provide clarity—especially for rental property owners. Unfortunately, this hasn’t been the case. Many questions are still unanswered. Based on the existing information, our tax advisors identified...
- 10/26/2018
Deferring Capital Gains When Selling Real Estate: Qualified Opportunity Zones vs. 1031 ExchangesBy Steven Bokiess, CPA, PartnerOpportunity Zone Funds, a feature of the 2017 Tax Cuts and Jobs Act (“TCJA”), allow investors significant tax breaks on capital gains by incentivizing investments in qualified low-income communities known as “opportunity zones.” When selling real estate, it’s important to weigh the benefits of investing in a qualified opportunity zone...
- 10/26/2018
Ryan Dudley Featured in ICASFriedman's Ryan Dudley has been featured in an article by ICAS in which he discusses the lack of guidance from the IRS on Foreign Derived Intangible Income (FDII) and the costs and complications associated with an offshore structure. To read the full article, click here....
- 10/24/2018
Ask the CPA - Denise McKnightFriedman's Denise McKnight discusses how to execute an efficient year-end physical inventory count in this edition of Ask the CPA. Denise stresses the importance of being prepared and how you can ensure an accurate and smooth inventory count. See what Denise has to say, here....
- 10/23/2018
Digital Currency 101By Robert Graham, CPA and Joshua Santos, CPATwo of Friedman's digital currency experts, Robert Graham and Joshua Santos, recently authored an insightful article for MicroCap Review Magazine. In this article, they walk you through several critical regulatory and accounting aspects of the digital currency landscape including: Accounting for digital currency Measuring digital currencies at fair market value Planning for income tax...
- 10/23/2018
Ryan Dudley Featured in Law360Ryan Dudley, Practice Leader of Friedman's International Tax Group, was asked for insight on how efforts to combat international tax avoidance are disproportionately affecting smaller businesses compared to large multinationals. To read the full article by Law360, click here....
- 10/22/2018
Kim Dula Featured by NJBizFriedman's Kim Dula was featured in an article by NJBiz on family business and tax planning. In the article, Kim stresses the importance of timeliness in multigenerational tax planning and the effects the Tax Cuts and Jobs Act has on it. To read the full article, click here....
- 10/22/2018
Jerome Glickman Talks Tax Reform's Impact on the NFLJerome Glickman, Director, was recently featured by Bloomberg and Accounting Today in articles on how tax changes have affected NFL teams in high-tax states. "A player for the Miami Dolphins or Houston Texans, where no state income taxes are levied, was always going to come out a whole lot better than somebody...
- 10/19/2018
Who Qualifies for a Business Income Deduction?The recently proposed Section 199A statute has raised many questions, including who may qualify for the new deduction of up to 20% of earned income. As part of the NJBIZ Digital Guide to Year-End Tax Planning Friedman experts, Michael Greenwald and Jo Anna Fellon, help clarify the complex proposal here....
- 10/19/2018
NOL Reform Makes Planning for the Future Even More ImportantThe revised guidelines for Net Operating Loss (NOL) means top earners may not feel the full benefit of tax rate decrease that was a part of the Tax Cuts and Jobs Act. However, Friedman's Karl A. Neulinger and Brian Kristiansen say that consulting a tax advisor before the end of the...
- 10/19/2018
3 Planning Strategies for the New Tax LandscapeThroughout the year, the topic of tax reform has been a hot topic for many business owners and individual taxpayers. While some deductions were repealed, others were introduced. Friedman's tax experts, Jo Anna Fellon and Brian Kristiansen, share 3 planning strategies to help optimize your tax benefits in the 2018 NJBIZ Digital Guide to...
- 10/19/2018
Assessing the Impact of Tax Reform on IndividualsThis year brought about the largest tax reform in 30 years, and many individuals are wondering how these changes may impact them. in the NJBIZ Digital Guide to Year-End Tax Planning, Jo Anna Fellon and Brian Kristiansen share insights on how tax reform affects individual taxes, and why you should learn how these...
- 10/19/2018
5 Key Tax Cuts and Jobs Act ConsiderationsWith the end of 2018 quickly approaching, it is imperative business entrepreneurs assess significant changes under the Tax Cuts and Jobs Act that will impact their overall tax strategy. Friedman's tax expert, Karl A. Neulinger, shares 5 key considerations for the Tax Cuts and Jobs Act in this year's NJBIZ Digital Guide...
- 10/19/2018
How Bunching Helps Maximize the Benefit of Charitable DonationsWhile the Tax Cuts and Jobs Act raised the standard tax deduction, other deductions such as charitable gifts have been limited. Friedman's Scott Testa and Bob Charron share how "Bunching" your charitable gifts will help maximize your tax benefits. Learn more in the NJBIZ Digital Guide to Year-End Tax Planning, here....
- 10/16/2018
Tax Expert Michael J. Greenwald Helps Shape Regulations to Enhance Taxpayer ExperienceFriedman’s advisors are dedicated to delivering excellence in client service, especially when it comes to providing much-needed guidance surrounding changes under the new tax code. Some of our experts take this commitment a step further by helping to shape regulation in the American Institute of CPAs (AICPA), allowing us to...
- 10/15/2018
Are you Personally Liable for Your Company's Payroll Taxes?When a business fails to remit payroll taxes, the IRS has the authority to collect those taxes from “responsible persons,” including certain shareholders, partners, officers and employees. The IRS takes an expansive view of who constitutes a responsible person. Definition of a responsible person In this context, a “responsible person” includes anyone...
- 10/15/2018
Tax TipsTax Tips Alimony deduction is coming to an end The Tax Cuts and Jobs Act (TCJA) eliminates the tax deduction for qualified alimony payments, effective for divorce decrees or separation agreements issued or executed after December 31, 2018. It won’t affect existing arrangements or arrangements finalized before the end of 2018. Currently, alimony...
- 10/15/2018
Further guidance on business meal expense deductions under the TCJAThe IRS recently clarified that the business meal deduction remains allowable in certain circumstances under the Tax Cuts and Jobs Act “TCJA.” As a taxpayer, you can generally continue to deduct 50% of food and beverage expenses if they are related to operating your trade or business. This exclusive Tax...
- 10/15/2018
For Partnerships, The Time to Act is Now: Key Insights for Selecting Your Partnership RepresentativeFriedman’s tax experts have stayed on the pulse of changes surrounding the Centralized Partnership Audit Regime (“CPAR”), enacted as part of the Bipartisan Budget Act of 2015 (“BBA”). Many of you have sought guidance on how and when to act in response to the CPAR, effective for tax years beginning...
- 10/11/2018
Webinar Recording: What the Wayfair Ruling on Sales Tax Means for Out-of-State SellersThe Wayfair Ruling on sales tax overturned the physical presence rule and gives states the authority to impose sales tax requirements on out-of-state sellers based on economic nexus. This landmark decision has far-reaching sales tax implications for all remote sellers as well as traditional brick and mortar businesses who ship...
- 10/11/2018
Tips on How to Avoid the Cyber Security Pitfalls of Big Companies in 2018As companies grow, there is a greater possibility for a growing number of potential cyber attacks. 2018 has proven that even the biggest companies—and government entities— aren’t immune. In October alone, headlines noted the recent Google+ bug, which led to the social network’s closing, Facebook’s disclosure of both a software...
- 10/10/2018
Jake Lehmann Featured in Reuters ArticleManaging Director of Friedman CyZen, Jacob Lehmann, was cited in an article by Reuters regarding the recent Google+ security breach. Over 500,000 GOogle+ users' personal information was exposed in the breach; however, they weren't informed until many months later. Lehmann beleives these users had the right to know sooner about the...
- 10/09/2018
NJBIZ Features Friedman's Expert Advisors in Year End Tax Planning GuideAs the year draws to a close and taxpayers continue to navigate sweeping changes under the Tax Cuts & Jobs Act, our expert advisors empower you with critical insights to inform your decision-making. Sponsored by Friedman LLP, the “Guide to Year End Tax Planning” includes articles featuring six of our...
