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  • 06/24/2019
    Crain's Names Friedman Professional a Real Estate Rising Star

    On June 24, Crain’s New York Business published its inaugural list of Real Estate Rising Stars and named Friedman’s Steven Fischer, a Senior Audit Manager, among its honorees. The special feature celebrates the “knowledge, skills, integrity, accomplishments and contributions” of professionals with fewer than 10 years of experience in the...

  • 06/20/2019
    CyZen Wins First Place in Website Category for LIBN's Long Island Digital Awards

    On June 13, members of CyZen’s team gathered at the Mansion at Oyster Bay for the second annual Long Island Digital Awards (LIDA). Following an exciting evening of networking among regional leaders, CyZen was called to the stage to accept first place in LIDA’s website category! Learn more here!...

  • 06/20/2019
    The Cap on State and Local Tax Deductions Is Driving High-Tax State Residents Out

    Friedman's Alan Goldenberg recently sat with Fox Business to discuss the widespread impact the cap on state and local tax (SALT) deductions has had on high-tax states such as New York, New Jersey and California. Goldenberg said, "it took a few months for taxpayers to realize the dollar implications - until...

  • 06/19/2019
    Michael Greenwald on Deferred Sales Trusts

    Corporate and Business Tax Practice Leader, Michael Greenwald, recently spoke with Forbes on Deferred Sales Trusts. Greenwald says that a required Nondisclosure Agreement excites his skepticism about the efficacy of such plans. Click here to read the full article!...

  • 06/18/2019
    IRS Bars SALT Deduction Workarounds

    As expected, the IRS on Tuesday put the kibosh on state programs designed to help taxpayers circumvent the newly imposed $10,000 federal limitation on the state and local tax (“SALT”) deduction. The final regulations come after the Treasury Department issued proposed regulations on the topic last August. Under the new federal...

  • 06/18/2019
    An Enlightened Approach to Cyber Protection: Full Event Recording

    In today’s digital world of emerging cyber-threats, it is increasingly difficult to know the right steps needed to protect your business. Cybersecurity expert, Jake Lehmann, shares practical guidance to strengthen your business's security posture and help your organization achieve peace of mind and defend against attacks. What we'll cover: Assessment of the...

  • 06/17/2019
    Ask the CPA - Shaji Varghese

    In this edition of "Ask the CPA," Shaji Varghese, Partner in our Public Company Services Group shares how the SEC's changes to reporting standards may affect company stakeholders. Click here to read more!...

  • 06/17/2019
    Brave the Shave

    On July 10, Friedman Gives Back, our employee-inspired philanthropy initiative, will co-host a first-of-its-kind charity event in collaboration with Michael Saccomanno, a partner in Friedman's Forensic Accounting, Litigation Support & Valuation Services (FLVS) group. Michael created this event in gratitude for the profound community support he received while recovering from his...

  • 06/14/2019
    International Tax Alert: Withholding Tax on Sales of Partnership Interests by Foreign Person(s)

    The Tax Cuts and Jobs Act (“TCJA”) imposed tax on gains derived from the disposition of interests in partnerships carrying on a US trade or business. To enforce this new regime against foreign partners, the TCJA also introduced a new withholding tax regime, Section 1446(f). Under this withholding regime, the purchaser...

  • 06/13/2019
    Two Friedman Professionals Honored by NJCPA at 2019 Ovation Awards

    On June 12, Friedman Partner Audrey Sherrick and Senior Tax Manager Danielle Dvorak were honored with Ovation Awards at NJCPA’s annual convention in Atlantic City. The Ovation Awards showcase the work of “superstars whose exemplary efforts and stellar achievements are advancing New Jersey’s accounting profession.”...

  • 06/12/2019
    States Lose Fight Against SALT Deduction Cap

    Since the 2017 Tax Cuts and Jobs Act, New York, New Jersey and Connecticut have been fighting against a cap on state and local tax deductions. While Connecticut and New York have a workaround to these changes, Friedman's Tom Corrie told Bloomberg, "not many companies are willing to jump in." Read...

  • 06/12/2019
    High-tax States SALT Workarounds with Alan Goldenberg

    This week the Treasury Department shot down a strategy high-tax states adopted to help ease the effects of the $10,000 SALT cap on residents, however their are some other strategies that some can still take advantage of. Friedman's Alan Goldenberg discussed these strategies with Fox Business, and you can view the full article...

  • 06/10/2019
    Friedman LLP Awards Entrepreneurship Scholarship to Fashion Institute of Technology Student for Fifth Consecutive Year

    For the past five years, Friedman LLP has supported the endeavors of one exceptional student who is enrolled in the Fashion Institute of Technology’s (“FIT”) undergraduate entrepreneurial program. Friedman awards the Entrepreneurship Scholarship each year to an FIT student enrolled in the two-year Entrepreneurship program. This year, the firm recognized, Marisol...

  • 06/10/2019
    Nonprofit Webinar Recording: Keys to Drive Your Mission's Success

    Missed our recent webinar on the New Nonprofit Reporting Standards? Don't worry, you can still tune into the webinar to tap into valuable insights for your nonprofit! Click "Watch Webinar" above to get started....

  • 06/07/2019
    Unraveling the Layers of 163(j): Insights for Your Real Estate Business

    For more than a year, owners of real estate businesses have debated whether it’s beneficial, or not, to elect out of the proposed rules for interest expense limitations under section 163(j) of the Tax Cuts & Jobs Act (“TCJA”). Under this provision, a taxpayer may not deduct business interest expense for...

  • 06/07/2019
    Philadelphia Use and Occupancy Tax
    By Stuart A Katz, CPA, MST

    Since the financial crises of the late 2000s, out-of-town developers and institutional funds have flooded Philadelphia to capitalize on real estate opportunities. However, few out-of-state developers knew about the city’s hefty and rather confusing School District Business Use and Occupancy tax—also known as “U&O.” This article takes a closer look...

  • 06/07/2019
    “Strong Island” City Perseveres Without Amazon
    By Michael Stoler

    Last Valentine’s Day, Amazon broke a few hearts after announcing that they would no longer establish their headquarters in Long Island City. Many falsely believed this announcement would have a deleterious effect on this otherwise thriving neighborhood, just a short subway ride from Manhattan. However, to quote Mark Twain, “The...

  • 06/04/2019
    Tax Protocol for New York Marketplace Providers and Sellers

    Marketplace providers (i.e., Amazon and EBay) with taxable sales into New York must collect and remit sales tax once they meet the same sales thresholds as remote sellers, the state tax department said in newly issued guidance. In a May 31 technical memorandum, the Department of Taxation and Finance stated that...

  • 06/04/2019
    CyZen Blog: Prioritizing Cybersecurity in Your Real Estate Business

    As smart cities continuously evolve to stay ahead of demand, owners and developers adapt by rapidly digitizing their buildings and transactions. Currently, there is no federal law requiring real estate businesses to implement information security programs—leaving multi-party transactions, credit reports, building automation systems ("BAS") and leasing agreements vulnerable to attacks. Whether...

  • 06/03/2019
    Friedman LLP Relocates NYC Office to One Liberty Plaza

    New working space boasts latest amenities and technology

  • 05/31/2019
    Potholes in the Qualified Parking Expense

    Internal Revenue Code Section §274(a)(4), is one of the many provisions that were amended under the Tax Cuts & Jobs Act ("TCJA"). Notably, this revision created a cavity in the dispensation for employers to deduct “qualified parking.” The IRS has since released Notice 2018-99 to help employers determine the extent...

  • 05/31/2019
    Steer Clear of Allocation Traps Created by the GST Tax

    The Tax Cuts and Jobs Act ("TCJA") doubled the generation-skipping transfer ("GST") tax exemption to $10 million beginning last year. The exemption is adjusted annually for inflation (for 2019, the exemption amount is $11.4 million). While most families won’t be affected by the tax, beginning in 2026 the GST tax...

  • 05/31/2019
    A Guide to the IRS’ Recent Proposed Regulations for Qualified Opportunity Funds

    Under the Tax Cuts and Jobs Act ("TCJA"), Congress sanctioned qualified opportunity zones ("QOZs") as a tax incentive to promote investment in low-income communities. Specifically, when investors put capital into a QOZ they may defer, reduce or remove taxes on certain capital gains. The IRS released its first round of guidance on...

  • 05/31/2019
    Is Your Partnership Ready for the New Audit Rules?

    The Bipartisan Budget Act of 2015 established a new “centralized audit” regime for partnerships, including LLCs taxed as partnerships. Although the new audit rules apply to partnership tax returns for tax years beginning after 2017, the IRS didn’t finalize regulations on these rules until December 2018. However, there’s good news....

  • 05/29/2019
    U.S. Issues Regulations on Base Erosion and Anti-Abuse Tax
    By David Slemmer, Director of Transfer Pricing

    On December 13, 2018, the Internal Revenue Service (the “IRS”) and the Treasury Department issued proposed regulations (the “Proposed Regulations”) on the Base Erosion and Anti-Abuse Tax (“BEAT”) under section 59A of the Internal Revenue Code. BEAT is a new minimum tax imposed on large corporations that make deductible payments...

  • 05/24/2019
    Toolkit for New Nonprofit Reporting Standards: Keys to Drive Your Mission's Success

    Your nonprofit's mission is too valuable to be impeded by speed bumps in the new accounting pronouncements. Our nonprofit tax and accounting experts have compiled leading resources to help your organization prepare and thrive in this ever-changing and complex environment. Tune into our recent May 21 webinar above, or download for on-the-go reference. Include...

  • 05/24/2019
    Carl Bagell on Tax Law Frustrations

    Carl Bagell, Managing Partner of Friedman's Southern New Jersey office, recently spoke with NJBIZ on the challenges and uncertainties of this tax season brought about by last minute changes and a lack of guidance on the Tax Cuts and Jobs Act (TCJA). "The 2018 tax year filings were our most difficult ever. We've...

  • 05/23/2019
    Nonprofits and Cybersecurity: Recognize the Risks and Leverage the Resources

    Equifax. Yahoo. Marriott. Large scale data breaches only affect large, well-known, for-profit organizations, right? Unfortunately, as The Utah Food Bank and Save the Children can attest, malicious actors can and will target nonprofits. You may expect that nonprofit status would deter cybercriminals, but, like the “sticky bandits” of the Home Alone...

  • 05/20/2019
    Donald Logan featured in IDG Connect's CIO Spotlight

    Friedman's Chief Information Officer, Donald Logan, was recently featured in IDG Connect's CIO Spotlight, in which he shares a multitude of highlights in his childhood, career path and future projects. Don explains that Friedman's most significant initiatives include cloud, automation and business intelligence systems. To learn more about Don, click here!...

  • 05/16/2019
    Cybersecurity Techniques to Keep Your Grounded Against the Winds of Change

    Like any living environment, your cybersecurity ecosystem must evolve and adapt to defy emerging threats. Read CyZen's four powerful techniques to protect your valuable assets for the long haul.  Read On!...

  • 05/16/2019
    Ask the CPA - Jerome Glickman

    In this edition of "Ask the CPA", Jerome Glickman, shares the best way to maximize your social security benefits as a married couple. "In most instances, if at least one spouse is in good health, you may make the most of your benefits if the higher earner delays collecting their benefits until age...

  • 05/14/2019
    South Jersey Business Leadership Forum Video

    Check out the highlights from our 2nd Annual South Jersey Business Leadership Forum! The event featured an array of speakers including; guest speaker Stanley Middleman of Freedom Mortgage, CyZen's Jake Lehmann, Corporate and Business Tax Practice Leader Michael Greenwald, and FLVS Group Member Michael Saccomanno. ...

  • 05/13/2019
    Kim Dula Talks with Executive Leaders Radio

    Managing Partner of Friedman's Philadelphia office, Kim Dula, recently spoke with Executive Leaders Radio, the #1 business weekly radio show in the Mid-Atlantic. In the interview, Kim highlights events in her life that inspired her to become the great leader that she is today. Kim shares how family values and...

  • 05/09/2019
    Susan Miano to be Honored at Mann Charitable Foundation's Annual Leading Ladies Event

    Susan Miano, Partner in Friedman's FLVS Group, will be honored at The Third Annual Mann Charitable Foundation Leading Ladies Event! This celebration honors the foremost women in the apparel, real estate, hedge fund, accounting, law and banking fields. The Mann Charitable Foundation was founded 20 years in memory of Marion and Irving Mann. Its...

  • 05/09/2019
    Friedman Celebrates Second Annual Employee Superlatives

    On May 2, Friedman's employees gathered from across regional offices to celebrate the close of the 2019 tax season at the Chelsea Piers Lighthouse, overlooking the Hudson River. Friedman employees cast their vote to honor notable individuals across unique categories as part of Friedman’s Superlative Awards. Sponsored by Friedman's Women's Development...

  • 05/08/2019
    IRS Campaign Shifts the Focus to Transfer Pricing

    The IRS Large Business & International (“LB&I”) division recently announced three new compliance campaigns affecting transfer pricing. The goal of LB&I’s new campaigns is to improve return selection, identify issues representing non-compliance risks and ensure the efficient use of limited resources. The compliance campaigns are:  Captive Services Provider Campaign – This campaign concerns arm’s length...

  • 05/07/2019
    Adnan Islam Certified as Taxation Law Specialist by State Bar of California

    On May 1, Adnan Islam was admitted by the State Bar of California as a certified specialist in the field of Taxation Law. The State Bar Legal Specialization program enables professionals with preeminent capabilities and deep experience in particular areas of law to qualify their expertise by earning the designation of certified specialist. The...

  • 05/01/2019
    Friedman Welcomes International Tax Practice Director

    David Slemmer joined Friedman's New York office as a Director in the firm's International Tax Practice with a specialized focus in the area of transfer pricing. He brings more than 20 years of experience evaluating and planning projects for large multinational companies as well as mid-market businesses across several industries....

  • 04/26/2019
    IRS Issues Updated Opportunity Zone Guidance

    Michael Greenwald, a member of Friedman's Qualified Opportunity Zone ("QOZ") Practice, discussed recent updates from the IRS on Opportunity Zones with Commercial Porperty Executive. Michael says the IRS took "tax-payer" friendly positions on the qualified asset and gross income tests. However, the IRS will release a third round of guidance in the future which...

  • 04/24/2019
    Ask the CPA - Jack O'Donnell

    Do You Know the True Value of Your Business?

  • 04/18/2019
    Friedman Voted Number One in Six Quality of Life Categories and Number 10 Top Firm in 2020 Vault Rankings

    Friedman is proud to announce that we were voted number one across six quality of life categories and ranked number 10 in Vault's Accounting 50 for the 2020 Vault Rankings. Notably, the featured quality of life categories include: Culture Hours Relationships with Supervisors  Satisfaction  Travel Requirements Work/Life Balance  The Vault Accounting Survey questions assess accountants’ perceptions of...

  • 04/15/2019
    Friedman Named One of Accounting Today’s 2019 Top 100 Firms

    10th Among its "2019 Regional Leaders" for the Mid-Atlantic Region

  • 04/09/2019
    Harris Devor Recognized as Centennial Honoree

    Temple University Fox School of Business

  • 04/03/2019
    Bob Charron Discusses Tax Reform Impact with Fortune

    Tax Practice Leader, Bob Charron was recently interviewed by Fortune about how changes to the tax code have affected individual tax players and businesses. While a lot of Americans expected a higher return this year, many were caught off guard when they received a much smaller check or even worse -...

  • 03/29/2019
    Tax Cuts & Jobs Act: Changes to the Kiddie Tax
    By By Jonathan Curry-Edwards, CPA, Principal

    The Tax Cuts and Jobs Act (“TCJA”), passed in December 2017, changed how certain children are taxed on their unearned income -- also known as the "Kiddie Tax." Prior to TCJA, a child who had not turned 18 years old or a child whose earned income did not exceed half of...

  • 03/29/2019
    Friedman Cybersecurity and Digital Currency Experts to Speak at Crypto Invest Summit

    New York — March 26, 2019 — Friedman is a proud sponsor of the 2019 Crypto Invest Summit. Steve Baum, Principal in Friedman’s Digital Currency Practice Group and Eric Freeman, CyZen's Lead Security Engineer, will share key insights on the Storage and Custody Solutions panel. Head here to learn more about this...

  • 03/28/2019
    Exploring the Four Categories of Non-business Interest

    The Tax Cuts and Jobs Act has made a significant impact — both directly and indirectly — on the deductibility of interest expense. This article explores four categories of nonbusiness interest: qualified residence interest, investment interest, qualified student loan interest and personal interest.  Matters of interestWhen are interest payments deductible? The Tax...

  • 03/28/2019
    Outlook from the Inside: Cybersecurity Risk Factors for Real Estate

    CyZen's Managing Director, Jake Lehmann, and other players throughout the real estate industry share their thoughts on top cybersecurity threats facing real estate organizations at a recent forum hosted by Friedman LLP. Learn more about how CyZen's cybersecurity experts can bring peace of mind to your real estate organization. ...

  • 03/28/2019
    New Site. New Brand. Same Great Cybersecurity.

    Cybersecurity + Zen, Your security, enlightened.

  • 03/27/2019
    Outlook From The Inside: Key Tax Reform Updates Impacting You and Your Business

    Corporate and Business Tax Practice Leader, Michael Greenwald, shares the significant changes to the tax code brought along by the Tax Cuts and Jobs Act. Watch the video below to learn about the new pass-through business deduction and more! ...