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  • 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...

  • 08/23/2017
    Ask the CPA
    By Mark A. Nicastro, CPA, MST, Partner

    Q: My employer is offering incentive stock options. How will I be taxed on my federal return?

  • 08/23/2017
    Friedman LLP Featured in an Exclusive Tax Article on Vice.com

    Vice.com featured David Shuster JD, LLM, Director at Friedman LLP in look at America’s tax system and the impact of budget cuts on the IRS. For the full feature, click here....

  • 08/17/2017
    State Tax Alert: MTC offers limited-time Voluntary Disclosure for Marketplace Sellers
    By Alan Goldenberg, JD, MBA, LLM

    News for online marketplace sellers in participating states: beginning August 17, 2017 through October 17, 2017, the Multistate Tax Commission (MTC) is offering a limited-time voluntary disclosure initiative. Relief provided under the program applies to sales and use tax and income/franchise tax. Read below for how you can benefit from...

  • 08/16/2017
    Friedman LLP in an Exclusive Wharton School Interview on “The Real Estate Hour”

    Bruce S. Marks CPA, MST, Partner at Friedman LLP was featured in an exclusive interview segment on “The Real Estate Hour,” on Business Radio powered by the Wharton School at SiriusXM Channel 111. Marks shared his expert real estate insights with host Bob Lane, partner at the law firm of...

  • 08/08/2017
    Friedman LLP Ranked as a 2017 IPA 100 Firm by INSIDE Public Accounting

    Friedman LLP is proud to announce that the firm has once again been honored as an Inside Public Accounting (IPA) 100 Firm for 2017. This marks IPA’s 27th annual ranking of the largest accounting firms in the nation. IPA 100 firms were ranked by U.S. net revenues and compiled after...

  • 08/08/2017
    Persistence Pays Off

    Export Financing In The Time Of Trump

  • 08/08/2017
    Mann Charitable Foundation teeing off in tribute to 9/11 victims and for research fundraiser in Lake Success

    On September 11th, the Mann Charitable Foundation will host its 10th annual golf outing at Fresh Meadow Country Club in Lake Success in commemoration of 9/11 victims and to fundraise for disease cure research. Bruce Madnick, Chief Executive Officer Emeritus, will be honored. For more information, click here....

  • 08/08/2017
    15 Years Later, Does SOX Still Matter?

    Since the Sarbanes-Oxley Act (SOX) was signed into law on July 30th, 2002 it has transformed the public accounting arena. Today, its changes are considered standard features of any worthwhile audit. However, nearly a decade and a half later, lawmakers and business leaders question its legacy and seek to roll...

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

    A Pulse Check on Tax Reform Proposals

  • 08/07/2017
    Bitcoin Investors Must Report Gains to the IRS

    As cryptocurrency moves full steam ahead to the forefront and more investors jump aboard, now is the time to be aware of the tax issues.

  • 08/03/2017
    3 Ways to Use Life Insurance While You're Still Alive

    Unlock the value of your policy now with these key strategies.

  • 08/03/2017
    Amazon-Like Marketplaces Taxed Under Pennsylvania Proposal

    The Pennsylvania Senate narrowly approved a proposal that would generate $43.5 million by requiring internet marketplaces like Amazon.com Inc., Etsy Inc., and Ebay Inc., to collect a 6 percent sales tax on third party sales facilitated through their platforms. Learn how the proposal could impact the e-commerce landscape with insights...

  • 08/02/2017
    Friedman Named One of Accounting Today’s Best Accounting Firms to Work For

    Friedman LLP is proud to announce that once again the firm has been named a Best Accounting Firm to Work For by Accounting Today for 2017. The annual survey and awards program, which is conducted in partnership with Best Companies Group, identifies, recognizes and honors the best employers in the...

  • 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...

  • 07/27/2017
    A Crash Course in Starting Your Own Small Business

    From choosing a business structure to hiring employees, nine key steps to success for any entrepreneur launching a business

  • 07/24/2017
    Ask the CPA
    By Maddy Vescovacci, CPA, CFF, CFE, MFA

    Is my internal control system designed to prevent online fraud?

  • 07/20/2017
    Friedman LLP Promotes Three to Director

    Friedman LLP is delighted to announce the promotion of three professionals to director, effective July 1, 2017. Reflective of the depth and breadth of Friedman's services, these accomplished professionals specialize in a wide array of areas. They are based in our New York City, Long Island and Philadelphia offices. Kimberly Iaconelli,...

  • 07/18/2017
    What marriage-phobic millennials mean for the wedding-ring industry

    Millennials that shop online are starting to include diamond engagement rings in that list. But as brick-and-mortar jewelry stores decline, can the online sales catch up? Harriet Greenberg sat down with Market Watch to discuss the millennial influence on wedding ring sales. To watch the full video, click here....

  • 07/17/2017
    Friedman LLP Launches First Annual Day To Give Back

    Whether swinging hammers to build homes for the needy, packing canned goods for hunger relief or caring for shelter animals, employees of Friedman LLP Accountants and Advisors will step out of the office on Wednesday July 19th to engage in a firmwide day of coordinated volunteer activities. For the 1st annual...

  • 07/13/2017
    Technology’s double-edged sword: For forensic accountants, technology can help crack cases — or lead to new ones — but can also be a hindrance if misused by clients

    There was a time when clients would depend on forensic accountants to be the sole provider of information they need. Today most clients and prospects have access to the internet and are just a click away from being a pseudo-expert on forensic accounting. Susan Miano, partner and FLVS expert, was...

  • 07/13/2017
    Good times, bad news: When a company is flush with cash and the economy is thriving, that can be the time to call in the forensic accountants for a checkup

    Even with the economy still riding high, and unemployment at its lowest lows, there's one constant that's not a reason for celebration: Human nature. Randall Paulikens was quoted in NJBiz discussing why companies should work with forensic accountants despite strong economies and high revenues. To read the full article, click...

  • 07/05/2017
    Ask the CPA
    By John J. O'Donnell, CPA, CFF, CFE, CVA

    Q: Are you thinking about buying a business or merging your business into another? Have you considered hiring a forensic accountant to conduct the due diligence?

  • 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...

  • 06/21/2017
    More Empty Storefronts Plague Uptown Than Other Parts of City, Report Says

    Of the hundreds of empty storefronts plaguing Broadway from Battery Park to Inwood, almost a third are located uptown, according to a report from the Manhattan Borough President's Office. There are 188 vacant street-level storefronts along Broadway, with 55 of those located north of 155th Street. Senior Tax Manager Alan...

  • 06/14/2017
    Time Out!

    It’s a fact: Employees who participate in flexible workplace programs at work – like telecommuting and flexible hours – are happier, less burned out, and are more productive than those who don’t participate. Lindsay Gaal was quoted in Mid Jersey Business discussing Friedman’s Alternative Work Arrangement Program and helping employees...

  • 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...

  • 06/08/2017
    Sino Fortune Holding Corp. Announces Change of Auditor

    Sino Fortune Holding Corporation a leading online financial credit facility solution provider servicing SME and individual borrowers in China, announced the appointment of Friedman LLP as the Company's independent registered public accounting firm, effective June 1, 2017. For more information, click here....

  • 06/08/2017
    Tag it to Flag it—Using UTM Codes to Capture Campaign Results

    Is marketing measurable? What results do we get from the firm’s marketing initiatives? With the array of digital tools now at our disposal, marketers can effectively answer these questions and more. Chief Marketing Officer Jill Jacobs contributed an article to Growth Strategies on using UTM tags to measure results and...

  • 06/06/2017
    First 100 Days: The bottom line — Changing the tax code isn’t as easy as it sounds

    Michael Greenwald joined a panel of experts for an NJ Biz event focusing on tax reform and the first 100 days of the Trump presidency. The event recap was featured on NJ Biz. To read the full article, click here....

  • 06/06/2017
    Friedman Named One of Inc.’s Top 50 Best Workplaces

    Friedman LLP is proud to have ranked in the Top 50 of Inc. Magazine’s Best Workplaces for 2017. “Friedman recognizes that meeting the needs of our people must be a priority if we want to successfully serve our clients.” To learn more, click here....

  • 06/01/2017
    Fostering Fintech

    As protecting data becomes an increasing area of focus, firms are adding cybersecurity to their due diligence protocol to fill knowledge gaps around a target firm’s past and mitigate risk ahead of a merger or acquisition. Kevin Hyams was quoted in Fund Technology discussing cybersecurity due diligence. To read the...

  • 06/01/2017
    U.S. Tax Court Ruling in Employee Misclassification Case

    IRS must reveal workers’ tax return information in misclassification case A recent unanimous ruling by the U.S. Tax Court could make it easier for employers whose workers have been reclassified as “employees” by the IRS to avoid income tax liability for the workers’ earnings. The ruling allowed an employer access to...

  • 05/30/2017
    Ask the CPA
    By John Chipperfield, Senior Manager

    Q: We know the new revenue recognition principles are on the horizon. Why are they being changed and what should we do?

  • 05/30/2017
    Hill Briefs: Tax Hearing Witnesses; previous Expensing Bill
    By Colleen Murphy, Laura Davison and Kaustuv Basu, Bloomberg BNA

    As seen in Bloomberg BNA

  • 05/30/2017
    New Audit Powers Mean New Liabilities For Partnership Reps

    Forthcoming IRS regulations are expected to grant broad powers to those representing partnerships during audits, but these added capabilities could expose representatives to new risks, liabilities and potential misconduct claims from partners. Michael Greenwald was quoted in Law360 discussing new IRS regulations that would affect partnership representatives during audits. To...

  • 05/25/2017
    Finding Balance as a Parent, Employee and CPA Candidate

    Balancing a family while working in a demanding industry can be difficult. Senior manager, Melissa Allen penned an article for the NJCPA discussing her journey with balancing life and work while also being a CPA candidate. To read the full article, click here....

  • 05/25/2017
    3 Ways to Be a Leader for Your Company's Culture

    Every charity drive, company picnic, sports team and holiday party is a chance to step up and demonstrate leadership in a way that benefits the whole company. Bruce Madnick was quoted in Fortune discussing taking initiative as a way to be a leader for your company. To read the full...

  • 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....