Corporate & Business Tax Services

The following article is part one of Friedman’s three-part series discussing must-know aspects of unclaimed property (“UP”), which can lead...

The midterm elections are less than eight and half months away and primary season has already started in many states....

Of the various COVID-19 relief programs enacted by Congress since March 2020, the Employee Retention Credit (“ERC”) is both the...

Which credits are pending extension and how does a recent ruling in an REIT case stand to impact the industry?...

On The Daily Show they say, “When news breaks, we fix it.” We like to follow suit. Since Congress is...

The IRS is offering Schedule K-2 and K-3 exemptions for certain partnerships and S-Corps. Our coverage will help you figure...

In our February 11 issue of This Week In Tax, we told you that your business tax return just got...

Note: This article was originally published on February 11, 2022. As of February 17, 2022 the IRS has since revised their...

Even though the tax return filing deadlines are still over 9 weeks away (just under 5 weeks for partnerships and...

This week, California Governor Gavin Newsom signed into law Senate Bill 113 which provides a much needed fix to the Elective Pass-Through...

Just when you thought it was safe to go back in the water, another perilous tax season is upon us....

Move over Hollywood — the entertainment industry isn’t necessarily centered in California anymore, and the Garden State is ready to...

Special-purpose acquisition companies (SPACs), often referred to as “blank-check” companies, raised more than $94.4 billion last year and shattered 2020’s...

Probably all of us at one time or another have leaned back in our chairs while sitting in a movie...

William Shakespeare’s Juliet thought that a name was arbitrary or irrelevant. Apparently, IRS Chief Counsel agrees, at least when it...

Not long ago we wrote about a case involving the so-called “hobby loss” rules and how a taxpayer was able to...

Happy New Year and welcome back! This week, two recent cases illustrate the steps you can take to ensure your...

In addition to the medical and sociological implications of the COVID-19 pandemic, the economy has been hard-hit by supply chain...

*Note: In recognition of our employees incredible hard work this year, Friedman LLP will be closed from Friday, December 24...

Keeping with the spirit of the season, the IRS has now granted victims of Hurricane Ida an additional 43 days...

As 2021 winds down and Congress continues to wrestle with the Build Back Better Act (“BBBA”), you should be aware...

As 2021 draws to a close and we await a possible Christmas Eve present from Congress in the form of...

With our sights set to the holiday season and 2022, read our latest on recently published guidance and FAQs covering...

Beginning January 10, 2022, Identify Protection Personal Identification Numbers (IP PIN) will be available through the Internal Revenue Service’s (IRS)...

Note: This article was originally published on October 5, 2021, and was updated on November 1, 2021. In a case of...

Given the rapid proliferation of new tax legislation, the IRS has been relying on issuing so-called Frequently Asked Questions (“FAQs”)...

Extra! Extra! Read all about it! Certain self-created know-how may still qualify for favorable capital gains tax treatment! Effective 2018,...

This Week In Tax: The IRS is formalizing its process relating to the publication of FAQs — find out how the...

After a tumultuous 2020, “uncertainty” remains the watchword, especially when it comes to tax planning. The shift in Washington and...

New this week: Q Texas court sets a high price in a case involving a business alter ego. The High Cost of...

Taxpayers often establish business entities to shield themselves personally from liabilities of the business. The laws of different states provide...

Hurricane Ida may be gone but the damage she inflicted and the emergency conditions she created will remain for some...

To Virgil, “the greatest wealth is health.” Borrowing from the Roman poet, the American Rescue Plan Act of 2021 (“ARPA”)...

On April 19, 2021, New York State (“NYS”) Governor Andrew Cuomo signed the 2021-2022 budget bill, which includes the highly anticipated “Pass-Through...

On April 19, 2021, Governor Andrew Cuomo signed New York State's fiscal-year 2021/2022 budget bill (S.2509-C/A.3009-C). The comprehensive budget legislation includes several changes to...

Should an employer pay for items that their employees need in order to perform their duties remotely, the employer can...

Prepare your business for significant dates surrounding Paycheck Protection loan applications, Shuttered Venues Operator Grants and Restaurant Revitalization Fund Grants...

Find out how you can take advantage of the recently extended Employee Retention Credit (ERC) to offset employee costs and...

Despite continued reassurances that the IRS could handle all of the recent COVID-19 related stimulus — including another round of...

The American Rescue Plan Act of 2021 (the “Act”) is the most extensive COVID relief bill yet. Its provisions are...

While we were all busy watching the IRS try to pivot for the changes to the Employee Retention Credit, the...

In December, Congress passed the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the “Relief Act”) which was enacted...

The CARES Act passed last March contained a number of important stimulus provisions. Among these were the Paycheck Protection Program...

The initial attention generated by the Consolidated Appropriations Act, 2021 (“the Act”) focused on the economic relief provisions – enhancement...

Like college students right before winter break, the 116th Congress closed its term with one last all-nighter. And, while the...

We are thrilled to announce that Carol S. Messman, CPA has joined Friedman as a Tax Partner. Carol brings more...

As most of you are aware, the incoming Biden administration has put forth a tax plan that could have meaningful...

The Paycheck Protection Program (“PPP”), passed as part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), was...

Over the course of the Paycheck Protection Program (“PPP”), the Small Business Administration (“SBA”) has released guidance in the form...

Friedman is proud to announce that state and local tax specialist Christian Burgos, Esq. joined the firm as Managing Principal...

During these unprecedented times, wise tax planning can provide much-needed financial relief to individuals and businesses. To help you make...

How Will the Presidential Election Impact Your Business Taxes? Watch today's segment, featuring emcee Michael Greenwald and guest speaker Robert Charron...

It has been six weeks since we last heard from the SBA and Treasury with regard to Paycheck Protection Loan...

In a departure from its previous practice, the Small Business Administration (“SBA”) chose to release its latest update – clarifications...

It’s been a busy week for those of us involved with the Paycheck Protection Program (“PPP”). Late Tuesday evening, the...

Access the recording from our recent Q and A session with our experts on Congress’s newly passed Paycheck Protection Program Flexibility...

Acknowledging that all gave some and some gave all, allow us to take a moment to thank those of you...

Watch our recent “New Guidance on PPP Loan Forgiveness” webinar where our experts discussed the Small Business Administration’s recently released...

Fortunately, borrowers now have official guidance regarding Paycheck Protection Program (“PPP”) loan forgiveness in the form of an application with detailed...

The Small Business Administration (“SBA”) has released additional guidance attempting to clarify how it will view the good faith certification...

On May 13, the SBA released an Interim Final Rule (“IFR”) which will enable certain partnerships that applied for Paycheck...

[This article was updated on April 29 to reflect the IRS’ §7520 for May 2020] While it is worrisome to watch...

Our experts recently shared ways that professionals in the dental industry can benefit from the Coronavirus Aid, Relief, Economic Security Act...

On April 24, the Small Business Administration (“SBA”) and Department of the Treasury published a Q&A outlining how businesses of...

Small business owners across America are struggling to keep their workers employed and their businesses alive. In response, the U.S....

The elimination of familiar tax planning strategies under the Tax Cuts & Jobs Act (TCJA) in addition to potential changes...

Watch Partner and Business Entity Tax Practice Leader, Michael Greenwald's recent presentation at "Paths to Liquidity and Diversification," where four firms...

Corporate and Business Tax Practice Leader, Michael Greenwald, recently spoke with Forbes on Deferred Sales Trusts. Greenwald says that a required...

Check out the highlights from our 2nd Annual South Jersey Business Leadership Forum! The event featured an array of speakers including;...

Watch the second episode in this exclusive series featuring Steven Bokiess, CPA, Partner for ways to reap tax advantages by investing...

Concerned how the latest tax developments may impact your 2018 tax strategies? As you head into your 2018 tax planning, this...

When a business fails to remit payroll taxes, the IRS has the authority to collect those taxes from “responsible persons,”...

The Internal Revenue Service ("IRS") recently released the highly anticipated proposed regulations for the Section 199A deductions — allowing for...

Gain the knowledge you need to reap tax benefits and avoid pitfalls in the wake of the most significant overhaul to...

By now, you’ve seen media headlines covering the House Tax Reform Bill introduced on November 2. What you may not...

As Washington takes up the mantle of tax reform, Friedman LLP proudly releases a timely study featuring insights gleaned from a...

The White House released its promised tax reform agenda, known as the “September Framework.” While longer than the previous version,...

Concerned how tax proposals may impact you and your business? Learn how other business leaders would react to tax reform...

In May, as the last of the cherry blossoms fall in our nation’s capital, Congress will begin its final session...

As Washington takes up the mantle of tax reform, Friedman LLP proudly releases a timely series of insights gleaned from...

For most businesses, the likelihood of being audited by the Internal Revenue Service (IRS) is less than 2%, but ask those who have been through one and the response is always the same – it is a long, gut-wrenching process, no matter how good your records are.

Partner Michael Greenwald was recently featured on Fox 5 News discussing the pitfalls of leaving money on the table during...

Real estate transfer tax is a tax imposed by states, counties and municipalities for the privilege of transferring real property within a jurisdiction. The tax is sometimes referred to as real estate conveyance tax, mortgage transfer tax or documentary stamp tax, among other terms.

Parties to merger and acquisition (M&A) transactions involving closely held corporations may enjoy certain tax benefits if they can allocate a portion of the purchase price to individual shareholders’ personal goodwill. Although the IRS doesn’t much like personal goodwill, a recent Tax Court case (see the sidebar "Personal goodwill is alive and well") confirms that it remains a viable tax-planning tool under the right circumstances.

The New York State and New York City tax laws have numerous traps for unwary nonresidents. To avoid one of the biggest tax hazards, nonresidents owning or renting homes within New York must be aware of the applicable residency tests and what records they should maintain to avoid a dual residency determination. Nonresidents of New York State are only taxed on income earned in or sourced to the state. New York City only taxes city residents. However, if a nonresident is not attentive to the residency tests, the tax consequences can have New York State, and possibly New York City, seeking to impose tax on all income, including interest, dividends, and capital gains, regardless of its source.

A good tax-planning technique is to sell a poor-performing security to “harvest” the loss and offset it against your capital gains. But what if you have high hopes for the security and would like to keep it in your portfolio?

Tune in to an interactive and lively discussion on the newly released IRS Employee Retention Credit guidance and the new...

Friedman is a proud sponsor of the 2020 PACT Capital Conference. This conference has a long tradition of uniting key...

Join us for an exclusive webinar where our experts will walk you through the Small Business Administration’s (SBA) recently released...