On November 2, 2017, the House of Representatives released a draft tax reform bill titled the “Tax Cuts and Jobs Act.”  The bill would reduce individual and business tax rates, would modify or eliminate a variety of itemized deductions as well as repeal the estate and alternative minimum taxes, and would change the taxation of […]

In 2016, Governor Cuomo signed into law the nation’s strongest and most comprehensive Paid Family Leave policy. Starting January 1, 2018, the New York State Paid Family Leave Act (PFLA) will provide New Yorkers job-protected, paid leave to bond with a new child, care for a loved one with a serious health condition or to […]

There is a high probability that you were impacted by the Equifax data breach. The breach, which is estimated to have impacted 143 million Americans – nearly half the US population – is considered one of largest data breaches in history. Let's Get Some Facts out There: What is Equifax? And why do they have […]

U.S. Treasury Secretary Steven Mnuchin said on August 31, 2017 that President Donald Trump’s administration has a detailed plan on tax reform and is on track to get it through Congress by year-end. President Trump has asked for a corporate tax rate of 15 percent, down from its current 35 percent. He also wants to […]

In a U.S. Federal Income tax world that is ever more complicated, it is as important as ever to keep good records, seek appropriate professional tax advice, and be vigilant in using your knowledge and judgment in the application of the law as it pertains to your own personal and business situations. Over the past […]

By Barry M. Pelagatti With the Federal Reserve committed to a slow but steady rate hike program in 2017, lenders face a net interest margin (NIM) squeeze that may exacerbate recent years’ long thinning of the margin and increase funding challenges for many middle-market and regional banking institutions. Though the Fed elected to hold rates steady […]

By Henry Rinder, CPA, ABV, CFE, CFF, CGMA Entrepreneurship is the American way. Our country thrives on capitalism, and historically, small businesses create most new jobs. However, business enterprises are not without risk. For example, statistics show that approximately 50% of all new businesses fail within the first 5 years. There are many reasons businesses […]

A FEATURE EXAMINING THE ROLE OF PRIVATE EQUITY IN THE MANUFACTURING SECTOR. The new administration’s pro-economic growth agenda has spurred optimism among the investment community, and most agree the coming year is primed for a healthy cadence of deals. In fact, in a poll BDO conducted in January, 71 percent of fund managers characterized the investment […]

The IRS will now require all entities taxed as partnerships, to pay for imputed taxes from audits. This will apply for prior tax years at the partnership level as well as for tax years beginning after January 1, 2018 (26 USC Section 6221). A partnership, for federal tax purposes, is any company that elects to […]