Recent News & Insights

The new employee tax credit your organization may be missing out on
February 28, 2017
Are you familiar with Internal Revenue Service forms 5884, 5884C and 8850? If not, your organization may be missing an opportunity to reduce its federal tax liability from $1,200 up to $9,600 per new hire. The great news is, both “for-profit” and “nonprofit”employers are eligible for the Work Opportunity Tax Credit (“WOTC”)  READ MORE +

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Tax Alert: IRS issues 2017 cost-of-living adjustments


By Avery E. Neumark
March 13, 2017

Did you know that the IRS has adjusted cost of living thresholds? The 2017 cost-of-living adjustment amounts trend higher than 2016 amounts, but only slightly. How might these amounts affect your year-end tax planning or retirement planning? 

Ensuring Nonprofit Compliance with the Federal OMB Uniform Guidance and NJ's Circular 15-08 OMB


By John D'Amico
March 13, 2017

The federal OMB’s Uniform Guidance requires New Jersey-based nonprofit organizations with fiscal year expenditures greater than $750,000 to have a Single Audit. Organizations that receive new or incremental federal funding either directly from a federal agency or passed-through from the state or a local government after December 24, 2014 need to follow the federal OMB’s Uniform Guidance. For federal grants awarded prior to that date, OMB Circulars (A-110 and A-122 for nonprofits) are still in effect.

The new employee tax credit your organization may be missing out on


By Mordecai Lerer |  Jacob A. Beniawski |  Joseph Frohlinger
February 28, 2017

Are you familiar with Internal Revenue Service forms 5884, 5884C and 8850? If not, your organization may be missing an opportunity to reduce its federal tax liability from $1,200 up to $9,600 per new hire. The great news is, both “for-profit” and “nonprofit”employers are eligible for the Work Opportunity Tax Credit (“WOTC”).

Edwin Morris Featured in 914Inc.


Feb 23, 2017

Real Estate Advisor - February, 2017


By William H. Jennings
February 17, 2017

Marks Paneth has published the latest issue of Real Estate Advisor

Nonprofit Agendas - February, 2017


By Michael McNee
February 14, 2017


Neil Sonenberg Featured in Real Estate Weekly


Feb 10, 2017

NONPROFIT PULSE: A LEADERSHIP SURVEY FROM MARKS PANETH


February 9, 2017

Mark Paneth’s Nonprofit Pulse collects the opinions of nonprofit leaders twice a
year. Findings from the Summer/Fall 2016 survey provide insights into the impact of
funding challenges on meeting demand for services, attracting and retaining staff
and the financial stability of organizations facing funding gaps.
The majority of respondents are senior leaders of human-service nonprofits
operating in the US, including executive directors, CEOs, CFOs, board members, and
directors.

Sareena Sawhney Talks to Long Island Business News


Feb 8, 2017

Real Estate Alert: Proposed Significant Change to NYS Real Estate Transfer Tax Law


By William H. Jennings
February 3, 2017

New York State Governor Andrew Cuomo recently released his FY 17-18 Executive Budget, which suggests a number of changes to the tax law. Among those changes is a proposal to greatly expand the reach of the New York State Real Estate Transfer Tax with respect to transfers of entities holding New York State real estate. 

VALUATION AND LITIGATION BRIEFING, FEBRUARY 2017


By Eric J. Barr
February 2, 2017


DEBBIE DAVIDMAN FEATURED IN LONG ISLAND BUSINESS NEWS


Jan 27, 2017

Transfer Pricing Business Models


By Angela Sadang
January 27, 2017

A key factor in establishing a reasonable transfer price is establishing the business model used by sales and distribution organizations. In this article, the authors describe the three primary models and their relevance establishing and defending a transfer price.

On Boarding a New Transfer Pricing Client


By Angela Sadang | 

One of the fundamental challenges when starting a transfer pricing engagement with a new client is acquiring a good general understanding of their business ― and securing sufficient details about the operations ― in order to develop the appropriate transfer pricing policy and methodology. 

PREPARING FOR THE SALE OF YOUR BUSINESS


By Angela Sadang |  Mark R. Cuccia
January 27, 2017

So, you founded your business and, over the years, built it into the profitable — and flourishing — operation it is today.  Or maybe you inherited the business, maybe even bought out an existing enterprise.  But, whatever your path to success, you’ve no doubt worked hard and long to get to where you are.

New Liquidity Disclosure Requirements for Nonprofits


By Sibi B. Thomas
January 23, 2017

Under the Financial Accounting Standards Board’s new financial reporting standards for nonprofits released on August 18, 2016, nonprofit organizations are required to provide enhanced disclosures about the liquidity and availability of its resources in the audited financial statements. The disclosures must be both qualitative and quantitative in nature.  

TAX ALERT: 2017 FILINGS-WHAT YOU NEED TO KNOW


By John N. Evans
January 9, 2017

Due dates for filing of certain tax returns and information returns have been changed - see chart below for more information. 

TAX ALERT: DEADLINE EXTENDED FOR ACA INFORMATION REPORTING TO EMPLOYEES


By Mark R. Baran
December 16, 2016

The IRS has again extended the deadline for employers who are subject to the Affordable Care Act’s (ACA’s) information reporting requirements to meet their obligations to employees. Last year the IRS extended the 2016 deadlines for reporting 2015 information, which gave employers an additional two months to provide Form 1095-B, “Health Coverage” and Form 1095-C, “Employer-Provided Health Insurance Offer and Coverage” to their employees.  

TAX ALERT: IRS ISSUES ITS 2017 COST-OF-LIVING ADJUSTMENTS


By Mark R. Baran
December 14, 2016

The IRS recently issued its 2017 cost-of-living adjustments. Mark Baran, Principal in the Tax Practice, explains the adjustments that have been made so that you can take them into account as you implement your 2016 year-end tax planning strategies. 

TAX ALERT: NEW IRS REGULATIONS TARGET EARNINGS STRIPPING


By Curtis Best
December 14, 2016

The IRS has issued much-anticipated final regulations intended to keep multinational companies from moving their profits offshore to avoid paying U.S. income taxes. The regs are part of a larger Obama administration campaign against corporate inversions, whereby a U.S. company merges with a foreign firm and then changes its tax address (domicile) to the foreign country. In particular, the regs address earnings stripping, a practice commonly used to minimize taxes after an inversion.

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