News & Insights
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November 12, 2021
Employee Retention Credit (ERC) Repealed Retroactively by New Legislation
By James (Jay) M. Brower, Jr. | November 10, 2021
On November 5, 2021, the House of Representatives passed HR 3684 the “Infrastructure Investment and Jobs Act,” which was signed shortly thereafter by the President.
Reminder: Half of 2020 Deferred FICA and Self-Employment Taxes Are Due December 31, 2021
By James (Jay) M. Brower, Jr. | November 9, 2021
The CARES Act, enacted in March 2020, allowed employers and self-employed taxpayers to defer payment of their share of FICA taxes for their employees for periods March 27 through December 31, 2020. The bill is now coming due, with payment of 50% of deferred amounts due on December 31, 2021.
Compensation, Governance and Compliance Best Practices
By Magdalena M. Czerniawski | Matthew Estersohn | November 8, 2021
From executive compensation decisions to conflicts of interest and excess benefit transactions, nonprofit governance issues demand that board members are informed about best practices, IRS expectations and, in some cases, state law.
The New Audit Opinion for Private Companies – Effective for Audits of Calendar 2021 Year-end Companies
By Clarence Peterson | Herbert M. Chain | November 1, 2021
Read more about the list of updates to the audit opinion, which significantly revised the form and content of auditor's reports on the financial statements of private companies.
Managing the Rapid Pace of Change: Marks Paneth’s Sixth Annual Nonprofit Industry Update Seminar
October 28, 2021
Our October 7 virtual seminar brought together more than 300 nonprofit leaders to explore actionable solutions to their issues.
Real Estate Perspectives, October 2021
October 26, 2021
Life Sciences and Biotech Firms Drawn to NYC by Tax Credits
By Alan M. Blecher | October 22, 2021
Public and private investment is contributing to the growth of the life sciences industry in New York City, bolstered by federal and state tax credits for an industry that will continue to grow for the foreseeable future.
Tax Strategies Make Life Sciences a Strong Real Estate Investment
By Darya Shneyder | October 22, 2021
Robust infrastructure, academic institutions and hospitals are attracting life sciences companies to New York City and the Tri-State area, and key tax incentives – facilitated by cost segregation studies – provide support for the growing industry.
Is There a Future for Grantor Trusts?
By Christopher D. Wright | October 17, 2021
Legislation being negotiated in Congress would cut in half the current estate and gift tax exemption, and would dramatically alter treatment of grantor trusts, which are the preferred vehicle for moving assets out of an individual’s estate. If enacted, this legislation would make the future use of grantor trusts useless.
Podcast: How Jewelers Can Navigate the State and Local Tax Landscape Complicated by Wayfair
By Howard Hoff | James (Jay) M. Brower, Jr. | October 6, 2021
Howard Hoff, Partner-in-Charge of Marks Paneth’s Commercial Business Group, and James Brower, Partner and State and Local Tax Leader, explain how the Supreme Court’s South Dakota v. Wayfair decision of 2018 has complicated the tax implications of selling in other states.
Private Client Insights, October 2021
October 5, 2021
Remote Workers May Owe New York Income Tax, Even If They Haven’t Set Foot in the State
By Jennifer Prendamano | James (Jay) M. Brower, Jr. | October 1, 2021
Taxpayers who work for a New York-based company may be surprised to find they still owe New York State income taxes even after a successful domicile change.
Real Estate Perspectives, September 2021
September 29, 2021
Nonprofit & Government Times, September 2021
September 28, 2021
Mansion Tax Adds to Array of Transfer Taxes When Buying, Selling Real Property
By Neil A. Sonenberg | September 27, 2021
When buying and selling real estate in New York City, transfer taxes are generally expected. However, buyers of valuable real estate in New York City should also be aware of the Mansion Tax, an additional tax of 1% to 3.9% of the sales price over $1 million.
Disaster Relief: What Are the Options for Nonprofits?
By Magdalena M. Czerniawski | September 27, 2021
Nonprofits that want to help current or former employees struggling with economic fallout from COVID-19 and natural disasters should evaluate federal and state requirements when deciding how to help.
What NYC Property Owners Need to Know about Life Sciences Real Estate Tax Incentives
By Eduard Suleymanov | Deana L. Wetzel | September 21, 2021
Real estate owners have the chance to take advantage of prime incentives to enter the market as New York City works to become a premiere life sciences hub.
Rafael Vasquez and Maya Khan Recognized as “2021 Ones to Watch” by NYREJ
Featured: Rafael U. Vasquez | Maya C. Khan | September 21, 2021
Rafael U. Vasquez, CPA, a Director in the Real Estate Group and based in our New York City headquarters office, and Maya C. Khan, CPA, a Director in the Real Estate Group and based in our Woodbury, NY office, have been chosen as “2021 Ones to Watch” by New York Real Estate Journal.
Four Marks Paneth Professionals Recognized Among Crain’s New York Business’ 2021 Notable Women
Featured: Pamela Cianciotta | Darya Shneyder | Jessica Strom | September 20, 2021
Pamela Cianciotta, Darya Shneyder, Jessica Strom and Katherine Zheng have been recognized among Crain’s NY Business’ 2021 Notable Women in Accounting and Consulting.
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