On September 27, 2023 the cannabis industry was all a buzz after a significant step forward toward seeing banking reform was announced. In a 14-9 vote, the Senate Banking Committee approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act to be sent to the Senate floor. Previous versions of the SAFE Banking Act passed…
Withum’s Law Firm Services Team discusses the tax and financial considerations for new law firm partners and shareholders at law firms of various entity types, including Partnerships/LLCs, S Corporations and C Corporations.
As a business owner, the thought of selling your company has likely come to mind when considering an exit. It’s no secret that it’s both a significant decision and undertaking, so gaining an understanding of how to prepare and what to expect can alleviate some of the stress in the transaction process. Here are the…
In today’s evolving market, transparency is pivotal. Sage Intacct’s dashboards are screen accessible through a desktop or mobile device. It displays numerous elements, including performance cards, lists, graphs, charts, and reports. Dashboards may be set up as public (available to anyone at the company with a Sage Intacct login) or private (available only to the…
Running a business can be rewarding, but it can also be challenging and time-consuming. As you pursue your passion and get your product or service out there, you will realize there is still so much to do. There are vendors to be paid, receivables to be followed up on, employees to be hired and payroll…
Major changes to the Research & Development (R&D) tax credit could be coming for tax years starting in 2024, as the IRS has proposed adjustments to Form 6765, “Credit for Increasing Research Activities”. Form 6765 is the form taxpayers attach to an original or amended federal tax return to report qualifying research expenditures (QREs) and their…
In a recently issued notice, #IR 2023-126, the IRS warns that the government is coming after high-income taxpayers who fail to file a tax return. The IRS discusses how the reduction in agency funding in the past impaired the Service’s ability to track down high-income non-filers and what the recent budget increases have permitted the…
Withum has been analyzing the increasing wage gap in the NFL and how it affects various positions. The position that has been affected the most has been that of the running back, whose contracts have been declining over the years. We will look at the case of Saquon Barkley, New York Giants running back, whose…
Ed Mendlowitz, Emeritus Partner at Withum, is a local and industry legend, having lent his voice and his talents to the accounting world for over 60 years. He is a thought leader, mentor, teacher, professor, writer and philanthropist. Furthering his worldwide impact on the industry, Ed has now established the Mendlowitz Family Scholarship at Baruch…
Sage Intacct’s R3 Release for 2023 has arrived – and it’s packed with exciting updates and features that will enhance your experience. To stay informed about these changes, you can easily access the Intacct release notes on your Intacct Home Page dashboard. The R3 release includes numerous product enhancements and introduces several Early Adopter Programs….