Withum Announces Next Leadership Class of Women of Withum Employee Resource Group In a traditionally male-dominated industry, Withum prides itself on being historically progressive in raising women through the accounting profession and within the firm. The Women of Withum (WoW) Team Member Resource Group (TMRG), also referred to as an employee resource group, was founded…
Right now, there is probably no more frequently searched accounting topic by accounting and finance personnel in fintech than CECL. What is CECL, you ask? (pronounced SEE-sil) CECL (Current Expected Credit Loss) is a new accounting standard, ASC 326, that affects how companies account for credit losses. It requires companies to estimate the expected credit…
Withum is proud to share that Robert Fried, Partner and co-founder of the Firm’s Theatre and Entertainment Industry Services Team, was awarded a Tony Honors for Excellence in the Theatre, celebrating his lifelong contributions to Broadway. Robert’s career spans over 30 years, in which he has served as an accountant, tax consultant and advisor to…
Real estate investors generally want to do everything possible to maximize their return on investment when investing in residential rental properties. One of the most effective methods of accomplishing this is by reducing their income tax liability on the investment properties they own; this can be accomplished by conducting a cost segregation study. Per IRS…
Lynn Mucenski-Keck, Principal and Lead of Federal Tax Policy at Withum, testified in front of the House of Representatives Committee on Small Business on how tax hikes crush the competitiveness of small businesses. The House Committee on Small Business hosted a hearing on Tax Day, April 18th of 2023, on how changing policy will affect…
Professional engineering, architectural, utility and railroad companies who perform work for governmental agencies are often required to have an independently audited overhead rate. The overhead rate is calculated by dividing total allowable indirect expenses over total allowable direct labor, however getting to that simple step takes some effort. The numerical inputs to the overhead rate…
Architectural and engineering firms engaged in contracts that call for billing based upon an overhead rate are challenged to find balance between an optimal and competitive overhead rate. Since the overhead rate has a direct effect on the consultant’s profit margin, an ample overhead rate is essential. In order to ensure your firm is calculating…
In its purest form, technology can be used to anyone’s benefit, and utilizing technology to find new ways to improve your not-for-profit organization has never been more accessible. Between the new metaverse, TikTok, and other social media platforms, there are endless ways to reach a new audience that can drastically improve your economic standing and…
Originally published on September 29, 2021 We talk a lot about workplace efficiency, productivity and connectivity especially now as we are living in a reality of hybrid work environments. To create a thriving environment for your employees, it’s really about bringing everything together through technology. Here are 11 ways that Microsoft 365 boosts productivity and…