Borrowing from a bank during a time of rising interest rates may seem counter-intuitive and potentially come with risk. One of the most effective ways to manage that risk is to enter a tax hedge with a third party. In a traditional tax hedge, a taxpayer borrows money from a bank at a variable rate….
Withum is proud to share that local business publication ROI-NJ has named Jim Bourke, Bill Hagaman and Pat Walsh to their 2023 Power List in Accounting. Jim Bourke, Managing Director of Advisory Services, is a sought-after global speaker on all issues involving technology, the profession and business advisory, in addition to his duties to clients…
We recently had the opportunity to help a not-for-profit client reduce their extract, transform and load (ETL service) costs by 95% by moving from a subscription-based cloud platform model to Azure Data Factory. The client had a looming contract deadline and was under an expensive agreement that was about to increase even more. With Azure’s…
The salary cap in the NFL is up to $208 million per team for 2022 and continues to rise each year by about $20 million. This salary cap sets a maximum budget that each team can pay their entire player roster. Even with this rise, the wage gap between the minimum salary and the highest…
Most state income tax systems fall into two categories: progressive taxes or flat taxes. Massachusetts touts the advantages of their “flat tax” system. Everyone pays the same percentage of their income. It is equitable, doesn’t punish high-income earners, and everyone is left with the same percentage of after-tax earnings to spend, right? Sort of…Massachusetts’ “flat…
Considerations for Valuation Despite the uncertainty surrounding the value of tokens purchased from defunct crypto exchanges, like FTX, investment fund managers still need to mark their portfolios at fair value and issue financial statements to their investors. Whether these tokens are now worthless and should be written down to $0, if a discount should be…
Learn how a not-for-profit education company avoided massive challenges by using Microsoft Azure Data Factory and reduced their data pipeline cost by 95%. Download a PDF of this case study. Executive Summary A child- and education-focused not-for-profit supporting underserved populations needed help with their legacy data pipeline process that was suddenly out of budget. Working…
Sage Intacct Construction is one of the top construction finance management software providers and is the first and only AICPA-preferred accounting solution for general contractors and developers. Sage Intacct Construction enables proactive management of valuable financial metrics and improves cash flow. It’s built specifically for the construction industry, providing real-time visibility and insights through role-based…
The rising popularity of the employee retention credit (ERC) has reached boy band status. You’ve heard of it on the radio, seen it on TV, and likely even discussed it with your friends. But as with any popular tax credit or deduction, the IRS is sure to be close behind. We’ve written about IRS audits…
President Biden’s State of the Union Address on February 7, 2023 included calls for tax reform and for “responsible” action by Congress to increase the $31.4 trillion federal debt limit, which is coming to a head in about four months. Separately, he indicated a willingness to work with Republicans on deficit reduction outside of the…