On November 15, 2021, Glick & Associates, a public accounting firm headquartered in San Francisco, CA, joined its practice with Withum, a nationally recognized CPA and advisory firm with 15 offices and annual revenue of $330M, ranking in the top 25 firms in the country. Jeffrey M. Glick, CPA, MST, current managing partner of Glick…
Withum’s Bill Hagaman, Managing Partner and CEO, became the first graduate to receive the Outstanding Alumni Award from Stockton University School of Business for his endowment of the University’s First-Generation Student Endowed Scholarship. The scholarship pays homage to Hagaman’s experience at Stockton, which he attributes to launching his successful career leading a top-25 public accounting…
On November 11, 2021, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2021-09, Leases, Discount Rate for Lessees That Are Not Public Business Entities. This ASU allows for an entity to use the risk-free rate option for a discount rate by class of asset, rather than the entity as a whole, when valuing…
What’s a Project? As per Project Management Institute (PMI), the definition of a project is a “temporary effort to create value through a unique product, service or result.” When a new project is started, the next question is, how is it going to be implemented and delivered to the end-users? End-users can be internal users…
The Patient Protection and Affordable Care Act (“ACA”) added new requirements that tax-exempt hospital organizations must satisfy in order to be described in Internal Revenue Code (“IRC”) §501(c)(3). Under IRC §501(r)(3) an organization that operates one or more hospital facilities must conduct a Community Health Needs Assessment (“CHNA”) and adopt an implementation strategy at least…
On November 5, 2021, the House finally managed to pass the $1 trillion, bipartisan infrastructure bill (2,740 pages) that was passed by the Senate on August 10, 2021. House progressives agreed to decouple this bill from the larger reconciliation bill (i.e., the Build Back Better Act) because they secured a written agreement from moderate Democrats…
Although the Employee Retention Credit (ERC) is expiring at the end of 2021, there’s still time for eligible businesses, including tax-exempt organizations, to claim this very beneficial tax credit. What is this “ERC” You Speak Of? In March 2020 legislation was passed to provide immediate relief to individuals, businesses, and exempt organizations, in response to…
Learn how Withum’s audit, Special Purpose Acquisition Company (SPAC) and U.S. Securities and Exchange Commission (SEC) Service Teams enabled an electric vehicle startup, emerging growth company to be ready for a SPAC acquisition in under five months. Download a PDF of this case study. Executive Summary A leading manufacturer of fully electric Class 5 to…
Learn how Withum’s Manufacturing and SEC Services Teams positioned a commercial electric vehicle manufacturer to partner with a strategic investor to support their journey on the road to become a publicly-traded company. Download a PDF of this case study. Executive Summary A manufacturer of zero-emissions electric vehicles for commercial delivery and passenger transportation innovated their…
If you’re confused about what the Democrats plan to include in the latest tax reform proposals, you’re not alone. The proposals are coming in fast and furious, and in many cases are shot down by others in the Democratic party the same day they are issued. Summarizing President Biden, when you have a 50/50 split…