Regulations and Background Sec. 469 of the Internal Revenue Code only allows taxpayers to utilize losses from passive activities to offset income from other passive activities. Passive activities generally include any trade or business in which the taxpayer does not materially participate and any rental activities, regardless of the level of participation. The regulations provide…
Critical Components to Achieving the Perfect Order Retailers must constantly meet and exceed ever-changing customer expectations. It’s what keeps shoppers coming back to your business. Delivering on customer expectations comes from the ability to complete the perfect order: Getting the right products delivered at the best price, when and where they want. For merchants, the…
Steps for Simplifying the Allocation of Costs Within a Not-for-Profit ASU 2016-14 on Presentation of Financial Statements of Not-for-Profit Entities (the ASU) requires not-for-profits to disclose in their financial statements the methods they use for the allocation of program and supporting costs, i.e. allocate costs among program, fundraising and management and general functions. This includes…
Profit is Not an Ugly Word Leo Bloom: “Heh, heh, heh, amazing. It’s absolutely amazing. But under the right circumstances, a producer could make more money with a flop than he could with a hit.” – quote from the movie The Producers by Mel Brooks. Some of you may recall this memorable line which was…
Withum Announces New Whippany Office Location Strength in New Whippany, NJ Office Design Extends WithumSmith+Brown’s Core Beliefs Sustainable build utilizes 42+% of recycled content and yields 26,000+ pounds of construction waste diverted from landfills WithumSmith+Brown, PC (Withum) a leading certified public accounting and consulting firm, has completed the relocation of over 125 employees this week…
For cash basis taxpayers, real estate taxes are deductible in the year paid. However, not all taxes paid qualify as deductions. A taxpayer may take a deduction for taxes paid on all property owned by the taxpayer, including a main home, vacation home, land and even a houseboat. Unlike the mortgage interest deduction, a taxpayer…
For the past fifteen years, Portal Solutions has been at the forefront of the Digital Transformation movement, providing organizations of all sizes with leading Digital Workplace solutions. Today I/we are excited to announce that Portal Solutions will merge its practice with WithumSmith+Brown, PC (“Withum”), one of the top 30 public accounting firms in the country. We are very enthusiastic…
Withum 300 Fun Facts & Figures Believe it or not, the end of April will mark the 40th month of Withum 300’s existence. And while we typically share fun information like how many miles we accomplished in any given month or how many people achieved 300 miles are more, here are some facts or figures…
Withum is pleased to announce the uniting of the brands of PWM Advisory Group, LLC (“PWM”) and Withum to form Withum Wealth Management (“WWM”). Withum has enjoyed a long-term joint-venture relationship with PWM Advisory Group, an independent registered investment advisor (RIA). PWM has been providing unbiased private wealth management services to Withum’s high-net worth individual…
Do You Have What It Takes to Be an Entrepreneur? “The difference between involvement and commitment is like ham and eggs. The chicken is involved; the pig is committed.” – quote attributed to Martina Navratilova There seem to be more blogs and advice pieces today preaching of the coming evolution in entrepreneurship. It appears more…