Build Your Numbers: Importance of Job Cost Reporting Every type of business is faced with unique complexities when it comes to achieving financial success. Among the most important accounting concepts for contractors, construction companies and engineers to drive their success is understanding the importance of job cost reporting. The majority of the companies within these…
Shifting Sands As fees become a priority for both LPs and the SEC, fund managers are having to rethink expenses when handling investments. Thomas Angell, partner, explains the change in mindset around portfolio fees. Since 2010, the Securities and Exchange Commission has been moving toward a more entrenched presence within the private equity industry. As a result,…
Update on Dividend Equivalent Tax Withholding – Sec. 871(m) Rules By Anthony Tuths, JD, LLM – Partner – WithumSmith+Brown, PC The IRS plans to issue the final version of proposed rules for dividend equivalents together with a notice providing additional guidance and transition relief. It is expected that 871(m) will take effect on January 1,…
Equity Plans Part I – The Sooner the Better “The time has come, the time is now . . . ” quote from the book “Marvin K. Mooney Will You Please Go Now!” by Dr. Seuss Hopefully many of you remember this fabled line and for me, it is what comes to mind when I…
The Journal Fall 2016 Issue Comparison of Presidential Candidates’ Tax Plans Presidential candidates Hillary Clinton and Donald Trump offer widely disparate views on topics ranging from immigration to gun control to national security. A similar gap exists in their respective tax proposals, with Clinton committed to raising taxes by $1.5 trillion over the next…
Avoid Devastating Fines- FTC Used Car Buyers Guide Compliance Since 1985, the Federal Trade Commission (FTC) Used Car Rule has required automobile dealerships to prominently display Buyers Guides in all used vehicles offered for retail sale at the dealership. The Guide may be removed temporarily for a test drive, but must be reinstated immediately thereafter….
A few years ago, one of our audit clients was the victim of fraud when an employee embezzled cash receipts. The fraud was made possible by a combination of unusual circumstances and errors in management judgment. As we started the annual audit of our client’s financial statements, we learned that the long-time controller had decided…
A few years ago, one of our audit clients was the victim of fraud when an employee embezzled cash receipts. The fraud was made possible by a combination of unusual circumstances and errors in management judgment. As we started the annual audit of our client’s financial statements, we learned that the long-time controller had decided…
Withum winner of HLB’s Accountant and International Accounting Bulletin Awards HLB International was celebrating with the announcement that two member firms were successful at this year’s The Accountant & International Accounting Bulletin Awards. WithumSmith+Brown, PC (Withum) was announced as a winner in the Employer of the Year category. Jurors commended the firm for its voluntary turnover…
It Does Not Say That; Does It? “The devil is in the details.” – quote with various attributions As I reflect on what has been keeping me so busy these last few weeks, I realize that there are three problem situations that have their roots in owners not fully understanding (or reading) certain underlying documents….