Share To New England television viewers, their faces have become as ubiquitous as their jingle, “quality, comfort and price… that’s nice.” Bernie and Phyllis Rubin, founders of Bernie & Phyl’s Furniture, had become local celebrities over the years as the stars of their own TV commercials. Then about five years ago, astute viewers began noticing…
13 Tips for a Resilient Not-for-Profit Board Being a member of the governing body of a not-for-profit is a prestigious honor. One joins the board of a not-for-profit for various reasons – they believe in the charitable mission and the worthy cause the organization fights for, to bring expertise to the board or to act…
Falling Below the 33.3% Public Support Test? ISSUE My organization is in jeopardy of falling below the 33.3% public support test. What should I do? SOLUTION You may still be considered a publicly supported organization if you pass the facts and circumstances test. THE FACTS AND CIRCUMSTANCES TEST IS A TWO PART TEST WHICH INCLUDES:…
Share Update: Transfer of Property to Partnerships with Foreign Partners In Notice 2015-54, the IRS announced that they are going to issue regulations under Section 721(c) to ensure that when a U.S. person transfers certain property to a partnership (domestic or foreign) that has foreign partners related to the U.S. person, income or gain attributable…
Transferring assets to a company or partnership that constitutes an “investment company” for tax purposes creates a unique set of complications. In certain situations you may have to recognize gain under Internal Revenue Code Section 351(e) or 721(b) when contributing appreciated assets to an investment company in exchange for an equity interest. What is an…
Cuba – Observations Upon Arrival In the 1940s and early 1950s, Havana must have been a jewel of a city. Set against the beautiful Caribbean Sea, the Malecón offers the sea to one side and buildings across the boulevard – some restored, some new, but many crumbling after years of neglect. Perhaps that is the…
Is it Time to Do That Acquisition? “Patience hell; let’s kill something” – quote from famous image of two hungry vultures At times, I think we live to repeat history over and over again. Unfortunately, many of us only see with hindsight and not what is happening in the present. How many of us today…
How Cyber Resilient Are You? By: Joseph Fede, CPASupervisor – WithumSmith+Brown, PC Cybersecurity is the new hot topic in the financial services industry, especially in the wake of several high profilecyber-attacks that have taken place in the United States. These cyber-attacks have ranged from large corporations such as Home Depot and Sony, to the Federal…
Share INSIDE Public Accounting’s Top 100 Firms WithumSmith+Brown, PC is proud to announce that it has once again been named on INSIDE Public Accounting’s Top 100 Firm ranking list. The firm increased its placement on the 2015 list from No. 31 to No. 28. Withum’s higher position in the IPA Top 100 Firms Rankings for…