Share When Russ Adams decided to install solar energy panels at his Northbridge MA home, his calculations included not just the yearly savings he would reap on his monthly electric bills, but also the generous federal income tax rebate he would eventually receive based on the equipment and installation costs of the new system. More…
Share It’s a familiar scenario. On a day-to-day basis, owners and managers of contracting firms do what they need to do to keep the business running. Whether it’s purchasing a new piece of equipment to replace an outdated one, or hiring extra help to handle a brand new project, they tend to focus on “taking…
E’commerce – Are You A Tech or Consumer Products Company? “Is it live or is it Memorex?” – from a classic commercial aired in the 1970’s We continue to see a proliferation of e ‘commerce startup companies that believe they are part of what is broadly referred to as the tech space. When describing themselves,…
One person who is looking to shake up the world of men’s apparel is Zach Goldstein, Founder of Public Rec, an Athleisure clothing company. Goldstein’s marquee product is a pair of pants that have the style and look of a pair of khakis with the comfort of sweatpants. Dubbed the “All Day Every Day” pant,…
On June 25, 2015, in an 88-page decision, Judge Vito L. Bianco of the Tax Court of New Jersey ruled, in the case of AHS Morristown, d/b/a Morristown Memorial Hospital v. Town of Morristown, that Morristown Medical Center (formerly Morristown Memorial Hospital) was liable for unpaid property taxes for tax years 2006 through 2008. For…
NJ Barred from Taxing Out-of-State Income of a Trust – New Regulations on the Horizon? A recent New Jersey appellate court decision upheld prior tax court rulings that New Jersey cannot tax a resident trust on out-of-state income when the trust has no assets, trustees or beneficiaries in New Jersey. Facts The plaintiff in the…
Owners of real estate are in a unique position as it relates to estate planning opportunities. They are able to employ various strategies to minimize their tax burden as they begin to transfer their assets. The goal of a good estate plan is to reduce the overall estate and gift taxes that an individual will…
Ponzi Scheme Losses – Don’t forget to take an ordinary loss deduction By: Robert Schachter, Partner – WithumSmith+Brown, PC The Madoff Ponzi scheme seems like an eternity ago, but Ponzi scheme losses are still in the headlines today. It is important to note that Revenue Rule 2009-09 and Rev. Proc. 2009-20 & 2011-58 provided safe…
Brian Wynne, CPA The Maryland General Assembly has released more details about the Maryland Tax Amnesty Program. This program waives all civil penalties and one half of the interest for delinquent taxpayers who apply and are approved. We shared some information about the Tax Amnesty Program in April. Previous Post Next Post
WithumSmith+Brown Promotes Three to Partner WithumSmith+Brown remains committed to growing its corporate leadership team, promoting three senior managers to partner level, effective July 1, 2015. This year’s advancing class includes: Michael M. Kulick, CPA, MBA; Nicole D. Lyons, CPA/CFF, CVA; and David J. Poillucci, CPA, MST. Mike Kulick, CPA, MBA, Partner Michael Kulick is a…