The New Jersey Economic Development Authority (NJEDA) has introduced a new $30 million pilot loan program called the New Jersey Loan Expansion and Network Development (NJ LEND). This initiative aims to boost economic activity in the Garden State by providing low-cost financing to small businesses that typically lack access to such resources, thereby promoting job…
Innovative business leaders know that data analysis is critical to staying ahead of the competition. After all, understanding current internal and external trends and then basing your decisions on actual evidence is the most effective method of influencing your organization’s future. Microsoft Power BI is taking analytics to the next level, democratizing access to information…
Withum is excited to share that Carl Moldrup, Manager in the Forensic and Valuation Services Team, has been appointed to the Board of Directors for the Philadelphia Chapter of the Association of Certified Fraud Examiners (ACFE). Carl is a long-standing member of this chapter, which includes more than 150 fraud professionals across the Greater Philadelphia…
Withum is proud to announce that Accounting Today ranked the Firm as the 22nd largest Accounting Firm in North America in their annual Top 100 Firms and Regional Leaders lists. Withum’s ranking for 2025 has moved up one spot from last year, a testament to the Firm’s consistent performance and growth. With an annual revenue…
While the SEC does not mandate that private companies conduct financial audits, many voluntarily opt for an audit to bring credibility and transparency to their financials, whether to meet investor expectations, fulfill loan requirements, secure future funding, satisfy regulatory requirements or prepare for a potential sale. Regardless, a financial statement audit is crucial both to…
Internal Revenue Code (“IRC”) Section 721 permits the exchange of property for a partnership interest to be treated as nonrecognition, meaning neither the partner nor the partnership realizes any gain or loss from the transaction. However, services are not considered property under IRC Section 721. Therefore, the exchange of a partnership interest for services does…
Maintaining fair market value (“FMV”) of physician compensation is a crucial aspect of healthcare compliance, reducing the risk that improper payments are not used to induce the referral of Medicare or Medicaid patients. As more physicians become employed and integrated into health systems, financial relationships (and FMV concerns) between physicians have risen. As a result,…
The Universal Cost Basis Method for Digital Assets is over, but a safe harbor option exists. Do you need to act now? The IRS released final regulations on broker reporting for digital assets (T.D. 10000). Per these regulations, Form 1099DA will be used to report digital asset sales to the IRS and to assist taxpayers…