Recent News & Insights

Trump Signs Tax Reform Bill Into Law
December 22, 2017
After an impressive display of speed and discipline, both chambers of Congress passed the final reconciled version of the Tax Cuts and Jobs Act (H.R. 1) this week. The bill is now in the hands of President Trump, who has expressed his eagerness to sign it into law.  READ MORE +

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ANTHONY TEMPESTA FEATURED IN Westchester County Business Journal


Jan 18, 2018

Quality control


By Salvatore A. Collemi
January 15, 2018

Salvatore A. Collemi, Partner-in-Charge of our Professional Standards Group, authored an article on audit quality control for the January 2018 issue of Accounting and Business.

Preparing for the New Lease Accounting Standard


By Joseph Montero
January 15, 2018

In this article, Joseph Montero, Audit Director, helps real estate companies understand the new FASB lease accounting standard. The implementation of these updated rules is on the horizon, and early preparation is key.

New Tax Bill Protects 1031 Exchanges for Real Property


By Michael W. Hurwitz
January 15, 2018

Now that we know 1031 Exchanges will still be allowed for real property under the new tax law, learn more about this popular tax-deferral strategy for real estate investors. Michael Hurwitz explains the requirements, deadlines and common pitfalls associated with 1031 exchanges.

Are You Ready for Your Year-End Audit?


January 15, 2018

As companies throughout the real estate industry get ready for their year-end audits, Senior Manager Adeline Lee outlines the steps business leaders can take before, during and after the audit to ensure a smooth and successful process each year.

How to Comply with the New Revenue Recognition Rules


January 15, 2018

New rules are poised to take effect that could fundamentally change how many in the real estate industry will account for their revenue. This article summarizes guidance covering the five steps a company must follow to determine when to properly recognize revenue on its financial statements. 

Tax Reform Provisions Hit Home in the Real Estate Industry


By Abe Schlisselfeld
January 15, 2018

Many of the provisions in the new tax law have a significant impact on the real estate industry. Real Estate Tax Partner Abe Schlisselfeld explains how several of these major changes will affect your real estate investments and businesses.

 

Staying cool in the deposition hot seat


By Eric A. Kreuter
January 3, 2018

Eric Kreuter, partner in our Advisory Services Group, contributed the cover story to the January/February 2018 issue of Fraud Magazine. Staying Cool in the Deposition Hot Seat explores how expert witnesses can prepare to represent their clients at a deposition and handle aggressive attorney questioning. 

New Repatriation Tax on Foreign Corporate Shareholders


By Curtis Best
January 2, 2018

The tax reform bill signed into law last week could signal a significant one-time deemed repatriation tax on owners of foreign corporations. For a calendar-year foreign corporation with a calendar-year shareholder, the tax would apply to 2017. For others, it would apply to the last year of the foreign corporation that begins before 2018.

Tax Reform’s Impact on the Theater and Film Industry


By Christopher A. Cacace
December 27, 2017

While individuals and businesses in the theater and film industry were watching and listening to news of the Tax Cuts and Jobs Act (H.R. 1) bill unfold, the Marks Paneth Theater, Media & Entertainment Group was working with government and industry groups on provisions in the bill specific to the industry, as well as monitoring the broader legislation.

Trump Signs Tax Reform Bill Into Law


By Mark R. Baran
December 22, 2017

After an impressive display of speed and discipline, both chambers of Congress passed the final reconciled version of the Tax Cuts and Jobs Act (H.R. 1) and it was signed into law by President Trump this week.

Abe Schlisselfeld featured in Real Estate Weekly


Dec 20, 2017

Real Estate Alert: Tax Bill Creates New Deduction on Qualifying Pass-Through Income


By William H. Jennings
December 20, 2017

The Tax Cuts and Jobs Act (H.R. 1) was passed by Congress today and sent to the President to be signed into law. The final reconciled bill creates a new deduction for qualifying pass-through income, subject to certain limitations. Generally, any trade or business is eligible for the deduction, except specified service businesses.

Employee Benefit Plan Alert: Minimum Distributions for Missing Participants


By Rita Piazza
December 13, 2017

The Internal Revenue Service’s (IRS) Employee Plans Examinations division issued a field directive to all exam agents on missing participants, beneficiaries and the required minimum distribution (RMD) standards under Internal Revenue Code Section 401(a)(9).

Risks in Having a Poor Anti-Money Laundering Program


By Sareena M. Sawhney
December 13, 2017

Valuation and financial forensics professionals and their firms often provide other services. In this article, the author discusses Anti-Money Laundering (AML) actions and which industries are at risk for violating Bank Secrecy Law and AML provisions. Many kinds of businesses are at risk for money laundering and for penalties if AML programs do not meet regulatory standards. Financial institutions—banks, credit card companies, investment brokers, etc.—are under scrutiny to comply with AML requirements as are casinos and dealers in hard goods such as automobile, boat, and airplane dealers, and jewelers. Certain industries, such as insurance and real estate, are also being scrutinized for potential money laundering.

Steven Eliach Featured in Crain's New York Business


Dec 12, 2017

Tax Reform: Closing in on the Finish Line


By Mark R. Baran
December 11, 2017

A conference committee consisting of both House and Senate negotiators will begin work this week to reconcile differences between their respective tax measures. Among the many provisions that differ between the two plans, we have outlined the ones we feel will have the broadest impact on all of our clients and industry groups.

Real Estate Alert: Tax Reform Measures You Might Have Missed


By Michael Siino |  Alan M. Blecher
December 10, 2017

While there are many provisions in the House and Senate tax reform bills that would affect the real estate industry, there are quite a few that are not making the headlines. Real estate business owners should take careful note of these easily overlooked changes.

Marks Paneth’s 2017 Estate Planning Guide


December 8, 2017

The Marks Paneth Tax Services Group has issued its 2017 Estate Guide to highlight the tax law changes and other issues affecting our clients’ estate planning strategies

Christopher Cacace Interviewed by the Wall Street Journal


Nov 22, 2017

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