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4 Red Flags of Employee Retention Credit Abuses by Joseph Leocata, JD, CPA, MBA
Berkowitz Pollack Brant - 2023-09-28

4 Red Flags of Employee Retention Credit Abuses by Joseph Leocata, JD, CPA, MBA

The introduction and subsequent expansion of the employee retention credit (ERC) offered a valuable lifeline to businesses struggling to preserve jobs and pay workers through the pandemic despite interruptions to normal operations or significant declines in gross revenue. However, over time, the IRS has identified a significant number of schemes perpetrated by criminals to con […] The post 4 Red Flags of Employee Retention Credit Abuses by Joseph Leocata, JD, CPA, MBA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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IRS Delays RMD Rules for IRAs, 401(k)s…Again by Joanie B. Stein, CPA
Berkowitz Pollack Brant - 2023-09-25

IRS Delays RMD Rules for IRAs, 401(k)s…Again by Joanie B. Stein, CPA

In July 2023, IRS issued guidance granting taxpayers temporary relief from compliance with recently enacted laws concerning required minimum distributions (RMDs) from tax-deferred retirement accounts, including individual retirement accounts (IRAs) and 401(k)s. Beginning Age for RMDs In 2019, the president signed into law the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) that, […] The post IRS Delays RMD Rules for IRAs, 401(k)s…Again by Joanie B. Stein, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Podcast – Tax Tips and Traps for People Who Own Airplanes
Berkowitz Pollack Brant - 2023-09-21

Podcast – Tax Tips and Traps for People Who Own Airplanes

On this episode Director of Tax Services Jonathan Kraes shares issues and opportunities for individuals who purchase private airplanes.   The post Podcast – Tax Tips and Traps for People Who Own Airplanes appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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A Cautionary Tale About Expert Testimony in Damages Calculations by Joel Glick, CPA/CFF, CFE, CGMA
Berkowitz Pollack Brant - 2023-09-19

A Cautionary Tale About Expert Testimony in Damages Calculations by Joel Glick, CPA/CFF, CFE, CGMA

A Pennsylvania judge recently vacated a plaintiff’s $25 million damages award based on the plaintiff’s expert failure to provide at trial “a sufficient factual basis” for the numbers he relied on for calculating lost profits. Although the judge in Paramount Financial: Civil Action Communications, et al. v. Broadridge investor: Communications Solutions agreed with the jury’s […] The post A Cautionary Tale About Expert Testimony in Damages Calculations by Joel Glick, CPA/CFF, CFE, CGMA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2023-09-18

Trusts: Treatment and Use during Marital Dissolutions in Florida by Dylan Stone, CPA, CVA

Individuals and couples often establish trusts as a component of greater estate planning strategies to shield assets from creditors. However, if a couple decides to divorce, many questions can arise over whether the trusts also shield one party from support obligations and whether the trust assets are subject to equitable distribution. While these questions are […] The post Trusts: Treatment and Use during Marital Dissolutions in Florida by Dylan Stone, CPA, CVA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2023-09-18

Comparing Business Valuations to NFL Franchises by Vital Miranda, CVA, ABV

With football season underway, the NFL and its franchises are gearing up for another display of skill and competition. However, beyond the game itself, the financial landscape surrounding the NFL continues to evolve. With each passing season, NFL teams have seen their values increase to unprecedented levels. For instance, in July 2023, NFL owners unanimously […] The post Comparing Business Valuations to NFL Franchises by Vital Miranda, CVA, ABV appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2023-09-18

Differentiating between Lost Profits and Lost Business Value by Kathryn Solomon, CPA

An economic damages case aims to make the plaintiff “whole” again. There are two methods by which damages may be calculated: an appraisal of the value of the business as of the date of loss and a measure of the plaintiff’s loss of profits. What is the correct measure of damages to use in your case? Could […] The post Differentiating between Lost Profits and Lost Business Value by Kathryn Solomon, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2023-09-13

UPDATED – IRS Extends Tax Relief to Victims of Hurricane Idalia in Florida, South Carolina by Steven Rubin, CPA

The IRS has extended until Feb. 15, 2024, various tax-filing and tax-payment deadlines for individuals and businesses recently impacted by Hurricane Idalia, which first made landfall on Florida’s west coast on Aug. 27, 2023. The postponed deadline applies automatically to taxpayers with homes or businesses located in the following jurisdictions declared as federal disaster areas: […] The post UPDATED – IRS Extends Tax Relief to Victims of Hurricane Idalia in Florida, South Carolina by Steven Rubin, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2023-09-07

Podcast – BPB Knows Repair Regulations

In this episode Associate Director of Tax Services Joseph Leuchter explains how repair regulations can create favorable tax situations for business owns, real estate developers and other tax payers. The post Podcast – BPB Knows Repair Regulations appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2023-09-06

The Best Way to Prepare for an IRS Audit is to Keep Your Financial Life in Order by Sarah Gaymon, CPA

The best remedy for an audit is to be prepared for one before the audit letter arrives. Tax-planning decisions should never be made based on the likelihood of a potential IRS audit; however, you can set yourself up for success if an audit occurs. Following are 10 tips to help you keep your financial life […] The post The Best Way to Prepare for an IRS Audit is to Keep Your Financial Life in Order by Sarah Gaymon, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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