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Posted in The Bottom Line, Featured Post, Estate Planning, Featured Content

One way to transfer a family business

For many people, a family-owned business is their primary source of wealth, so it’s critical to plan carefully for the transition of ownership from one generation to the next, and one of the biggest consideration is tax. The best approach depends on your particular circumstances. If your net worth is well within the estate tax…

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Posted in Alerts, Articles, Featured Content, In The News

Good economy, tax reform benefiting local food and beverage sector

as published in The growing economy and tax reform have benefited companies in the local food and beverage sector, according to a recent survey by Garden City accounting firm Margolin, Winer & Evens. The firm interviewed 65 food and beverage companies at Long Island Business News’ 2018 FoodBizLI Event, a trade…

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Posted in Featured Content, In The News

Employee stock ownership plans – are they for your business?

The federal Main Street Employee Ownership Act, which was signed into law in August, makes it easier for private businesses to transition to an employee-owned business. MWE Partner Paul Becht talks to Newsday about the new law, benefits of instituting an employee stock ownership plan (ESOP), and how to finance one.    

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Posted in The Bottom Line, Featured Post, Individual Tax Brief, Featured Content

Tax planning for investments gets more complicated

For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year end to save taxes. This year, you also need to keep in mind the impact of the…

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Posted in Featured Content, Newsletters

MWE Advisor September Highlights

September highlights from The MWE Advisor: Calculating W-2 wages for limitations on the qualified business deduction; The IRS issues proposed guidance on state and local tax limitations.

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Posted in Articles, Featured Content

Two Big Tax Changes Will Affect Food-and-Beverage Businesses

The food-and-beverage industry knows well that customers’ tastes are dynamic and constantly changing. So is the tax realm. Recent tax law changes and a decision by the Supreme Court have added complicated twists to current tax law that will affect businesses such as restaurants, distributors, and manufacturers on two fronts: the deductions they can claim…

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Posted in Alerts, Featured Content

Join us at this year’s Bisnow Long Island State of the Market Event

On October 31, 2018, MWE Partner John Schmuck will moderate a real estate panel discussion on bringing new life (and multifamily developments) to Long Island at this year’s Bisnow “Long Island State of the Market” event. Click here for more information.

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Posted in Alerts, Featured Content, In The News

MWE’s Amy Joyce named as a Notable Woman in Accounting & Consulting

Congratulations to MWE Partner Amy Joyce and all of the successful business leaders honored in the 2018 ‘Notable Women in Accounting & Consulting’ list by Crain’s New York Business!

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Posted in The Bottom Line, Featured Post, Accounting & Auditing, Featured Content

How to trim the fat from your inventory

Inventory is expensive. So, it needs to be as lean as possible. Here are some smart ways to cut back inventory without compromising revenue and customer service. Objective inventory counts Effective inventory management starts with a physical inventory count. Accuracy is essential to knowing your cost of goods sold — and to identifying and remedying…

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Posted in Alerts, Featured Content

Tax Reform and the Food and Beverage Industry – Strategies for Maximizing Your Profits

On September 27, 2018, MWE’s Managing Partner Craig Savell will moderate a panel discussion on how food and beverage companies can maximize their profits as a result of tax reform at the 2nd annual Food+Beverage Expo presented by Long Island Business News. Find out more information here.

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Posted in The Bottom Line, Featured Post, Estate Planning, Featured Content

3 reasons you should continue making lifetime gifts

Now that the gift and estate tax exemption has reached a record high of $11.18 million (for 2018), it may seem that gifting assets to loved ones is less important than it was in previous years. However, lifetime gifts continue to provide significant benefits, whether your estate is taxable or not. Let’s examine three reasons…

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Posted in The Bottom Line, Featured Post, Small Business, Featured Content

Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For a variety of reasons, a SIMPLE IRA can be a particularly appealing option for small businesses.…

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Posted in Articles, Featured Content

Evaluating Portfolio Company Compliance with New FASB Lease Rule

It’s a common challenge: The balance sheet treatment of leases makes it difficult for private equity firms and other investors to accurately compare different acquisition targets. A portfolio company with substantial financing (formerly known as capital) lease obligations might appear highly leveraged, while another that is able to structure those commitments as operating leases and…

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Posted in Featured Content, In The News

Aretha Franklin left no will, here’s why you should

Legendary singer Aretha Franklin reportedly did not put together a will before she passed away, which experts warn can create stress for beneficiaries and even burn cash. MWE Partner Amy Joyce spoke to Fox Business about what everyone should know about wills and trusts – and the consequences when you have no plan in…

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Posted in The Bottom Line, Featured Post, Infographics, Featured Content

M&A Market Reaches New Summit

Infographic: M&A deal value breaks records in 2018’s first half.

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Posted in The Bottom Line, Featured Post, Small Business, Featured Content

Do you qualify for the home office deduction?

Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may still be available to you. Home-related expenses Homeowners know that they can…

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Posted in Alerts, Featured Content

Hiding in Plain Sight – Maximizing Opportunities for Tax Efficiency

On August 1, accounting and business advisory firm Margolin, Winer & Evens and law firm Rivkin Radler led a joint program covering the new tax reform law, its implications and overall opportunities for maximizing tax efficiency. The conversation took place at The Yale Club in Manhattan and covered topics ranging from the Act’s impact on…

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Posted in Articles, Featured Content

Private Companies Face Deadline for New Revenue Recognition Standard

A critical deadline is approaching for private companies. For annual reporting periods beginning after Dec. 15, 2018, private entities must adopt a new standard for revenue recognition issued by the Financial Accounting Standards Board (FASB). The new standard, “Revenue from Contracts with Customers,” replaces all previously existing standards and guidance in order to, among other…

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Posted in The Bottom Line, Featured Post, Estate Planning, Featured Content

Use the proper tools to fix a broken trust

An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves your purposes? Is it too late to change it? Depending on applicable state law, you may have options to fix a “broken” trust.

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Posted in Featured Content, In The News

NY Firm Escapes the Office After Tax Season

          Back by popular demand, MWE hosted its second annual post-busy season “ Escape the Office” event for the staff. In May, one of our conference rooms was transformed into a carnival, and participants had to escape before a thunderstorm struck. After the event, CPA Practice Advisor interviewed Managing Partner Read More

Posted in Articles, Featured Content

Real Estate Developers Should Possibly Wait on Immediate Tax Law Response

as published in When the biggest tax changes in a generation become law, it’s tempting to act as quickly as possible. Yet the Tax Cuts and Jobs Act lacks many concrete provisions, and the IRS is still waiting on technical corrections from Congress to many of its bare-bones rules. As such, 2018 has evolved into…

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Posted in Featured Content, Guides, Surveys & White Papers

Navigating the New Tax Law: When to Act and When to Hold Off

The new tax law overhauls the U.S. tax code in a scale and proportion not seen in more than 30 years. Navigating it will require skill and finesse. While the law will have a profound impact on both businesses and individuals – it slashes the corporate tax rate, eliminates the corporate alternative minimum tax and…

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