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

It’s not too late: You can still set up a retirement plan for 2018

If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time to set one up and make contributions that will be deductible on your 2018 tax return! More benefits Not only…

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Posted in Featured Content, Videos

What surprised you about your first busy season? (Part 1)

It’s impossible not to have some expectations when it comes to working your first busy season, but everything may not go as you imagine. Check out what surprised Christine and Danielle during their first busy season.

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Posted in Alerts, Featured Content

Wayfair: The Nexus Net Will Catch More Than Just Online Sellers

Join MWE Director Joseph Pizzimenti, Esq., on Monday, November 26th for a complimentary webinar, “Wayfair: The Nexus Net Will Catch More Than Just Online Sellers.” Attendees will receive an up-to-date analysis of the Wayfair decision and its ramifications for multistate companies. Attendees will earn one and half hours of CPE credits. Click here…

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Posted in Featured Content, Newsletters

MWE Advisor October Highlights

October highlights from The MWE Advisor: The IRS issues guidance on deducting meals bought while entertaining and claiming the new employer tax credit for family and medical leave.

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Posted in Alerts, Articles, Featured Content

Opportunities and Threats Loom for Long Island Transforming into the Next ‘Urban Suburbia’

Can Long Island become the next urban suburbia? That was the main question posed to industry leaders and top executives from across Long Island and New York City as they gathered last week at the Garden City Hotel for a morning of networking and conversation at Bisnow’s Long Island State of the Market event.

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Posted in Featured Content, Videos

What do you wish you knew about your first year in public accounting? (Part 1)

Going from backpack to briefcase can be tough. Looking back, Anthony and Jesse reflect on what they learned in their first year and what they wished they knew when they first started at MWE.

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

How auditors assess risk when preparing financial statements

Every year, your audit firm will conduct a fresh risk assessment before the start of fieldwork. Why? Because your auditor wants to mitigate the risk of expressing an incorrect opinion regarding the accuracy and integrity of the company’s financial statements. Inadvertently signing off on financial statements that contain material misstatements can open a Pandora’s box…

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Posted in Featured Content, In The News

Will You Thank or Curse Trump for Your Tax Bill?

The upcoming tax season will be the first time many people will face a new tax liability under President Donald Trump’s tax reform. And for these filers, how their tax liability will look remains mysterious. MWE tax Partner Lance Christensen spoke to U.S. News & World Report about what people should expect to see…

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Posted in The Bottom Line, Featured Post, State & Local Strategies, Corporate Income Tax, Income and Franchise, Nexus, Personal Income Tax, Property and Other State/Local Tax Issues, Featured Content

New York Employers: Is the Employer Compensation Expense Tax A Trick or Treat?

In April of this year, New York Governor Cuomo signed the 2018-2019 Fiscal Year budget. The Budget adopted the Employer Compensation Expense Tax (ECET) in an attempt to offset the Tax Cuts and Jobs Act (TCJA) $10,000 state and local tax (SALT) deduction limitation and its potential negative effect on individual taxpayers…

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

Get your (inventory) act together

Infographic: Minimize inventory and reap multiple benefits.

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

Tax-free fringe benefits help small businesses and their employees

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options. Insurance Businesses can provide their employees with various types of insurance…

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Posted in Alerts, Featured Content

MWE’s Tracey Segarra named as a LIBN Top 50 Woman

Congratulations to MWE’s Director of Marketing Tracey Segarra who was honored as a 2018 Long Island Business News Top 50 Woman in Business. Tracey was recognized for building a community of true story lovers on Long Island with her venture, “Now You’re Talking!” – A Story Telling show, which showcases compelling, true stories live…

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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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