Insight

Infographic: 5 ways to dramatically reduce personal spending this year.

Today’s real estate market holds win-win opportunities for both private equity and closely held property owners. As with any business arrangement, however, successful partnering requires that both types of entities understand the nuances of their agreement up front. Here’s what to keep in mind to ensure a mutually profitable outcome.

Now that 2019 has begun, there may not be too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return. Because the Tax Cuts and Jobs Act (TCJA), which was signed into law at the end of 2017, likely will have a major impact on…

December highlights from The MWE Advisor: IRS releases 2019 calendars including the employment tax calendar; The deductible mileage rate for business driving is increasing this year.

Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you also must look out for your own financial future. For example, you need to develop an exit strategy so that…

When filing taxes, one of the initial decisions you’ll make is whether or not to take the standard deduction or itemize your deductions. U.S. News & World Report caught up with MWE tax partner Lance Christensen to discuss the benefits and pitfalls of this important decision.  

With two weeks to go until the New Year, now is the time for businesses and individuals to reach for low-hanging fruit in end-of-year tax planning. While the new tax law reduced the corporate tax rate from 35 to 21 percent, many small- and mid-size businesses still benefit from pass-through entity status. The tax ramifications…

Our Garden City office is located right next to Roosevelt Field Mall, which has many options to choose from for lunch or dinner. So we just had to ask one last question…

With slowly rising interest rates, many middle-market businesses are reevaluating their borrowing options. Before closing the deal, it’s important to fully understand the differences between traditional and alternative funding sources. Here’s a look at each. Alternative Lending While the market is still strong, many businesses are considering selling before valuations dip. For prospective buyers, nontraditional…

Busy season is quickly approaching. Hear what Chris and Anthony shared about what surprised them most about their first busy season.

Ever since the recession altered the real estate economic landscape, private equity firms have been gaining a strong foothold in the real estate world. Usually, it’s a win/win for both sides. Developers get the cash they need to buy and build. Private equity firms attract investors and earn healthy returns. But there are pitfalls. Read More

In addition to participating in internal events, our people love getting out in the open air and enjoying out-of-the-office activities, too.

Starting your first year in public accounting can definitely be a challenge. But never fear, our class of 2017 is here to tell you what they wish they knew before starting their professional careers!

Infographic: Five signs that a “charity” might be fraudulent.

Building a community and family is an important part of MWE’s mission and we host many events for the staff throughout the year. Listen in as Jesse, Anthony, and Christine share some of their favorites!

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…

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.

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…

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.

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.

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…

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…

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…

Infographic: Minimize inventory and reap multiple benefits.

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…

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…

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…

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…

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.    

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…

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…

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.

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!

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…

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.