Insight

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company news from MWE.
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Posted in The Bottom Line, Featured Post, Accounting & Auditing, Featured Content

How to report COVID-19-related debt restructuring

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Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex accounting rules for troubled debt restructurings (TDRs). Here are the details.

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

Tax implications of working from home and collecting unemployment

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COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations.

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

Who got Paycheck Protection Program loans and for how much?

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Infographic: A look at Paycheck Protection Program loan numbers.

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Posted in Featured Content, Newsletters

MWE Advisor August Highlights

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August highlights from The MWE Advisor: Some companies may qualify for a refund if they amend previous tax returns with net operating losses; Five mid-year tax planning ideas for small business owners; The FASB issued guidance that defers the effective dates of the updated standards on leases and revenue recognition rules for certain entities.

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

5 common accounting software mistakes to avoid

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No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their current solutions, however, business owners often fall prey to some common mistakes. Here are five gaffes to avoid:

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Posted in Alerts, Featured Content

Margolin, Winer & Evens LLP Names Todd DeLuca Partner

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DeLuca specializes in the manufacturing and distribution, real estate industries   As part of its continued transition to a new generation of leadership, CPA and business advisory firm Margolin, Winer & Evens LLP announced the admittance of Todd DeLuca, CPA, to the partnership.

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

The possible tax consequences of PPP loans

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If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications.

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

You don’t have to be a detective to find fraud

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Infographic: What are the most common ways companies uncover occupational fraud?

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Posted in Articles, Featured Content

Proposed Like-Kind Exchange Regulations Clarify What Property Qualifies for Tax Deferral Under Section 1031

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On June 12, 2020, the IRS released proposed regulations that once finalized would clarify a few key factors for taxpayers participating in like-kind exchanges after the enactment of the Tax Cuts and Jobs Act (TCJA). Under Section 1031 of the Internal Revenue Code, taxpayers can defer gain recognition on sales of…

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

Even if no money changes hands, bartering is a taxable transaction

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During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash for them. If your business gets involved in bartering, remember that the fair market value of goods that you receive in bartering is taxable income. And if you exchange…

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

For additional funding, take a stroll down main street

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If your business didn’t qualify for a PPP loan, you may want to check out the Federal Reserve’s new Main Street Lending Program.

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Posted in Featured Content, In The News

Here’s what happens to your PPP loan if your small business fails

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Millions of small businesses impacted by the coronavirus pandemic have received relief via Paycheck Protection Program and Economic Injury Disaster loans, but according to a survey, many of them still don’t expect to survive. In a recent CNBC.com article, MWE partner Paul Becht discusses what could happen to you and your loan(s) if your…

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

Decoupling from the CARES Act New York City Style – The Sequel

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Late last Wednesday, Governor Cuomo signed legislation, A10519/S08411, that decoupled additional provisions from the CARES Act for New York City Business Taxes.  The legislation may have personal income tax considerations because the legislation has provisions that apply to New York City pass through entity level taxes. The…

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

NYS Decoupling from CARES Act – Section 163(j) Limitation – How to Make Complicated More Complicated

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In our two previous posts on the New York State Budget’s Decoupling {“Decoupling”}, we discussed the myriad of implications arising from the Decoupling that focused on the Personal Income Tax as well as Pass Through Entity (PTE) ramifications to the extent the Decoupling’s affects would be required to be reflected by PTEs for…

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Posted in Articles, Featured Content

PPP Flexibility Act eases rules for borrowers coping with COVID-19

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Back in April, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the PPP is generally available to U.S. businesses with fewer than 500 employees. In its…

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

Student loan debt by the numbers

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Infographic: How much student loan debt do Americans have? The number is staggering.

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Posted in Alerts, Featured Content

Webinar: PPP – Forgiveness, Extensions & More

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On June 5th, changes to the Paycheck Protection Program were signed into law by President Trump. Join MWE Partner Paul Becht and Brian Califano, Managing Partner at AcceleratingCFO, on June 10th as they discuss the changes, guidance released on loan forgiveness, and more during their complimentary webinar.

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Posted in Featured Content, In The News

Why Confusion Still Reigns Over PPP Loan Forgiveness

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Many businesses hit by the pandemic have expressed their confusion with Paycheck Protection Program (PPP) benefits and guidelines, including loan forgiveness. Financial Advisor Magazine recently tapped MWE partner Paul Becht to shed light on some of the rules that are bewildering businesses.    

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

Student loan interest: Can you deduct it on your tax return?

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The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with student loans have been hard hit. The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers with federal student loans. Notably, federal loans were automatically placed in an administrative forbearance, which allows borrowers to temporarily stop making…

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Posted in Featured Content, In The News

House bill gives small businesses more time to use PPP loans and lets them spend less on payroll

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Last week, the U.S. House of Representatives passed a bill to improve the flexibility of the Paycheck Protection Program. While the bill heads to the Senate, CNBC.com connected with MWE partner Paul Becht to discuss its key provisions, including loan-forgiveness rules and how they could impact small businesses.    

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Posted in Alerts, Featured Content

MWE Named a Forbes Best Tax & Accounting Firm

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MWE was recently named a Forbes Best Tax & Accounting Firm in America, landing on their inaugural 2020 list. MWE was one of over 200 firms recognized in the tax category out of 18,000+ tax & accounting firms.

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Posted in Featured Content, Videos

MWE Moves – Follow us on our journey

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Follow us on our journey from our old office to our new home at RXR Plaza.

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Long Island

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T 516.747.2000 // F 516.747.6707

New York City

757 Third Avenue, Suite 2002, New York, NY 10017
T 212.973.1000 // F 212.973.1004

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George Town, Grand Cayman, Cayman Islands, B.W.I