Insight

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.

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…

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.…

August highlights from The MWE Advisor: The landmark case of South Dakota v. Wayfair opens the door for states to impose sales and use tax on remote sellers. C Corporations have options to reduce their federal income tax bill for 2018.

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…

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…

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

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…

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…

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…

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.

With its many changes to individual tax rates, brackets and breaks, the Tax Cuts and Jobs Act (TCJA) means taxpayers need to revisit their tax planning strategies. Certain strategies that were once tried-and-true will no longer save or defer tax. But there are some that will hold up for many taxpayers. And they’ll be more…

Built into the Tax Cuts and Jobs Act is a provision stripping out the 50 percent deduction for business entertainment expenses, like taking clients to sporting events. MWE Partner Lance Christensen talks to The New York Times about the impact this may have on businesses and sports teams’ future ticket sales.    

Angel investors reportedly pour $24 billion into 64,000 U.S. companies each year. If your start-up is hoping to attract financing from one of these individuals, check out our new infographic to see what piques their interest.

          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

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…

“I don’t have any evidence that people have changed their minds about [entertaining their clients]. But these types of things usually have an impact,” said MWE Partner Lance Christensen in this Long Island Business News article. “People may not go to some of these business entertainment functions or they may get fewer tickets or…

Major League Baseball attendance has dropped over the past few seasons and experts blame the weather, noncompetitive teams, and the pace of the game. But MWE Partner Lance Christensen offers another theory to CBS Local: Starting next season, attendance might continue to drop if companies stop buying tickets to entertain clients now that the…

Starting a business is risky – one in five new companies don’t survive the first year, and only about half are still around after five years. MWE Partner Al Materazo talks to Long Island Business News about common mistakes that small business owners often make.    

For developers able to navigate the city’s unfolding new rules, the New York skyline offers an enticing tax break. New York’s 421-a property tax exemption lapsed in early 2016, amid escalating concerns that developers weren’t providing adequate affordable housing in exchange for tax breaks, but it was officially renewed as “Affordable New York” in April…

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…