On May 12, 2025 the House Ways and Means Committee released draft tax reform legislation, also known as “The One, Big, Beautiful Bill.” Important to note immediately is that this bill is just the first draft – it still needs to go through a mark-up process, as well as...
In today’s fast-paced and unpredictable business environment, the ability to adapt has become a crucial strategy for survival and success. Business adaptability refers to an organization’s capacity to respond swiftly and effectively to changes in market conditions,...
Family offices, which manage the wealth, financial affairs, and personal matters of high-net-worth families, handle vast amounts of sensitive financial data, personal identification details, and private family information. This makes them a prime target for...
Tax planning is an essential component of managing and growing family wealth. For affluent families, with their complex financial portfolios, diverse asset classes, and multi-jurisdictional investments, understanding the intricacies of tax laws and strategically...
For many taxpayers there can be some reluctance or notable disappointment when their accountant mentions that they may need to file an extension – to them it feels like they are saying a “four letter word” and doing something wrong. Extensions should not be looked at...
New in 2024 was the Financial Crimes Enforcement Network (FinCEN) enforcement of the Corporate Transparency Act (CTA), which starting January 1, 2024 required privately held Reporting Companies to report their Beneficial Owners and Substantial Control individuals....
Contact: Kelli-Anne CeriniMarketing ManagerCerini & Associates, LLPP: 631-582-1600 ext. 401E: [email protected] IMMEDIATE RELEASE Cerini & Associates, LLP Announces Exciting Promotions January 16, 2025 – Bohemia, NY – Cerini & Associates, LLP, — a...
On December 3, 2024, a Federal judge in district court issued a nationwide injunction on the new Beneficial Ownership Information (BOI) Reporting under the Corporate Transparency Act (CTA) in the case Texas Top Cop Shop, Inc. et al., v. Garland et al. The court ruled...
Technology companies face unique challenges when it comes to revenue recognition for financial accounting or “book” purposes under ASC 606. The complex and nuanced nature of ASC 606 has been discussed elsewhere in this guide. For income tax purposes, ASC 606 has a...