Affluent buyers are feeling bullish about housing, as luxury home sales skyrocket, Bloomberg reports. Million-dollar homes in the U.S. are selling at double their historical average, according to data released by the National Association of REALTORS®. Sales of homes that cost $1 million or more increased 7.8 percent in March compared to a year earlier. […]

The recovery in the U.S. property market has proved to be choppy. National home prices still haven't returned to 2005 levels, according to David Blitzer, chairman of the index committee at S&P Dow Jones Indices, who cites both new and existing home sales. “Many people predicted a huge surge in 2014, and we’re not quite […]

Mississippi and California Rack up the Largest 12-Month Gains, Montana and Ohio Have Biggest Declines; Indiana and California Top Monthly Rankings, While Kentucky and Arizona Shed the Most Jobs in November Construction firms added jobs in 39 states over the past 12 months, while employment nearly stabilized in the remainder, according to an analysis released […]

A data breach is like an auto accident. When you have a serious automobile accident, you have to report the accident to the local policing authorities. The police could make a determination as to who is at fault and citations and fines could be issued. Of course, you want to report the accident to your […]

Please RSVP to mwolf@smolin.com 

FASB and IASB have new accounting standards that converged the 2 sets of standards – and will change the way many U.S. companies recognize revenue on their financial statements. This convergence of standards could have a significant impact on existing processes, reporting and systems for revenue recognition. FASB’s Revenue Recognition changes may impact a number […]

By BDO In 2013, long-term care providers sustained more than $7.7 billion in allowable costs, which weren’t reimbursed by the Medicaid program, according to a report from the American Health Care Association/National Center for Assisted Living. Analysts at Bloomberg Industries report the pharmaceutical industry lost more than $60 billion in revenue to cheaper generic competition […]

Starting in 2013, some taxpayers may be subject to the Net Investment Income Tax. You may owe this tax if you have income from investments and your income for the year is more than certain limits. Here are four things from the IRS that you should know about this tax: 1. Net Investment Income Tax.  […]

As a new Smolin Lupin associate, 2014 was my first, official tax season.  In truth, I’ve worked a couple of tax seasons prior.  In High School, I interned with a small private firm where I collated, scanned, copied and observed the process of tax season.  Later, as a college senior at William Paterson University, I […]