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New IRS Partnership Audit Rules 150 150 smolinlupinco

New IRS Partnership Audit Rules

The IRS will now require all entities taxed as partnerships, to pay for imputed taxes from audits. This will apply for prior tax years at the partnership level as well as for tax years beginning after January 1, 2018 (26 USC Section 6221). A partnership, for federal tax purposes, is any company that elects to…

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Software Development Produces Significant Tax Benefits for Manufacturers 150 150 smolinlupinco

Software Development Produces Significant Tax Benefits for Manufacturers

By Rick Schreiber, Chai Hoang and Chris Bard Last year, over 6,000 manufacturers claimed more than an estimated $10 billion in research tax credits (RTCs), with each manufacturer’s average benefit exceeding $1 million. Generated in part by manufacturers’ efforts to develop new and improved products and processes, these benefits were also generated by their continued…

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Advanced Software Checklist: 4 Steps Manufacturers Should Take Before Investing in ERP in Industry 4.0 150 150 smolinlupinco

Advanced Software Checklist: 4 Steps Manufacturers Should Take Before Investing in ERP in Industry 4.0

By Eskander Yavar The arrival of Industry 4.0, or the fourth industrial revolution, signifies the next era in manufacturing, in which plants, processes, products and people come together in an entirely new way, enabling decentralized, autonomous decision-making on factory floors. Sometimes used interchangeably with the “Industrial Internet of Things”—a term coined by GE CEO Jeff…

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How Quality of Earnings Can Drive Value To Your Manufacturing Enterprise 150 150 smolinlupinco

How Quality of Earnings Can Drive Value To Your Manufacturing Enterprise

By Jerry Dentinger & Ryan McCaslin Dealmaking in the manufacturing industry is poised to accelerate in 2017, buoyed by investor optimism around proposed pro-growth economic policies. Despite the modest slowdown in volume last year, multiples and valuations stayed high going into 2017. Therefore, buyers remain laser-focused on understanding a target’s profitability model to justify the…

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Cyber Crime: FBI Warns of Wire-Transfer Fraud 150 150 smolinlupinco

Cyber Crime: FBI Warns of Wire-Transfer Fraud

One of our clients was recently a victim of a spoofed email involving a wire transfer fraud.  Because of this, we thought that all of our clients and business contacts should be reminded of the internet dangers posed by cyber criminals. The FBI has recently reported a dramatic increase in cyber related crimes involving spoofed…

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AICPA Issues New Broker-Dealer Revenue Recognition Implementation Issue 150 150 smolinlupinco

AICPA Issues New Broker-Dealer Revenue Recognition Implementation Issue

SUMMARY On March 1, 2017, the American Institute of Certified Public Accountants (AICPA) issued a working draft aimed at helping broker-dealers apply the new revenue recognition standard when accounting for the costs associated with underwriting services on either a gross (principal) or net (agent) basis. The new working draft, Issue #3-3: Principal vs. Agent: Costs Associated…

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2017 Sec and Finra Regulatory Examination Priorities 150 150 smolinlupinco

2017 Sec and Finra Regulatory Examination Priorities

Earlier this month the SEC and FINRA released their respective examination priorities for 2017— please see a brief overview and link to the releases below. FINRA Five Areas of Regulatory Focus FINRA CEO Robert Cook calls this year’s priorities “a focus on core blocking and tackling issues of compliance, supervision and risk management.” Here are…

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Student Loans: Debt, Repayment & Default 150 150 smolinlupinco

Student Loans: Debt, Repayment & Default

“It’s amazing. Life changes very quickly, in a very positive way, if you let it.”– Lindsey Vonn, Athlete The cost of higher education continues to rise. In the United States and Canada, borrowers owe more than 1.2 trillion dollars in student loan debt. More than 7 million borrowers are in default. It is important for…

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Driver’s License Numbers on Tax Forms: Not Mandatory in NJ, Mandatory in NY 150 150 smolinlupinco

Driver’s License Numbers on Tax Forms: Not Mandatory in NJ, Mandatory in NY

Provided by NJCPA. The New Jersey Division of Taxation has confirmed that taxpayers will not be required to provide driver’s license numbers on their paper or electronic New Jersey tax forms during the 2017 filing season. It will remain optional to provide that information. However, be aware that certain tax software programs may still require…

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Refinance or Purchase up to 97% with No Mortgage Insurance 150 150 smolinlupinco

Refinance or Purchase up to 97% with No Mortgage Insurance

  “I will prepare, and someday my change will come.” – Abraham Lincoln, 16th President of the United States If you currently have an FHA Loan or Conventional Loan with mortgage insurance or are looking to buy a home with less than a 20% down payment (which normally requires mortgage insurance), please call me to…

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Do You Need a Life Insurance Audit? 150 150 smolinlupinco

Do You Need a Life Insurance Audit?

“I’m on board! Yes, I’d like a life insurance audit. But really, what is it, and why do I want it?” Does that describe your reaction to this title? You may not be alone. Life insurance has long held that mysterious scent of a wild thing, best left to the conquest of others. Let’s see…

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2016 Year-End Tax Planning Advice 150 150 smolinlupinco

2016 Year-End Tax Planning Advice

As we get closer to the end of yet another year, it’s time to tie up the loose ends and implement tax saving strategies. With the fate of many of the long-favored tax breaks (so-called extenders) having been settled late last year, this year’s planning should be easier—at least more certain tax-wise—than it has been…

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