By MarksNelson on October 11, 2018Lots of careers are risky—and frankly, no career is risk-free. But when it comes to a business that can fail seemingly at the tip of a hat, for any number of reasons, real estate contracting sits at the top of many people’s list. Indeed, being a contractor is one of the riskiest careers around.
By MarksNelson on September 5, 2018Each year millions of taxpayers claim an income tax refund. Receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash, but it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your money.
By MarksNelson on September 5, 2018When was the last time you benchmarked your manufacturing operation against your competition? Are you aware of how your revenue stacks up against your peers? If you have not used benchmarking, it can be difficult to know how to price your products.
By MarksNelson on June 22, 2018For years, consumers have been held responsible for reporting and remitting use tax on purchases where sales tax was not collected. This shifts the burden to the seller to collect the sales tax when the transaction is consummated.
The IRS has identified transfer pricing as one of its top audit issues, and the same holds true for other revenue-strapped tax authorities. Don’t put your company at risk for incurring steep penalties of 20% – 40% on transfer pricing adjustments by not being in compliance.
You’re probably familiar with the term “crunch the numbers.” Well, in a tumultuous industry like construction, it’s all too easy to let crisp, timely financials go soggy with outdated data and flat-out mistakes. Here are six common accounting mistakes to avoid.
Treating a client, or prospective one, to a Royals game long has been a good way to build relations. The fact that the tickets qualified for a 50 percent tax deduction never hurt, either. But the deductibility of those tickets, along with tickets to other sporting events and concerts, is one of the losses from the tax reform package passed at the end of 2017. That will cause some business owners to reexamine the value of those investments.
By MarksNelson on May 4, 2018If you own property and a business, there’s an obvious temptation to lease that property to the business. Such an arrangement can make sense from many perspectives.
By MarksNelson on May 4, 2018If you own a business or work in a business, chance are that at some point, you’ve engaged in business-related entertainment of some sort. If so, you’ve probably reported those entertainment expenses as deductible on your taxes.
By MarksNelson on April 20, 2018Jennifer Katrulya, a CPA and Practice Leader of the Entrepreneurial Services Group of MarksNelson, LLC, has been accepted into the Forbes New York Business Council, the foremost growth and networking organization for small business owners and leaders in the Greater New York City area.
There is no substitute for personal attention. It enables us to truly connect, so we can understand your perspective, anticipate your needs and provide the best solutions. That means real conversations, not impersonal emails.
At MarksNelson, we think curiosity is a virtue. After all, any accountant can focus on your numbers. We get down to business by first learning yours, inside and out. Our associates work to understand not only what you do, but why you do it.
The team at MarksNelson believes that the smallest point can be just as important as your biggest line item. Our goal is to deliver a quality product, prepared with great attention to detail and accuracy. Whatever industry you are in.
We work to be vigilant with everything we do. But why? The truth is... every firm says they will put you first. MarksNelson does more, by keeping on track and informed. We want to collaborate with you to provide you with the solutions that you need.
At MarksNelson we are always hiring and seeking new talent. Click below for available positions.
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