It is a proven fact that more than 50% of credits and incentives go unclaimed annually. Marcum wants to ensure that these opportunities are never missed. Our professionals have extensive experience identifying and securing credits and incentives in every industry segment.
Marcum's Tax Credits and Incentives Services practice can help your business reduce costs, generate refunds and provide the advice to unlock and secure favorable incentives packages. We can help identify tax and non-tax savings opportunities for job creation, research, training and other qualified expenditures.
Busy companies can overlook non-traditional methods to reduce costs. When operations and the general business climate run at lower levels, opportunities present themselves to utilize tax incentives that impact the bottom line by:
- Avoiding paying unnecessary taxes.
- Obtaining immediate tax refunds.
- Reducing operational costs.
- Improving earnings before interest and tax, net income and shareholder value.
- Enhancing the economic value of company initiatives.
As the CFO or top financial executive, you are called upon daily to effectively manage the use of capital by your organization. An often over looked idea that can provide an enormous benefit to your company is the research and development tax credit. This credit reduces current taxes and secures a refund of previously paid taxes, providing more cash to invest in your business.
At Marcum LLP, we are specialists who investigate Research and Development Tax Credits. Many organizations claim less benefit than they are entitled to or, even worse, believe that they do not qualify because their main business is not research and development. In addition, many states have enacted generous credit programs, some of which are refundable even if you have not paid taxes. Why miss out?
Over the past few years, legislative changes ave expanded the opportunity for many industries to qualify and claim the research credit. Through the research credit, many state and federal governments are providing subsidies for your investment in a product or a process to remain competitive.
DOWNLOAD BROCHURE- Investing in resources for new products or for improving products.
- Investing to develop new or improved manufacturing or service processes.
- Attempting to improve manufacturing efficiency, reduce scrap and implement techniques such as "Lean", "Green" and "Kan-Ban."
- Have Existing or Patents Pending.
- Can provide a source of capital through significant cash refunds of previously paid federal and state taxes. Can reduce your current tax expense, freeing up capital for investment in business, product development and reduction of debt.
- Will make your business more valuable to potential investors or acquirers.
- Alternative Minimum Tax (AMT) relief - $50 million and under ( average sales).
- Payroll tax expense refund/reduction.
- State governments have enacted generous credit programs to attract world class businesses. Many of these state credits are refundable regardless of whether taxes were paid or not. Additionally, some allow their credits to be sold.
*States have unique qualifying limitations.
Construction Services
- $1B Construction Management – Saved over $1.0 million
- $200M Construction Services – Saved over $200,000
- $40M Mechanical Contractor – Saved over $60,000
Consumer Products and General Manufacturing
- $75M Food manufacturing company – Saved over $700,000
- $50M Bakery – Saved over $150,000
- $15M Specialty game manufacturing – Saved over $75,000
- $35M Consumer product design firm – Saved over $350,000
Architecture, Design & Engineering Service Firms
- $400M Architectural service firm – Saved over $400,000
- $75M Engineering service firm – Saved over $1.2M
Financial Services
- $75M Bank – Saved over $150,000
- $400M Financial services firm – Saved over $750,000
- $150M Specialty service bank – Saved over $200,000
Pharmaceutical and Life Sciences
- $30M Nutraceutical development and manufacturing company –Saved over $125,000
- Start up Pharma company – Saved over $200,000
- Start up in Pharma basic research – Saved over $300,000 in refundable state of NY Qualified Emerging
Technology Credits
- $10M Biomedical device manufacturer – Saved over $700,000
Software Development
- $12M software content designer and developer - Saved over $1.5M
- $25M software content designer – Saved over $350,000
- $75M specialty software content developer – Saved over $1.2M
- VC backed software content developer – Saved over $500,000
Every tax year, hundreds of millions of dollars are unclaimed by taxpayers from the U.S. Treasury, for specific "payroll-based" tax credits. These tax credits are available to all U.S. taxpayers that have employees who are paid via Form W2.
The Work Opportunity Tax Credit ("WOTC") is a payroll-based tax credit that is often overlooked. The process to claim the tax credit can be burdensome. To claim the WOTC, the taxpayer must hire a qualified employee from one of 10 target groups, and specific forms must be filed with the state's WOTC Coordinator within 28 days from date of hire. The credit amount can range from $2,400-$9,600/employee depending upon which target group the qualified employee is part of. Marcum's Tax Credit and Incentives Group provides all WOTC processing, vouchering and management to capture the credits. The TCI Group utilizes MarcumSecure, the Firm's encrypted information transfer system which ensures that data sent between Marcum and its clients is secure.
Example of WOTC Savings:
- Total New WOTC Hires: 10
- Total Average WOTC Credit Per Year: $2,400
- Total Current Year Tax Credit: $24,000
The Federal Empowerment Zone ("FEZ") Tax Credit was created in 1996 by the Clinton Administration. There are 40 federal Empowerment Zones located within the U.S. The FEZ credit has a history of expiring, retroactively being extended and extended again. Most recently, the FEZ expired on December 31, 2016 and is still awaiting extension. The FEZ was typically included in Congress's tax extender legislation in previous years. The Trump Administration has made no public comment on its view of the FEZ. There are amended return opportunities that may exist for the 2013-2016 tax years. The credit amount is equal to 20% of the first $15,000 in wages paid, being capped at $3,000 per employee, per year. The employer and employee must reside within the Empowerment Zone and the employee must work in the FEZ. Exempt businesses such as golf courses, gaming venues, and liquor stores are not eligible for this tax credit. Marcum's TCI group can determine whether your business is in the FEZ and estimate what your refund potential might be. Marcum's TCI group manages the entire process to capture all qualified tax credits for you and your business.
Example of FEZ Refunds:
- Total Employees in FEZ: 150
- Qualified FEZ Employees: 15
- Tax Credit Per Employee: $3,000
- Total Tax Credits Claimed Per Year: $45,000
- Total Credits per All Qualified Amended Returns: $135,000
Related News
May 25, 2018
As Seen In
The New York Times quoted Partner Barry Fischman in an article about the 179D tax deduction for the construction of certain energy efficient building systems.
Over the past decade, hundreds of public projects have benefited from a federal incentive meant to encourage investments in energy‐efficient technology.
April 23, 2018
As Seen In
Newsday quoted national Tax Leader Joseph Perry in an article about the windfall to New York’s U.S. Senators Chuck Schumer and Kirsten Gillibrand under the new tax law.
New York's Democratic senators - who publicly release their returns each year - will likely owe thousands of dollars less tax for 2018 thanks to ....
April 12, 2018
As Seen In
CNBC spoke with national Tax Leader Joseph Perry about how to mine your 2017 tax return for savings opportunities in 2018.
This spring, don't just stuff your completed tax return into a drawer. Go through it for savings opportunities you can seize right now.
March 21, 2018
Tax Flash
Farewell to the Offshore Voluntary Disclosure Program: The IRS Pulls the Plug
In spite of its many iterations since 2009 and the 56,000 new taxpayers with their $11 billion added to Internal Revenue Service coffers, on September ....
March 19, 2018
As Seen In
Long Island Business News interviewed Tax Leader Joseph Perry for an article about the new tax treatment of stock options granted to executive employees earning more than $1 million.
While a corporate tax cut that brought the top rate down from 35 percent to 21 percent is widely seen as the centerpiece of the ....
March 13, 2018
As Seen In
Inc. magazine quoted Philadelphia Tax Leader Ed Reitmeyer in an article about errors in the new federal tax law that could cost taxpayers big money.
Many entrepreneurs have celebrated President Trump's signature legislative achievement, the 2017 Tax Cuts and Jobs Act, for decreasing their annual tax bills.
March 01, 2018
As Seen In
The Tax Adviser published an article co-authored by Tax Director Don Zidik, about recent developments in individual taxation.
This article is a semiannual review of recent developments in the area of individual federal taxation, including issues of deductible alimony, trade or business expenses, ....
February 27, 2018
Tax Flash - Tax Return Compliance
FASB's Q&A Guidance on the Impact of Tax Reform on Financial Accounting
After the Tax Cuts and Jobs Act was passed, concerns were raised to the Financial Accounting Standards Board regarding implementation of certain provisions of the ....
February 26, 2018
Tax Return Compliance
New Tax Treatment of Alimony
Of the many changes for individual taxpayers wrought by the Tax Cuts and Jobs Act of 2017, one of the most sensitive is the new ....
February 23, 2018
As Seen In
The New York Times quoted national Tax Leader Joseph Perry in an article discussing the complexities and confusion created by the Tax Cuts & Jobs Act, and the likely battles yet to come in Congress.
Never mind that once in a generation tax bill that just passed last year. Congress is headed for years more of big fights over taxes, ....
February 21, 2018
Tax Flash - Tax Return Compliance
The Impact of Tax Reform on Financial Accounting
On December 22, 2017, the Tax Cuts and Jobs Act, was signed into law. The Act will have a significant impact on financial reporting issued ....
February 19, 2018
Tax Incentives
Commercial Building Energy Tax Incentive Extended for 2017
Early in the morning on February 9, 2018, to avert an impending government shutdown, Congress passed a large omnibus budget titled the Bipartisan Budget Act ....
February 16, 2018
As Seen In
Long Island Business News wrote about the advice Marcum panelists gave to businesses considering restructuring as C-corps, during the Firm’s recent tax reform seminar in Melville.
Much of the Marcum seminar focused on the taxation differences between C‐corps and pass‐through entities, which include partnerships, S‐corporations, limited liability companies and sole proprietorships.
February 15, 2018
Tax Flash - International Taxation
New IRS Directives Issued for Transfer Pricing Examinations
On January 12, 2018, the Large Business and International Division of the Internal Revenue Service issued five directives which provide instructions on how IRS agents ....
February 13, 2018
Tax Flash - Tax Return Compliance
Bipartisan Budget Act of 2018
The Bipartisan Budget Act of 2018, enacted last Friday, February 9, contains a number of tax breaks for both individuals and businesses. These include the ....
February 12, 2018
As Seen In
The Hartford Business Journal quoted Connecticut Tax Partner-in-Charge Brett McGrath, in an article about the impacts of the Tax Cuts & Jobs Act of 2017.
More than 30 years after digesting the last major federal tax overhaul, Connecticut accountants and legal advisers working to interpret the latest changes to the ....
February 12, 2018
As Seen In
The Hartford Business Journal published a column by Tax Services Director Marla Esan about the impacts of the Tax Cuts & Jobs Bill for nonprofit organizations.
Like every sector, nonprofits won some and lost some in the Tax Cuts & Jobs Act. Here is a brief summary of the provisions impacting ....
February 09, 2018
As Seen In
CNBC quoted Tax Principal Michael D’Addio in an article about adjusting paycheck withholdings to comply with the new tax rates for individuals.
In January, the Treasury Department released its income tax withholding tables, updated to reflect changes stemming from the Tax Cuts and Jobs Act. The new ....
February 05, 2018
As Seen In
Bloomberg News quoted Ed Reitmeyer, Philadelphia partner-in-charge of Tax Services, in an article about tax strategies for owners of pass-through businesses under the new tax law.
If exploiting a tax loophole is as much an art as a science, then the tax planning profession is poised for a creative renaissance. The ....
January 31, 2018
As Seen In
Workandmoney.com interviewed Tax Partner Diane Giordano for an article about what the new tax law means for small businesses.
The new tax law became both the beauty and the beast for companies of all sizes across the country when 2018 officially opened for business.
January 30, 2018
As Seen In
Fox Business spoke with Tax Principal Michael D’Addio about the need to adjust paycheck withholdings under the new tax law.
As employees begin to receive their updated paychecks based on the new tax code changes, many are seeing incorrect withholding amounts, which could lead to ....
January 30, 2018
As Seen In
Long Island Business News reported on the Marcum tax panel the publication’s editor is co-moderating with Melville Office Managing Partner Carolyn Mazzenga.
Long Island Business News Editor Joe Dowd and Marcum Melville Office Managing Partner Carolyn Mazzenga are set to moderate a series of panel discussions tonight ....
January 30, 2018
As Seen In
Bloomberg’s Talking Tax podcast invited Tax Principal Michael D’Addio onto the show for a discussion about whether the new tax law will drive pass-through entities to convert to C-Corporation status.
The new tax law lowers the corporate tax rate to 21 percent—a change that some lawmakers have suggested could prompt pass-through entities to convert to ....
January 29, 2018
As Seen In
Long Island Business News quoted State & Local Tax Leader Paul Graney in an article about options New York State is considering to counter the regional tax impact of the federal Tax Cuts & Jobs Act.
Facing new federal rules that limit state and local tax deductions, New York and California are considering options to give their residents a big federal ....
January 29, 2018
As Seen In
CFO.com published an article by Tax Leader Joseph Perry and Tax Principal Michael D'Addio, discussing the pros and cons of C-corporation v. pass-through entity status under the new tax law.
A 21% income tax rate might sound appetizing to some pass-through entities, but C-corporation status doesn't suit every organization.
January 24, 2018
As Seen In
Associated Press quoted Tax Principal Michael D’Addio in an article about how small businesses are capitalizing on the new tax law.
Although there are still many unknowns about the tax law that took effect Jan. 1, some small business owners have already figured out that they ....
January 19, 2018
Tax Flash - State & Local Taxation
U.S. Supreme Court Will Hear South Dakota's Sales Tax Case
On January 12, 2018, the United States Supreme Court decided that it will hear a South Dakota case (State of South Dakota v. Wayfair Inc., ....
January 11, 2018
Tax Flash - Tax Return Compliance
The Alternative Minimum Tax for Individuals is Here to Stay
The Tax Cuts and Jobs Act of 2017 made numerous changes to individual taxation, including to the Alternative Minimum Tax.
January 10, 2018
Tax Flash - Tax Return Compliance
What's Happening to My Itemized Deductions?
On December 22, 2017, President Donald Trump signed the Tax Cuts & Jobs Act into law, changing the entire U.S. tax landscape. A major component ....
January 09, 2018
Tax Flash - Tax Return Compliance
2018 Tax Filing Season Begins January 29
The Internal Revenue Service announced that the nation's 2017 tax season will begin Monday, January 29, 2018. This is to ensure the security and readiness ....
January 05, 2018
Tax Flash - Tax Return Compliance
Due Dates for Business and Individual Income Taxes for the 2018 Tax Year
As the filing season for the 2017 tax year begins, it is important to remember when the applicable returns must be filed.
January 04, 2018
Tax Flash
IRS Issues Update to Standard Mileage Rates
The Internal Revenue Service has issued the 2018 updates to the optional standard mileage rates for taxpayers to use in computing the deductible costs of ....
December 28, 2017
As Seen In
The Orange County Register quoted Partner Warren Hennagin in an article about the deductibility of home equity lines of credit under new IRS rules.
If you have an existing home equity line-of-credit or second mortgage, do you have to fold that into a new first mortgage for it to ....
December 26, 2017
Tax Flash - The Tax Cuts and Jobs Act
New York Governor Issues Executive Order Authorizing Prepayment of Property Taxes
On December 22, 2017, New York State Governor Andrew Cuomo issued an emergency Executive Order authorizing local governments to issue warrants for the collection of ....
December 22, 2017
As Seen In
Fox Business invited Tax Leader Joseph Perry onto Closing Bell to discuss prepaying certain 2018 expenses before the end of 2017.
Fox Business invited Tax Leader Joseph Perry onto Closing Bell to discuss prepaying certain 2018 expenses before the end of 2017.
December 22, 2017
Tax Flash - The Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act is Now Law
President Trump signed this legislation into law today. The act is the most significant tax legislation since the Tax Reform Act of 1986.
December 21, 2017
As Seen In
Inc. magazine interviewed Ed Reitmeyer, Philadelphia partner-in-charge of tax and business services, about the tax advantages of C corporations versus pass-through entities.
Edward Reitmeyer, a partner at the Philadelphia accounting firm Marcum LLP, typically prepares between 800 and 1,200 tax returns for small business clients each year.
December 21, 2017
As Seen In
The Cooperator spoke with Tax Partner Peter Buell about how tax reform will affect New York City condo and coop owners.
President Trump signed into law a major $1.5 trillion tax plan that Congress had earlier passed, the first re-writing of our tax laws in over ....
December 21, 2017
Tax Flash - Tax Reform
The Tax Cuts and Jobs Act is Finally Here, No More Do Overs
This week, Republicans agreed on a final version of the tax reform bill and filed a conference agreement on December 15, 2017.
December 21, 2017
As Seen In
Associated Press spoke with Tax Leader Joseph Perry about the impact of the new tax bill on the accounting industry.
From New York to Kentucky to Florida, accountants and tax lawyers are scanning the 1,000 page measure, fielding a swirl of questions from clients and ....
December 20, 2017
As Seen In
The Los Angeles Times published a follow-up story in collaboration with Marcum, about how taxpayers in various circumstances would fare under tax reform.
Earlier this month, The Times reviewed tax returns submitted by a handful of readers to see how the House and Senate tax plans would have ....
December 20, 2017
As Seen In
Bloomberg Markets Radio had Tax Leader Joseph Perry on the show to discuss aspects of the new tax reform plan.
Bloomberg Markets Radio had Tax Leader Joseph Perry on the show to discuss aspects of the new tax reform plan.
December 19, 2017
As Seen In
Bloomberg BNA's Daily Tax Report quoted Tax Principal Michael D'Addio in an article about the prospects for wholesale conversions of pass-through entities to C corporate structure.
Some lawmakers had predicted that the steep corporate tax cuts in the Republican tax bill could cause pass-through entities to convert to corporations to take ....
December 19, 2017
As Seen In
The Los Angeles Times interviewed Tax Partner Robert Spielman about 2017 tax strategies that can help in 2018.
Congress was poised this week to pass the most sweeping overhaul of the federal tax code in three decades. The Republican legislation, which President Trump ....
December 18, 2017
As Seen In
Long Island Business News quoted Tax Partner Ed Reitmeyer in an article about how corporations will benefit from the tax reform bill.
While both the Republican House and Senate proposals would drastically alter the nation's tax regulations for individuals, changes to the code for business may prove ....
December 18, 2017
Tax Flash - State & Local Taxation
Some State and Local Tax Deduction Advice May No Longer Be Applicable
While we all anxiously awaited the finalizing of the proposed tax legislation, The Tax Cut and Jobs Act, many tax advisors were suggesting clients prepay ....
December 15, 2017
As Seen In
The New York Times quoted Ed Reitmeyer, partner-in-charge of the Philadelphia Tax Services Department, in an article about tax strategies for 2018.
The Senate and the House closed in on a final version of the tax bill on Friday, as Republican leaders stay on track for final ....
December 14, 2017
As Seen In
WCBS-TV 2 interviewed Tax Partner Robert Spielman about pre-paying 2018 state and local taxes to offset the loss of these deductions expected next year.
WCBS-TV 2 interviewed Tax Partner Robert Spielman about pre-paying 2018 state and local taxes to offset the loss of these deductions expected next year.
December 14, 2017
As Seen In
Forbes talked with national Tax Leader Joseph Perry about the advantages of converting a traditional IRA into a Roth IRA in order to benefit from the state and local tax deduction in 2017, before it disappears under tax reform in 2018.
Do you have a big IRA? And live in a soak-the-rich state? Run, don't walk, to your accountant. You've got two weeks left to do ....
December 13, 2017
As Seen In
Associated Press interviewed Ed Reitmeyer, Philadelphia partner-in-charge of tax services, about what small business owners should know about their tax bills.
Some small business owners may pay lower taxes under the Republican tax overhaul, but accountants and consultants will want to read the fine print carefully ....
December 12, 2017
As Seen In
Crain's New York Business asked Tax Leader Joseph Perry about how tax reform is impacting Marcum's business.
With the hand-scribbled ink still wet on Washington's shifting legislative efforts, accounting executives such as Joseph Perry and his team at Marcum are fielding an ....
December 10, 2017
As Seen In
The Los Angeles Times asked Marcum to partner on a project to see how the 2016 tax returns of selected readers would fare under the House and Senate tax reform bills.
Republican tax plans are working their way through Congress. If the House and Senate can agree on a final bill, will you owe more or ....
December 08, 2017
As Seen In
Bloomberg BNA quoted national Tax Leader Joseph Perry in an article about the treatment of the corporate alternative minimum tax in the House and Senate tax bills.
The AMT, a much-hated provision of the tax code, requires corporations and individuals to recalculate their tax liability if they took too many credits or ....
December 08, 2017
As Seen In
Bloomberg BNA quoted national Tax Leader Joseph Perry in a Daily Tax Report story about the taxation of pass-through income under the House and Senate bills.
Pass-through taxation represents one of the biggest rifts between the House and Senate tax reform plans, a difference that will have to be resolved before ....
December 07, 2017
As Seen In
The New York Times quoted Tax Leader Joseph Perry in an article about strategies to prepare for the loss of deductions for state and local taxes and property taxes.
The Senate and House may spend most of the month ironing out the differences in their tax bills. Or they may be delayed by other ....
December 06, 2017
As Seen In
The New York Times interviewed Tax Partner Kurt Koegl about the likely impact of tax reform on real estate investment trusts.
After a frenzy of congressional action to rewrite the tax code, salesclerks and chief executives are calculating their gains. Business was treated with the everyone's-a-winner ....
December 04, 2017
As Seen In
Fox Business interviewed national Tax Leader Joseph Perry for a story about how tax reform will impact homeowners in high-tax states.
Republicans are moving a tax reform bill through Congress that could have both short-and long-term impacts on housing prices and trends. Real estate lobbies are ....
December 04, 2017
Tax Compliance
Tax Cuts and Jobs Act: What Are The Proposed Changes to Depreciation?
The Tax Cuts and Jobs Act was passed by the House of Representatives on November 16, 2017. The Senate Finance Committee also passed its own ....
December 02, 2017
As Seen In
Barron's quoted Family Wealth Services Leader Carolyn Mazzenga in an article about how high net worth taxpayers residing in New York City may be impacted by tax reform.
As Senate Republicans moved closer to an overhaul of the nation's tax code, the prospect of sharp cuts to corporate taxes loomed larger.
November 29, 2017
As Seen In
The Wall Street Journal quoted Philadelphia Tax Leader Ed Reitmeyer in an article about how the House and Senate tax bills would likely affect President Trump.
Opponents of the Republican tax proposal moving through Congress are focusing in part on one particular billionaire as they seek to rally Americans against it: ....
November 28, 2017
As Seen In
Construction Executive's Managing Your Business published an article by Tax Partner James Lundy about the critical importance for construction contractors to undertake annual tax planning.
More than almost any other industry, construction contractors need to spend time and resources planning for their income taxes before the end of their fiscal ....
November 27, 2017
As Seen In
Bloomberg News interviewed Family Wealth Services Leader Carolyn Mazzenga about whether the loss of the state and local tax deduction in New York will drive wealthy taxpayers to move.
By eliminating the deduction for most state and local taxes, an individual making a yearly salary of $1,000,000 - a figure not uncommon in the ....
November 20, 2017
As Seen In
The Hartford Business Journal published an article by State & Local Tax Leader Paul Graney, on the tax changes contained in the bipartisan budget agreement enacted in Connecticut.
On Oct. 31, Gov. Dannel P. Malloy signed a trick-or-treat bipartisan budget agreement that provided for a number of new tax changes. He also vetoed ....
November 20, 2017
As Seen In
Forbes tapped the expertise of Tax Partner Janis Cowhey for an article about smart ways to tap your retirement money early.
Ideally, you'll leave the money in your retirement accounts growing untouched until you retire. Uncle Sam imposes a 10% penalty on some early withdrawals to ....
November 20, 2017
Tax Flash - Tax Credits & Incentives
Window for California Competes Tax Credit is Fast Approaching
The California Competes Tax Credit program is an award-based program that is funded through the state's general fund. The purpose of the California Competes Tax ....
November 20, 2017
Research & Development Credit
Research and Development Credit - R&D Expense IRS Directive
Effective September 11, 2017, the Internal Revenue Service introduced a Research and Development Credit Directive for taxpayers that report R&D costs on GAAP audited financial ....
November 17, 2017
As Seen In
NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP tax plan.
NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP ....
November 17, 2017
As Seen In
The New York Times spoke with Philadelphia Tax Partner-in-Charge Ed Reitmeyer about the treatment of pass-through income under the House Tax Cuts & Jobs bill.
The rewrite of the tax code, which the House passed on Thursday, proposed a 25 percent tax rate for small businesses for owners who report ....
November 17, 2017
As Seen In
Fox News invited national Tax Leader Joseph Perry back to "Happening Now" to continue discussing whether the House and Senate tax reform bills will deliver on their promises to cut taxes for the middle class.
November 16, 2017
As Seen In
NBC News asked Marcum to analyze the impact of the House Tax Cuts & Jobs Act on the 2005 federal tax return of Donald Trump, and reported the Firm's findings.
President Donald Trump has insisted, for months, that the Republican tax plan he supports won't benefit him. In fact, Trump and his heirs potentially could ....
November 14, 2017
Tax Flash
Senate Committee on Finance Issues Version of Tax Cuts and Jobs Act
Last week, the Senate Finance Committee issued its version of the recently released House Tax Cuts and Jobs Act.
November 13, 2017
State & Local Taxation
Avoid Double Taxation in Tennessee
Many Tennessee businesses have an interest in flow through entities subject to Tennessee taxation. The flow through income is reported by both the parent and ....
November 10, 2017
Press Release
2017 Marcum Year-End Tax Guide Now Available
Marcum LLP has issued its 2017 Year-End Tax Guide in the midst of Congressional efforts to reform the national tax code. This year's tax guide ....
November 09, 2017
As Seen In
Bloomberg Markets spoke with Tax Partner Shaun Blogg, Marcum's office managing partner in West Palm Beach, FL, about the impact of tax reform for businesses and individual taxpayers.
Shaun Blogg, Marcum's office managing partner in West Palm Beach, FL, discussed the impact of tax reform for businesses and individual taxpayers with Bloomberg Markets.
November 08, 2017
As Seen In
Bloomberg Markets asked Tax Principal Michael D'Addio onto the program to discuss the prospects for the House and Senate tax bills.
Bloomberg Markets asked Tax Principal Michael D'Addio onto the program to discuss the prospects for the House and Senate tax bills.
November 02, 2017
As Seen In
Bloomberg TV's "Daybreak America" brought Tax Leader Joseph Perry back to the early morning program to discuss the expected tax reform bill, which was released later that day
November 02, 2017
As Seen In
National Tax Leader Joseph Perry appeared on Fox News' Happening Now, to discuss the ramifications of tax reform for middle income and high net worth taxpayers.
October 27, 2017
As Seen In
The Philadelphia Inquirer interviewed Jeffrey Winkleman, partner-in-charge of corporate taxation, and Steve Brett, president of Marcum Financial Services, for an article about the proposed cap on 401(k) contributions.
Wall Street can't be happy about Congress' proposal to cap our yearly 401k contributions at $2,400 - thats the tax-deferred amount we would be able ....
October 19, 2017
As Seen In
Forbes interviewed Tax Partner Janis Cowhey about the increased lifetime estate and gift tax exemption.
Its official. For 2018, the estate and gift tax exemption is $5.6 million per individual, up from $5.49 million in 2017. That means an individual ....
October 06, 2017
Tax Flash
Employee Retention Credits under the Disaster Tax Relief and Airport and Airway Extension Act of 2017
On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act of 2017 was signed into law, providing certain temporary tax relief ....
October 05, 2017
Tax Flash
IRS and Treasury to Withdraw Proposed Regulations that Would Affect Discounts Applied to Transfers of Family-Owned Businesses
On October 2, 2017, The Trump Administration issued Executive Order 13789. Included in this Executive Order, the IRS and the Treasury establish that they will ....
October 03, 2017
As Seen In
The New York Post interviewed Tax Leader Joseph Perry about the impact of potentially losing the deductions for mortgage interest, property taxes, and state and local taxes.
Homeowners would get a choice between deducting property taxes or mortgage interest on their federal tax returns as Republicans on Tuesday discussed modifications to the ....
October 02, 2017
As Seen In
Financial Advisor magazine spoke with Tax Partner John Mezzanotte about how to help clients save taxes on required minimum distributions from IRA accounts.
Once your client reaches age 70 1/2, he or she must take required minimum distributions (RMDs) annually from taxable IRA and 401(k) accounts.
September 28, 2017
As Seen In
WCBS-TV 2 interviewed Tax Partner Robert Spielman about the impact of the new Tax Reform Framework on Long Island homeowners.
President Donald Trump calls his tax reform plan a middle class miracle. But the elimination of most deductions, including state and local taxes, has some ....
September 28, 2017
Tax Flash
The Long-Awaited Tax Proposal: The Unified Framework for Fixing our Broken Tax Code
On September 27, 2017, the Trump Administration and Republican leaders released a unified framework for tax reform that would make changes to both individual and ....
September 28, 2017
As Seen In
Tax Partner Robert Spielman wrote about maximizing your charitable contributions for his latest column in the Coconut Creek City News.
There is seemingly no end to the solicitations we receive from qualified charitable organizations seeking our assistance.
September 27, 2017
As Seen In
CNBC spoke with Trusts & Estates Co-Leader David First about the proposed repeal of the estate tax.
Donald Trump rallied the working class, but he is also championing one benefit favoring only the super-rich: eliminating the federal estate tax.
September 13, 2017
Tax Flash
IRS Tax Relief for Hurricane Irma Victims
The IRS is providing help to the victims of Hurricane Irma. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. ....
September 06, 2017
Tax Flash
IRS has Provided Significant Relief for Taxpayers Affected by Hurricane Harvey
As a result of the devastation caused by Hurricane Harvey, IRS has granted two significant forms of relief for those affected by the storm. The ....
September 05, 2017
As Seen In
The Tax Advisor published a semiannual review of recent developments in individual taxation, co-authored by Tax Director Don Zidik.
The IRS issued proposed regulations that update the definition of dependent to be consistent with Sec. 152 and reverse the IRS's previous position regarding when ....
July 18, 2017
As Seen In
Bloomberg TV's Daybreak America invited Tax Leader Joseph Perry back to the program to discuss Washington's agenda for tax reform.
Joseph Perry, tax and business services leader at Marcum LLP, discusses the issues that he feels need to be tackled in order to achieve U.S. ....
July 10, 2017
Research & Development
Internal Use Software Regulations for the Research Tax Credit
In 2016, the Internal Revenue Service issued final regulations (T.D. 9786) regarding guidance on software that is developed primarily for a taxpayer’s internal use in ....
April 11, 2017
As Seen In
Tax Partner Paul Graney discussed a revision of the Pennsylvania Department of Revenue ruling on software support tax with Bloomberg BNA.
The Pennsylvania Department of Revenue has revised a controversial letter ruling on computer software support, dialing back guidance in an earlier version that implied training ....
March 23, 2017
As Seen In
CNBC.com interviewed Tax Partner Janis Cowhey about funding pre-school education for grandchildren.
Here's a way for boomers to share the wealth with their children and grandkids: Cover the cost of preschool and shake off gift taxes to ....
February 07, 2017
Tax Flash
New Businesses or Start-Ups: Get Ready for the New Research and Development Credit Payroll Tax Offset
The passing of the Protecting Americans from Tax Hike (PATH) Act of 2015 introduced many exciting changes related to the Research and Development (R&D) Tax ....
November 21, 2016
Tax Credits & Incentives
Tax Benefits of Hiring Veterans
Our nation's veterans can provide businesses with various benefits, from leadership skills to work ethic and attention to detail. However, hiring veterans can also provide businesses ....
August 25, 2016
Tax Credits & Incentives
IRS Announces Guidance on Refundable Payroll Taxes of Research and Development Tax Credit Claims
The IRS recently announced guidance regarding filing, claiming and reporting requirements related to the refundable Payroll Tax Credit provisions of the Research and Development (R&D) tax ....
May 10, 2016
Tax Flash
Research & Development Tax Credit: Consider the Extension and Changes to Law When Preparing 2015 and 2016 Tax Returns
In December 2015, the Protecting Americans from Tax Hikes Act of 2015 ("Tax Extenders Bill") was signed into Law. The law includes an expansion of ....
September 24, 2012
Alert
Clarification of Qualifications for Qualified Emerging Technology Company (QETC) Tax Credits
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The Marcum 2018 Year-End Tax Guide continues our tradition of providing timely tax guidance for the upcoming year.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.
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