Marvin & Co. Blog

Big Benefits Through 401(k) Accounts

Posted on: 2/3/15 by

No matter what the size of your company, employees may enjoy the benefits of participating in a 401(k) plan. One of the most popular retirement plans around, a 401(k) is a proven way to save money for your golden years. Just consider the following features…

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Start-Up Center: Determining the Right Entity Type for Your Business

Posted on: 1/29/15 by Kevin P. O'Leary, CPA

One of the more difficult, and important, decisions that new business owners have to make is their form of entity. Choice of entity affects legal liability, current taxation, the type of tax forms companies are required to file and an owner’s exit strategy. Each entity type has its own advantages and disadvantages depending on the type of business.

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Marvin University - General Tax and Affordable Care Act Updates

Posted on: 1/29/15 by Debra L. Smith, CPA

GENERAL TAX AND AFFORDABLE CARE ACT UPDATES WEBINAR SLATED FOR 2/18 

STAY TUNED FOR ADDITIONAL DETAILS. 

Hosted by Debra L. Smith, CPA, Manager and Jim E. Amell, CPA, Director. 

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New York Corporate Tax Reform: Are You Eligible For A 0% Corporate Tax Rate?

Posted on: 1/27/15 by James E. Amell, CPA

As you may be aware, on Jan. 1, comprehensive corporate tax reform went into effect in the state of New York. One industry that has certainly taken notice is manufacturing. As part of the reform, the business income base rate for qualified C corporation manufacturers has been reduced to 0% for tax years beginning on or after January 1, 2014.

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Bitcoin In The Charitable Sector: What Nonprofits Need To Know

Posted on: 1/27/15 by Frank S. Venezia, CPA

It’s a question many nonprofit executives and their boards may be asking as they encounter potential donors wishing to make their contributions with Bitcoin. Several national organizations have recently announced that they are accepting Bitcoin donations. However, the digital currency’s use is still very much in early adoption phase. Organizations that currently accept Bitcoin donations tend to do so in order to outwardly support innovation, appeal to their tech-savvy donor bases and give their donors a low-cost option for making donations.

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Awkward Board Conversations About Pay – Can We Talk?

Posted on: 1/24/15 by Heather R. Lewis, CPA

I have spent over ten years working with organizations of all sizes and varying levels of sophistication. The most guarded and sensitive documentation relates to salary. These are always the files which must be locked up at night and never left unattended. Discussions regarding salary are done at a whisper. We have heeded our parents warning, “You never ask anyone how much they get paid.” Salary discussions are right up there, perhaps even more sacrosanct, than the discussion of religion or politics.

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Charity Auctions: Reporting And Tax Rules

Posted on: 1/24/15 by Carol A. Hausamann, CPA

While neither charity auctions nor the various rules governing them are new, we receive numerous questions about them and observe many examples of inadequate auction procedures by both large and small organizations.

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FASB Issues Accounting Alternative For Private Companies On Intangible Assets

Posted on: 1/24/15 by

The FASB recently issued new guidance for private companies establishing an accounting alternative for certain intangible assets acquired in a business combination. If a private company elects the alternative, it would not recognize separately from goodwill certain assets arising from customer relationships and noncompetition agreements upon acquisition. Rather, they would be subsumed into goodwill, and the goodwill would be amortized. The alternative is intended to reduce cost and complexity for private companies. The decision to elect the alternative must be made upon the occurrence of the first in-scope transaction in years beginning after December 15, 2015, with early application permitted.

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Seven Top Employment Issues in 2015

Posted on: 1/23/15 by

Businesses both large and small face numerous challenges these days, ranging from technology to tax considerations to exposure to litigation over employment laws. What are the main issues in 2015? Here are seven likely to grab your attention.

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Searching for Miscellaneous Deductions

Posted on: 1/23/15 by Daniel J. Litz, CPA

As another tax filing season begins, you may be looking to increase the itemized deductions you can use to offset highly taxed ordinary income. What about those expenses that often seem to fall through the cracks? If you qualify, you may be able to deduct a portion of certain miscellaneous itemized expenses on your 2014 tax return.

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