New IRS Requirement to Track Nonmember Income Generation
Does your 501(c)(7) private club hold nonmember outside events, and do these events generate a profit for the club?
M&A Deal Activity Surged in Second Half of 2020
After a precipitous decline in Q2 2020, mergers and acquisitions transactions in North America rose 84% from Q2 to Q4 2020 after experiencing a 38% decline in Q2 and a 22% decline in Q3.
House Passes New Stimulus Bill – Extended Employee Retention Credit, PPP Updates and Other Small Business Relief
On Saturday, February 27, 2021, the House of Representatives passed H.R. 1319, the American Rescue Plan Act of 2021 (ARPA). The bill provides, among a broad array of stimulus provisions, an extension of the employee retention credit through the end of 2021, as well as credits for paid family and sick leave for employees
PKF O’Connor Davies Promotes Noam Hirschberger to Principal-in-Charge of the Firm’s Valuation Practice
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced today that Noam Hirschberger has been promoted to Principal-in-Charge of the Firm’s Valuation Practice
PKF O’Connor Davies Names Jonathan Moore as Partner-in-Charge of Advisory Services
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced today that Jonathan Moore has been named Partner-in-Charge of the Firm’s Advisory Services division.
New Jersey Legalizes Marijuana
Gov. Phil Murphy signed three bills into law on February 21, 2021 that will legalize marijuana in New Jersey (NJ). New Jersey will join Maine, Vermont, and Massachusetts on the East Coast to now legalize marijuana.
Marijuana Business: Are Depreciation and Charitable Contributions Deductible?
A recent court case, San Jose Wellness (2021) 156 T.C. No. 4, has emerged in the marijuana industry highlighting the proper allocation of costs and the deductibility or disallowance based upon the specific facts.
PKF O’Connor Davies Survey: 9 in 10 Long Island Businesses Offered Raises Last Year Despite Dip in Economic Confidence
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced the results of its Long Island Economic Survey & Opinion Poll at a webinar hosted by the Firm on Tuesday, February 23, 2021.
Webinar Replay: Outlook 2021 – Long Island Economic Survey & Opinion Poll
This webinar highlights the new partnership of PKF O’Connor Davies and Albrecht, Viggiano, Zureck & Company, P.C. (AVZ). AVZ is […]
Enhancements and Extensions to the Employee Retention Credit
The 2021 Consolidated Appropriations Act included $900 billion in stimulus relief for the COVID-19 pandemic, including significant changes to the Employee Retention Credit. These changes will be beneficial to many nonprofit employers.
Emergency Grants to Individuals
Many private foundations have increased and expedited their grant-making efforts as a result of the economic impact of the COVID-19 pandemic.
Actuarial Considerations for Sponsors of Defined Benefit Plans
Plan sponsors typically engage a qualified actuary to provide actuarial services for defined benefit plans which they sponsor.