The Budget Bill was signed into law on April 9, 2022. Included in the tax provisions are two key changes to the Pass-Through Entity Tax (PTET): S Corporations with Resident Shareholders Unlike partnerships, S corporations must allocate all items of income and deduction pro-rata based on stock ownership. Therefore, NY resident shareholders, who are subject to state income tax on all of their income, cannot be treated differently from nonresidents, who are only taxed on income allocable to the state. As a result, the PTET base for S corporations under the original law only allowed for allocated income of all […]
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Industry News
Manhattan Online Student Lender Raises $35M From Ex-Citi CEO, Others
September 8, 2015
CommonBond, which refinances student loans at lower interest rates than borrowers can get through traditional channels, has raised $35 million in a Series B round, the company announced Tuesday. The...To view the full story, click the title link. Read More More [+]
Her Business Is Cleaning Up
It took 11 years, but Nicole Levine eventually went from cleaning law offices and furniture stores for extra cash to running her own award-winning manufacturing business."Because I’m a...To view the full story, click the title link. Read More More [+]
As Construction Gets Underway On Mega-Project,LES Braces For Change
September 4, 2015
With construction underway at the 1.9 million s/f Essex Crossing, tangible change is on the horizon for yet another area of Manhattan that was once viewed as a last resort by many. “If you look at really just Houston and[…] Read More More [+]
Weinberg Ready For Reality Rollercoaster
Another day, another broker reality show. This time, it’s an ABC Family show called “Next Step Realty: NYC,” a series that follows New York City-based residential brokerage firm Next Step Realty, and the agents who work there. With the first[…] Read More More [+]
Four Weeks Until ICD-10: Access Exclusive MGMA Resources
September 3, 2015
On Oct.1, the new ICD-10 code set will be mandatory for all healthcare claims and other HIPAA transactions. Help your practice make a smooth transition to ICD-10 by accessing timely MGMA resources. Read More More [+]
CMS Releases July ICD-10 Testing Results
From July 20 through 24, 2015, Medicare fee-for-service healthcare providers, clearinghouses and billing agencies participated in a third week of ICD-10 end-to-end testing with all Medicare Administrative Contractors (MACs) and the Durable Medical Equipment MAC Common Electronic Data Interchange contractor. Read More More [+]
Pricing Models For Financial Advisors and The Power Of “Free” Financial Planning
September 2, 2015
Are you looking for new ways to evolve your own financial planning business? Michael Kitces, Partner and Director of Research for Pinnacle Advisory Group, discusses the innovative and inspiring ideas found in Chris Anderson’s book, “Free: The Future of a[…] Read More More [+]
Equity-Based Compensation: Are Non-GAAP Earnings Misleading?
Stock-based compensation is used by companies of all shapes and sizes. Travis W. Harms, leader of Mercer Capital’s Financial Reporting Valuation Group, explains from a valuation standpoint, the importance of measuring its fair value. To read more about the results[…] Read More More [+]
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