MKLLP Weekly News
MKLLP Lawyers

• The Saver’s Credit: Tax Break Helps Low- and Moderate-Income Workers Save for Retirement
  Low- and moderate- income workers can take steps now to save for retirement and earn a special tax credit in 2007 and in the years to come.
• 2007 Year-End Tax Planning for Individuals
  As the end of 2007 approaches, now is an ideal time for individuals to review tax situations and evaluate strategies that may help minimize their tax bill.
• Deadlines Extended For California Wildfire Victims
  The Internal Revenue Service (IRS) has announced that taxpayers within the California disaster areas
• 2007 Small Business Year End Tax Planning
  As 2007 draws to a close business owners need to consider tax planning opportunities that may still be available.
• Hybrid Car Credits Extended Into 2008
  An Alternative Motor Vehicle Income Tax Credit (claimed on Form 8910) is available for qualified motor vehicles purchased after 2005.
• Tax Reduction and Reform Act of 2007: A Proposal of Changes
  On October 25, 2007, Ways and Means Chairman, Charles Rangel, introduced the “Tax Reduction and Reform Act of 2007. This is a proposed bill.
• SOX 404 Deadline Looms
  As the clock winds down on the December 15th, 2007 deadline for managements’ internal control assessment, non-accelerated filers...
• Melville Firm Helps Accountants
  Marcum & Kliegman was featured in the business section of Newsday on October 25.
• Marcum & Kliegman’s Happiness Committee Offers Unique Employee Benefits
  Marcum & Kliegman LLP, named one of Long Island’s Best Places To Work in 2006, continues to cultivate a positive work environment with help from the Firm’s “Happiness Committee.”
• New York State’s Revised Convenience of Employer Rule: The Controversy Continues
  New York State taxes its residents on all income, while nonresidents are taxed on income derived only from New York sources.
• Marcum & Kliegman Increases Recruiting Efforts
  The task of recruiting effectively in a tight job market is not an easy one, but Marcum & Kliegman set out to break through the clutter with an edgy marketing campaign designed to attract talented professionals.
• Your Family Office at Marcum & Kliegman
  Your Family Office “YFO” at M&K… who are we and what do we do?
• Seeing the Whole Picture
  The Marcum & Kliegman LLP Hedge Fund/Investment Partnership Group together with the Family Wealth Services Group has developed a unique approach to providing accounting, assurance
• No Pain No Gain, An Emotional Approach To Creative Marketing
  One of the most interesting marketing campaigns I ever worked on was for toilet paper.
• Changes to Auditing Standards will Greatly Affect 2007 Audits
  In March of 2006, the American Institute of Certified Public Accountants (the body that establishes standards for audits of nonpublic entities) passed a suite of new audit standards (Nos. 104 to 111) that revise many fundamental auditing principles.
• Individual Estimated Taxes for 2007
  Individuals must pay their Federal income taxes throughout the year either through withholding taxes from payroll and/or quarterly estimated taxes.
• SFAS 159: A New Standard to Manage Volatility in Earnings
  In February 2007, the Financial Accounting Standards Board (FASB) released a new Statement of Financial Accounting Standard No. 159
• New Jersey's Alternative Minimum Assessment Set to Expire... For Most Taxpayers
  In 2002, New Jersey enacted the Alternative Minimum Assessment (AMA), which required taxpayers to pay the greater of their New Jersey Corporation Business Tax (CBT) or AMA
• New Rules on Donations of Conservation Easements
  The Pension Protections Act of 2006 includes new provisions related to the charitable contributions of qualified conservation easements by individuals.
• Po-tay-to, Po-tah-to: It Matters How You Say It and to Whom - Making Niche Marketing Work for You
  Conventional wisdom tells us that we cannot be all things to all people.
• Unclaimed Property
  In reaction to significant budget deficits, States are looking for both new revenue sources, as well as, enforcement of existing laws.
• SEP-IRA or Individual 401(k) for Sole Proprietors?
  Sole proprietors have several options available when considering saving for retirement. One such plan is an Individual 401(k) which is a fairly new product.
• House and Senate Zero in on Taxation of Fund Managers
  The House and Senate have introduced bills that would dramatically change the income tax treatment of “carried interest” profits earned by fund managers in their capacity as general partners of investment partnerships.
• New Rules on Donations of Conservation Easements
  The Pension Protections Act of 2006 includes new provisions related to the charitable contributions of qualified conservation easements by individuals.
• Closing The Tax Gap – Two Proposals Likely To Find Their Way Into The Tax Code
  Closing The Tax Gap – Two Proposals Likely To Find Their Way Into The Tax Code
• New Changes to Kiddie Tax Rules Effective For 2007
  New Changes to Kiddie Tax Rules Effective For 2007
• The Small Business and Work Opportunity Tax Act of 2007
  The Small Business and Work Opportunity Tax Act of 2007
• Davis case to be reviewed by U.S. Supreme Court
  Davis case to be reviewed by U.S. Supreme Court
• Individual Estimated Taxes for 2007
  Individual Estimated Taxes for 2007
• New York State Legislature Approves 2007/2008 Budget with Significant 2007 Tax Law Changes
  Significant Changes in New York State Tax Law
• So What is the Big Deal About FIN 48 Anyway?
  The Big Deal About FIN 48