The past two years have marked significant changes in the way in which businesses and non-profit entities, including hospitals, report their financial performance. Under accounting standards codification 606 (ASC 606), these entities must adopt new methods for recognizing the timing, amount and uncertainty of revenue from and expenses related to contracts with customers. While healthcare […]
While the current administration failed in its attempts to fully repeal the Affordable Care Act (also known as Obamacare), it did secure under a package of tax reform the elimination of the health care law’s individual mandate beginning in 2019. Regardless of how all of this will play out, one consistent trend that continues to […]
The passage of the Secure Act 2.0 at the end of 2022 ushered in significant changes for employers and how they must administer and annually report information about their employee benefit plans. These new provisions apply to employers’ 401(k) and 403(b) plans for tax years beginning in 2023. Although plans have until the last day […]
Participants in high-deductible health plans will be able to contribute a significantly higher amount to their health savings accounts (HSAs) in 2024 to cover out-of-pocket medical expenses. The IRS raised the HSA contribution limits for 2024 to $4,150 for individuals and $8,300 for families (up from $3,850 and $7,750, respectively, in 2023.) HSA owners aged […]
Whether you are an employer or employee, you recognize the benefits of Flexible Spending Accounts (FSAs) to help pay for rising costs of out-of-pocket healthcare expenses. Nevertheless, how unused account balances are treated at the end of the plan year is often misunderstood and can be a source of pain for both employees and employers. […]
Once again, year-end tax planning is complicated by an uncertain economic landscape. Despite a year of strong job growth and consumer spending, persistent inflation, rising interest rates and market volatility have stoked fears of an impending recession. On the political front, the November mid-term elections have left the country with a divided Congress that will […]
Under recent guidance issued by the IRS, retirement plans, including 401(k)s, certain 403(b) plans and individual retirement accounts (IRAs), have additional time to adopt required amendments incorporating new legislation introduced in 2019 and 2020. The new deadline for non-governmental calendar-year plans to adopt these amendments has been postponed from December 31, 2022, to December 31, […]
The Inflation Reduction Act signed into law on Aug. 16, 2022, represents an investment of more than $430 billion in new federal spending to combat climate change, reduce consumers’ healthcare costs and lower the deficit. To help raise the revenue required to accomplish these goals, the bill includes a package of tax reforms impacting consumers […]
The July 31 deadline for businesses to file annual employee benefit plan returns (or request a two and a half month filing extension) is right around the corner. While all employers offering defined contribution plans will find a few changes to the information reporting requirements found on IRS Form 5500, those with 100 or more […]
Congratulations! You graduated college, secured a job and are entering the real world of financial independence. Before forging ahead and spending your first paycheck, take a moment to understand some basic lessons in financial responsibilities that you probably did not learn in school. Lesson 1: You Owe the Government Money Under U.S. law, all money […]
The Consolidations Appropriations Act of 2021, signed into law on Dec. 27, 2020, provides 401(k) sponsors with welcome relief from partial plan terminations that may have otherwise occurred in the wake of COVID-19-related workforce reductions. Background Under longstanding IRS rules, businesses that lay off 20 percent or more of employees covered by a defined-contribution plan in a […]
In the rush to put 2020 in the rearview mirror and welcome in the promises of a New Year, employers should remember that there are some critical tax-reporting deadlines they must prepare to meet in the next few weeks. For example, businesses have until Feb. 1, 2021, to file Forms W-2, Wage and Tax Statements, and […]
Businesses that usually file IRS Form 1099-MISC to report payments they make to independent contractors, gig-economy workers and outside consultants should prepare for change in the coming year. Effective for tax years beginning in 2020, the IRS requires businesses to report nonemployee compensation totaling $600 or more on Form 1099-NEC rather than including it on […]
One of the unanticipated consequences of the COVID-19 pandemic has been a change to the actual healthcare expenses employees estimated when they made irrevocable salary-reduction elections to employer-sponsored cafeteria plans. In response, the IRS has issued a series of guidance offering taxpayers more time and flexibility to make mid-year changes to flexible spending arrangements (FSAs) […]
On March 18, President Trump signed into law the Families First Coronavirus Response Act (FFCRA), offering much needed relief to many American families and businesses in the wake of the COVID-19 pandemic. Among the provisions included in this second package of aid are the Emergency Paid Sick Leave Act (“The Paid Sick Leave”) and the Emergency […]
Samantha Arteaga provides auditing, accounting and business consulting services to companies in a wide range of industries. She specializes in conducting audits of privately held real estate investment companies. Arteaga has experience providing audit and accounting services to companies in the construction, hospitality, healthcare and real estate sectors.
Dylan Stone has nearly 15 years of accounting experience providing business valuation services for estate and gift taxation, minority oppression, divorce and litigation-related matters. Stone also specializes in forensic accounting services for family law disputes. His clients have major holdings in a wide range of industries, including construction, consumer products, financial services, healthcare, manufacturing, private […]
For more than 20 years Brandon Bowers has served as an outsourced information technology resource to companies, growing firms and family offices. He and his team provide full-service help desk and technology consulting as well as cybersecurity and related IT support services to clients in the accounting, financial, government, healthcare and legal sectors. Bowers has […]
Michelle Dominguez provides accounting and auditing services, litigation support and business consulting to a wide range of companies. With nearly ten years of experience in the accounting industry, Dominguez has worked with broker-dealers and public companies in a variety of consulting roles, including financial reporting and Sarbanes-Oxley preparation and reporting.
Tony Salazar has more than 25 years of experience providing tax and consulting services to closely held businesses and high-net worth family groups in a diverse range of industries. Salazar helps individuals, corporations and partnerships with federal and state income tax planning and compliance, buy/sell transactions and structuring, and representation before the IRS and state […]
Kirk Jennings is a skilled tax professional with long-standing experience with accounting for income taxes (ASC-740), corporate tax compliance, LLCs and pass-through entities. He also focuses on tax SEC reporting for public companies, as well as tax internal controls review and development and implementation for Sarbanes-Oxley compliance. For more than 10 years, Jennings has provided […]
Joseph Leuchter works closely with individuals and businesses on their accounting, compliance and planning. The tax compliance component of his practice is primarily real estate focused and includes complex partnership structures and all aspects of federal and state taxes. In addition, he has a specialized focus on obtaining research and development tax credits.
Nicholas Angarano has provided business and tax consulting services for nearly 10 years. He has experience in helping real estate, hospitality and healthcare companies with federal tax compliance, tax planning, cost-segregation implementation and business consulting.
Sasha Massagardi has more than 10 years of experience auditing financial statements, reviewing internal controls and providing advisory services to businesses in a wide range of industries. Her expertise helps clients assess their financial and operational positions and make decisions to improve future performance and enhance third-party confidence in their financial statements.
Shanna Shim provides accounting and consulting services to a wide range of clients in the construction, distribution, healthcare, real estate and transportation sectors. With a focus on helping businesses improve operational efficiencies, she oversees the implementation of accounting software systems and internal controls that provide clients with accurate financial and accounting records, reports and planning […]
Cotter has deep experience leveraging technology, business practices and operational leadership to help Fortune 50 companies, mid-market and entrepreneurial companies reach their goals. He has held leadership and consulting roles in a wide range of industries. Cotter’s multi-functional expertise includes strategy, management consulting, technology, process improvement, operations and accounting.
Debra Sears has provided accounting services for more than 20 years. She specializes in privately held business as well as not for profit organizations and brings a wealth of knowledge to business owners, entrepreneurs and executives. Sears has developed a focus on cloud accounting systems and process improvement to help clients automate procedures to generate […]
Melissa Fleitas provides accounting, auditing and consulting services to a wide range of companies in the healthcare, manufacturing and distribution sectors. She also has specialized experience in providing audits of 401(k) and other employee benefit plans. Fleitas has nearly 20 years of experience providing accounting and consulting services for the healthcare industry. She has developed […]
Adam Cohen’s practice focuses on tax planning and compliance for closely held companies in a wide range of industries.
Shea A. Smith provides consulting, accounting and attest services for privately held businesses. With nearly 20 years of experience working with a variety of companies and industries, he brings a wealth of knowledge to business owners and entrepreneurs. Smith focuses his practice on entrepreneurial clients in many industries and helps them scale for growth and […]
July 13, 2023 – Berkowitz Pollack Brant Advisors + CPAs today announced the promotion of nine professionals to associate directors within the firm’s Tax Services and Assurance and Advisory Services practices. “Our firm was founded on the principle of creating a life-long learning environment, where every firm member receives the tools to cultivate knowledge, enhance […]
MIAMI, June 5, 2023 – Berkowitz Pollack Brant Advisors + CPAs has announced the addition of Brandon Bowers as director of the new Managed Cyber Solutions practice. The Managed Cyber Solutions group will offer outsourced IT, help desk and security services, as well as scalable systems for reporting, tracking and monitoring. Bowers joins the firm […]
July 18, 2022 – Berkowitz Pollack Brant Advisors + CPAs today announced its founding executive chairman, Richard A. Berkowitz, JD, CPA, was elected to the Board of Directors of the Miami Cancer Institute, a leading cancer research and treatment center affiliated with Baptist Health South Florida. Berkowitz’s deep commitment to the South Florida community is […]
BOCA RATON, FL – May 15, 2022 – Berkowitz Pollack Brant Advisors + CPAs today announced that Jeff Stamm, CPA, has joined the firm as director of the Transaction Advisory Services practice. Stamm is joined by a team that will assist business owners, entrepreneurs and private equity firms with mergers and acquisitions. They primarily focus […]
MIAMI, October 1, 2020 – Chet Cotter has joined Berkowitz Pollack Brant as a director and leader of its Managed Solutions and Technology practice. The Managed Solutions and Technology team provides enterprise application recommendations and integration, full-service outsourced accounting solutions and systems management, and data analytics and e-discovery. Berkowitz Pollack Brant CEO Joseph L. Saka […]
MIAMI, August 29, 2016 – Berkowitz Pollack Brant Advisors and Accountants, one of the largest firms in South Florida, was again included on Inside Public Accounting’s annual ranking of the top 100 largest firms in the US. “Our growth and position in the top 100 is a testament to the culture we nurture every […]
MIAMI, FL, August 24, 2016 – Berkowitz Pollack Brant Advisors and Accountants has promoted six firm members to associate director level. Angie Adames, associate director of Tax Services, provides tax and consulting services to high-net-worth individuals, pass-through entities and businesses in the real estate and manufacturing industries. Laurence Bernstein, associate director of Tax Services, spearheads […]
MIAMI, Nov. 15, 2013 – Berkowitz Pollack Brant Advisors and Accountants announced the promotion of Whitney Schiffer to the role of director in the Audit and Attest Services practice. An experienced auditor with more than 20 years of experience, Schiffer serves clients in the hospital, healthcare, non-profit and governmental sectors. “We are thrilled to promote […]