On May 5th, the IRS released Rev. Proc. 2016-29 which supersedes Rev. Proc. 2015-14 as it relates to the income tax reporting methods that do not require advance consent.
The rules of 2016-29 cover a diverse array of method changes, including taxpayers migrating to the percentage of completion reporting method—now requiring taxpayers to file Form 3115 to gain consent.
Rev. Proc. 2016-29 will also impact the construction contractor community as it relates to changes in the method of accounting for bad debts from a reserve to a specific charge-off method.
New York Accounting Industries - Construction and More

INDUSTRIES

Grassi & Co. is built around a client-centered approach that provides expertise focused on an organization’s specific needs. Our Industry Practice Groups are built around teams of specialists who continuously study the dynamics of their industry in order to make positive business improvements for clients.

New York Accounting Services

SERVICES

Providing services that meet and exceed our clients’ expectations is our top priority. We use a multi-functional approach with industry and subject matter experts who have the knowledge, skills, and experience to provide value-added services focused on bringing clients to the next level of success.

New York Accounting News

NEWS

Grassi & Co. Welcomes Julie Vadnais as Chief Administrative Officer

JulieNew York, NY – May 17, 2016 – Grassi & Co. is proud to announce that Julie Vadnais has joined Grassi & Co. as the Chief Administrative Officer based out of the New York City office.

Julie brings more than 15 years of experience leading the operations of CPA and Consulting firms within a multi-state and multi-office environment and has over five years of tax experience.  She specializes in merger and acquisition integration, strategic planning and partner group coordination and planning.

Prior to joining Grassi & Co., Julie was the Chief Operating Officer at Lavine, Lofgren, Morris & Engelberg LLP and Grice, Lund & Tarkington LLP.  She was previously the Director of Operations at AKT LLP and co-owner of Vadnais Corporation. Julie is especially skilled at operational analysis and integration of mergers and acquisitions; partner group organization and communication; facilities acquisition and logistics.

“Julie’s areas of expertise, particularly in operations and mergers and acquisitions, make her a true asset to Grassi & Co.,” said Managing Partner and CEO Louis C. Grassi, CPA, CFE. “With our strong record of growth, and, with the addition of Julie, I am looking forward to the future of our Firm and its continued growth.”

Julie is in the process of relocating to the NY area from California and received her Bachelor of Arts in English; with a concentration in grammar and composition from San Diego State University, and her Masters of Science in Accountancy and Financial Management from the University of San Diego.  Julie has continued her education at Harvard University taking courses pertaining to leading professional service firms.

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About Grassi & Co.: Grassi & Co. is a premier professional services organization specializing in accounting, auditing, tax, technology, and business consulting. Grassi & Co. was recently ranked the 17th largest Accounting Firm in New York by Crain’s New York and the 7th largest by Long Island Business News. It was also ranked the 73rd largest in the U.S. by Accounting Today and the 74th largest by INSIDE Public Accounting. They have offices in Manhattan, Long Island and Rockland County, NY as well as internationally through its association with Moore Stephens International. Grassi & Co. specializes in professional services for the Not-for-Profit, Construction, Architecture & Engineering, Financial Services, Life Sciences, Manufacturing & Distribution, Retail, Technology, Media & Telecommunication, Transportation, Energy & Natural Resources, and Healthcare industries, among others.

 

 

2016-2017 NY State Budget Announced

Governor Cuomo and Legislative Leaders announced an agreement on the 2016-2017 state budget. The budget includes policies that will strengthen opportunity for working and middle class families, provide $24.8 billion in education aid and a $4.2 billion middle class tax cut once fully effective.

 

Read more:

2016-2017 State Budget

Adam B. Schuman Joins Grassi & Co. as Chief Growth Officer

Adam Schuman_3437New York, NY – March 29, 2016 – Grassi & Co. is proud to announce that Adam B. Schuman has joined Grassi & Co. as the Chief Growth Officer based out of the Jericho office.

Adam brings more than 20 years of in-depth knowledge of proven marketing and business development principles resulting in increased sales, profit, and growth. Specific deliverables include: advertising, business planning and development, communications, marketing plans, new product and service launches, public relations, social media, special events and strategic planning.

Adam describes himself as a motivational leader that combines entrepreneurial passion and strategic perspective along with an ability to apply demonstrated practices from a range of industries to create marketing programs considered best-in-class.

Adam was formerly the Director of Marketing and Business Development and Acting Chief Marketing Officer at Blank Rome, LLP, an AmLaw 100 Law Firm.

“Adam’s areas of expertise, particularly in the Business Development area, make him a true asset to Grassi & Co.,” said Managing Partner and CEO Louis C. Grassi, CPA, CFE. “We have a strong record of growth and, with the addition of Adam, I am more confident than ever that we will reach our goal of doubling the size of the firm within five years.”

Adam is a graduate of the State University of New York at Albany, where he earned his B.A. and Dowling College where he earned his Masters of Business Administration in Management, Marketing and Finance.

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 About Grassi & Co.: Grassi & Co. is a premier professional services organization specializing in accounting, auditing, tax, technology, and business consulting. Grassi & Co. was recently ranked the 17th largest Accounting Firm in New York by Crain’s New York and the 7th largest by Long Island Business News. It was also ranked the 73rd largest in the U.S. by Accounting Today and the 74th largest by INSIDE Public Accounting. They have offices in Manhattan, Long Island and Rockland County, NY as well as internationally through its association with Moore Stephens International. Grassi & Co. specializes in professional services for the Not-for-Profit, Construction, Architecture & Engineering, Financial Services, Life Sciences, Manufacturing & Distribution, Retail, Technology, Media & Telecommunication, Transportation, Energy & Natural Resources, and Healthcare industries, among others.

 

 

Top 100 Accounting & Business Consulting Firm

Grassi CPA - Top 100 Accounting Firms - Inside Public Accounting In today’s economic environment, Organizations need the proper strategic guidance to help them leverage best practices, maximize profitability, and implement better decision-making.

Each organization is different and deserves to receive personal attention and guidance from experts who understand their business.  Working with advisers who will custom-tailor their services to meet the specific needs of your business, provides value that will translate into savings and growth.  At Grassi & Co., we focus on adding value and offering services that go beyond the traditional financial statement or tax return to ensure your success.

We are a New York CPA and consulting firm with international capabilities through Moore Stephens International. We serve clients throughout the New York metro area including Manhattan, Long Island, Westchester and Rockland Counties, New Jersey, Connecticut, and Pennsylvania as well as clients across the country and around the world.

Our accounting, tax and business consulting professionals welcome the opportunity to learn about your business and provide you with world class accounting services and business consulting expertise. Grassi & Co. has the experience and skill to help you succeed and achieve your strategic objectives.