Newsletters & Alerts

EAlert: Tax Reform Impact on A&E Industry

The Tax Cuts and Jobs Act (H.R. 1) is the biggest tax overhaul in over 30 years. With such an extensive revision of the tax code, the Architectural and Engineering industry will be deeply affected by these changes. Below are the key areas that will impact the industry.

EAlert: Commercial Rent Tax

The New York City council recently enacted Int. No. 799-B, which significantly increased the Commercial Rent Tax (CRT) exemption. 


Una commissione unificata di Camera e Senato USA ha trovato un accordo su un testo unico di riforma fiscale federale. La legge deve ancora essere approvata sia dalla Camera che dal Senato per poi passare alla firma del Presidente Trump. Gli ultimi sviluppi suggeriscono ampie possibilita’ che questo avvenga durante questa settimana (tra Martedi’ e Mercoledi’).

Paid Family Leave Update

The Paid Family Leave forms are now available online!

Proposta Riforma Fiscale USA

Il 2 Novembre 2017, il Ways and Means Committee della Camera dei Deputati Americana ha presentato la propria proposta di riforma di legge  in ambito fiscale.

Form I-9 Changes

Revisions were made to reduce errors on the form I-9. The new form was revised on 07/17/2017. 

Next Steps for Paid Family Leave

Grassi & Co. hosted a webinar on the NYS Paid Family Leave Act.

The Scoop on the EEO-1 Report

In order to stay compliant in today’s hectic HR landscape, below are some key points regarding the EEO-1.

EAlert 2017 Tax Reform: What Congress and the President are Considering Now

As reported by Reuters, President Donald Trump and congressional Republicans are now tackling tax reform. Tax staffers are meeting in the House of Representatives and the Senate through the August break to work on legislation that is expected to be unveiled next month.

The 2017 Building & Design Symposium in Review

Every year, Grassi & Co. produces a Construction Industry Market Outlook Survey followed by a Symposium made up of executives within the construction industry to comment on the results of the survey.

If You Build It, Use Technology

The advances in construction technology are real, they are here, and they aren’t going away. If construction contractors are not already implementing these new ways to build, they’ll be as obsolete as the dot matrix printer.

EAlert: IRS Issues Notice on Implementation of Executive Order 13789

On July 7, 2017 the internal revenue service issued Notice 2017-38, 2017-30 IRB[1] which announced the implementation of Executive Order 13789.  Executive order 13789 was issued by President Donald J. Trump on April 21, 2017, and was a directive designed to reduce tax regulatory burdens.

NYS Paid Family Leave

New York’s Paid Family Leave program provides wage replacement to employees to help them bond with a child, care for a close relative with a serious health condition, or help relieve family pressures when someone is called to active military service.

IRS Passes New Revenue Procedure—Simplifies Surviving Spouse Portability Election

The Federal government  imposes an estate tax which is calculated on the value of your assets when you die.  The first $5,490,000 (2017 exemption) is excluded for Federal Estate tax purposes.  This is a cumulative lifetime exemption; therefore taxable gifts made during your lifetime utilize part of this exemption.  Upon death, the remaining exemption is essentially applied to the remaining estate.

Be Prepared for Medicare MBI!

As a part of the MACRA 2015, CMS is required to remove the Social Security number or SSN from Medicare cards by April 2019.      New Medicare Beneficiary Identifier (MBI) will replace the SSN.

Telehealth Services

The recent bill passed in NYS, S3293 amends subdivision 3 of section 2999-cc of the public health law by expanding Telehealth services for children.

You’ve Been Drafted to the NFL—Now What?

It’s imperative for players and their loved ones to understand how to navigate business opportunities, multi-state taxes, residence choice, how to account for in-season and off-season expenses, budget earnings and make sure there is enough cash flow to last the entire off-season. 

Maximizing Your ERP Investment

In the world of Manufacturing and Distribution, many CEO’s and CFO’s are convinced they are simply too busy managing daily business operations and finance to find the time to critically review their company’s day-to-day ERP system processes. While it’s a fact they are busy, there also tends to be a vague resistance to initiate this study, as if it is too big of an initiative for them to successfully manage.

EAlert: IRS has issued Notice 2017-15

The IRS has issued Notice 2017-15 which provides relief for estate or gift tax transfers to same-sex spouses.

Money for Nothing: 3 Ways to Reduce Contractor Insurance Premiums

Insurance costs can be daunting for any contractor, but what if there was a way to reduce premiums without affecting coverage?  Here are three tips that can have a large impact on insurance premiums.

The Blueprint to Building a Successful Construction Succession Plan

Over the past few months, there have been at least three construction companies who have celebrated big anniversaries: one celebrated 75 years, the second 125 years and the third 130 years.

What NFL Rookies need to know about the “Jock Tax”

In a recent visit to an NFL club during their organized team activities, wherein 29 of the rookies and free agents took part in a financial literacy class, the room was queried and only one of the 29 rookies said he had prepared a tax return in the past. While this is not surprising, it is somewhat worrisome as these players have no idea what their new tax compliance obligation is.

The Financial ABCs for Post-Draft Picks

The 2016 NFL draft is quickly approaching and collegiate athletes, who are enthusiastic about finally getting paid to play, will be facing new challenges and demands as they become instant celebrities and instant CEOs. These rookie players will suddenly have to make financial decisions that, let’s face it, college has not fully prepared them for, which in turn leaves them vulnerable to fiscal consequences they may not recover from.

To Be Financially Successful, All NFL Rookies Need to Play Offense

The second biggest mistake most NFL players make, aside from not budgeting their 16 paychecks over an entire year— as per ”How Rookies Can Budget Their Earnings in The ‘Ballers’ Era” published in the August 24-30, 2015 issue—is not viewing themselves as their own brand. Until players realize that they, themselves, are the CEO of their own personal brand, they will struggle to develop the professional maturation needed to thrive once their football careers end.