Tax legislation enacted in 2015 changed the rules for how partnerships (including limited liability companies and any other entity classified as partnerships) respond to audits by the Internal Revenue Service.  

Leading accounting, tax and advisory firm, Grassi & Co., announced today that the audit nonprofit partners and staff of Lyndhurst, NJ-based Lederer, Levine & Associates have joined the firm, effective January 1, 2019. 

Leading accounting, tax and advisory firm, Grassi & Co., has announced that Michael A. Violano was promoted to Audit Partner in their Manufacturing & Distribution Practice effective January 1, 2019 and will be heading up the building materials sub-segment.

Leading accounting, tax and advisory firm, Grassi & Co., is proud to announce the addition of Howard Fielstein as a Partner in their Forensic, Litigation Support and Valuation Services Practice, led by Sareena Malik Sawhney.

The Tax Cut & Jobs Act of 2017 provided a new Section 199A deduction on qualified business income for certain pass through entities (sole proprietorships, partnerships & S corps). This deduction, which is generally 20% of QBI with certain limitations, is temporary and expires at the end of tax year 2025.

New York State has decided to decouple from the Federal Tax Cuts and Jobs Act (TCJA) certain personal income tax changes for tax years 2018 and after.  

Ronkonkoma, NY – Grassi Franchise Services, is proud to announce that Leonard Carone has been promoted to Partner effective January 1, 2019.