Tax Compliance & Tax Consulting

Overview



Our tax compliance and consulting services team helps clients design a comprehensive plan to reach their financial objectives. Our professionals analyze the current status of clients' investments, tax, insurance, retirement and estate plans. We dissect each component and make recommendations for improvements. Because the elements of a sound financial plan are interwoven, Grassi & Co.'s tax services professionals regularly monitor the plan and assist in making modifications that reflect clients' changing needs, goals and priorities. 

Grassi & Co. provides the following Tax Compliance & Tax Consulting services:
 

For Closely-Held Business & Owners:

 

  • Commercial Building Tax Deductions for AEDs
  • Cost Segregation Studies
  • Income Tax Planning & Projections International Taxation
  • LIFO Consulting Services
  • R&D Tax Credits and Incentives
  • State & Local Taxation
  • State Tax Credits
  • Succession Planning
  • Tax Controversy
  • Tax Credits & Incentives
  • Tax-Exempt Business
  • Tax Provision Services
  • Tax Return Compliance
  • Transaction Advisory

For High Net Worth Individuals:

 

  • Bankruptcy & Insolvency
  • Charitable and Gift-Giving Strategies
  • Family Wealth Services
  • Financial Administration
  • Income Tax Planning & Projections
  • International Taxation
  • Investment Strategies
  • Retirement Planning
  • State & Local Taxation
  • Tax Controversy
  • Tax Credits & Incentives
  • Tax Return Compliance
  • Transaction Advisory
  • Trust & Estate
     

 




 

Team

Robert M. Bernstein Partner
Ronald Burton, Jr. Principal
Jeffrey G. Cohen Partner, Tax Services Leader
Robert Crowley Principal
Anthony Dattoma Principal
Raymond Haller Partner
Timothy R. Larson Partner, International Tax Services Leader
Peter Metz Principal
Joseph Molloy Principal
Alan Silverstein Principal

Newsletters & Alerts

EAlert: Capital Gains Reinvested in Qualified Opportunity Zones

The Tax Cuts and Jobs Act of 2017 created code section 1400Z, which is designed to encourage economic growth and development through private investment in specific low income or rural communities and disaster areas.

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EAlert: IRS Issues Workarounds for SALT Deduction

On December 22, 2017 President Trump signed into law the Tax Cuts and Jobs Act. 

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EAlert: House Republicans Plan Second Tax Bill

The House Ways and Means Committee is planning a "Phase II" tax plan directed at individuals and families to complement the Tax Cuts and Jobs Act.

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EAlert: NYS Enacts Tax Workarounds

On April 12th, Gov. Andrew Cuomo signed into law the New York State budget bill, that among other things, created an employer payroll tax and new charitable contribution funds to offset the impact of the $10,000 federal cap on state and local tax deductions under the Federal Tax Cuts and Jobs Act.

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EAlert: The Time is Coming to Bid Farewell to OVDP

The IRS announced on March 13th its intention to end the 2014 Offshore Voluntary Disclosure Program (“OVDP”) on September 28, 2018. Many tax practitioners knew this was inevitable but didn’t know when it would happen.

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Tax Alert: IRS Deadline Extension Due to Winter Storms

WASHINGTON — The Internal Revenue Service today granted many businesses affected by severe winter storms additional time to request a six-month extension to file their 2017 federal income tax returns.

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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.

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EAlert: Commercial Rent Tax

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

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EAlert: What a Contractor Should Know About Tax Reform

The Tax Cuts and Jobs Act (the Act), which the President signed on December 22, 2017, contains numerous provisions that could affect contractors at the corporate and individual levels.

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EAlert: AGGIORNAMENTO SU RIFORMA FISCALE USA

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’).

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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.

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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.

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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.

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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.

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Tax Sins Hedge Fund Managers Should Avoid

In the competitive world of investing, it could be quite tough to launch your fund, seek capital and then deploy that capital.  But what about keeping it going so that you can reap the rewards?  Although many things happen that are beyond one’s control, any of these, by themselves, are enough to cause investors to flee.  They could include a host of things including underperformance to a benchmark, losses over time, volatility, lost faith in management, or even a sudden loss of interest in a certain type of investment style or sector.

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Two Basic Misconceptions of 1031 Exchanges

If you are in the process of selling real estate for a profit—whether you are an investment professional or not—your goal is to most likely defer your taxes.  If so, it’s a safe bet that you’ve heard of the term “1031 exchange”.There is plenty of information floating around that makes it possible for the novice to perform the 1031 exchange steps.

 

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Portability and Re-Marriage—A Match Made in IRS Heaven

As a result of the enactment of the American Taxpayer Relief Act of 2012, portability was made permanent in the transfer tax system. But what is portability and how does it affect individuals who remarry?

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Accounting Standards Update – Simplification Initiative

The Financial Accounting Standards Board, (“FASB”) established the Simplification Initiative with the goal of simplifying the complexity of the financial information reported to investors and other users while reducing the cost of preparing the financial statements.

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Events

The Business of Cannabis

John Pellitteri, panelist at NJBiz, "The Buisness of Cannabis"

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