Latest News

Keeping you up to date on what's happening at the firm and with issues and regulations impacting your business.

The New Jersey Tax Amnesty Program

By mspccpas | November 20, 2018

The New Jersey tax amnesty program went into effect on November 15, 2018 and will last until January 15, 2019.  During that short period, taxpayers may pay certain outstanding New Jersey state tax obligations (including individual gross income tax, corporation business tax, and sales and use tax, among others; local property…

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MSPC Announces Executive Team Changes

By mspccpas | October 31, 2018

MSPC Certified Public Accountants and Advisors is pleased to announce that Jon Gagliardi, CPA has been named Managing Principal of the Firm.   Gagliardi brings over thirty years of experience with the Firm to his new role. Gagliardi, who has a wide range of technical expertise, is known for having a…

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MSPC Names Cathy Davis, CPA as Principal

By mspccpas | October 15, 2018

MSPC Certified Public Accountants and Advisors is pleased to announce that Cathy Davis, CPA has been promoted and named a Principal of the Firm. Previously a Tax Manager at MSPC, Davis brings two decades of experience working with individuals, businesses, trusts and estates to her new role. She provides comprehensive…

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What South Dakota v. Wayfair Ruling Means for New Jersey Retailers

By mspccpas | August 15, 2018

The June 21 Supreme Court ruling in the case of South Dakota v.Wayfair, Inc. should encourage all businesses, large and small, that sell their goods online, to re-evaluate their sales tax collection procedures and to learn more about how this ruling may affect their business. In Wayfair, the Supreme Court…

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Marist High School Honors MSPC Managing Principal James J. Flannery, CPA

By mspccpas | June 14, 2018

Accountant Receives 2018 St. Marcellin Champagnat Service Award On June 12, 2018 James J. Flannery, CPA was recognized for his contributions to Marist High School to its mission of creating a community of lifelong, faith-filled learners who are prepared to take their places as enlightened, educated members of a complex,…

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Taking Advantage of Tax Reform: A Business Owner’s Perspective

By mspccpas | June 4, 2018

On May 23rd,  MSPC hosted an interactive panel  on how tax reform impacts closely-held businesses.  If you were unable to attend, you can view the slides here: Taking Advantage of Tax Reform: A Business Owner’s Perspective Watch the Video If you have any additional questions, contact Ron Ruggeri.

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FASB Fact Sheets

By mspccpas | February 27, 2018

MSPC Fact Sheet – ASC 606 Revenue Recognition MSPC Fact Sheet – ASC 842  Leases

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Tax Reform Update

By mspccpas | February 7, 2018

On February 7, 2018, MSPC presented a webinar on the recently enacted Tax Cuts and Jobs Act of 2017 which represents the most significant change to the United States tax laws in over thirty years. This webinar includes an overview of some of the most important individual and business-related provisions of this…

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Cranford-Based MSPC Certified Public Accountants and Advisors, P.C. Acquires Ennis Hargadon LLC

By mspccpas | January 1, 2018

Effective January 1, 2018, Cliffside Park accounting firm Ennis Hargadon has merged with MSPC Certified Public Accountants and Advisors, P.C. The addition of two principals brings MSPC’s partner count to 11 and the firm’s total head count to 67. Driving the merger was both organizations’ extensive knowledge and experience with…

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Regulatory News: Taxpayer Deductions

By mspccpas | August 11, 2017

The United States Tax Court (the “Tax Court”) recently issued a significant opinion, that of RERI Holdings I, LLC v. Commissioner, 149 T.C. 1 (2017).  In that case, the taxpayer, on its partnership tax return for the 2003 taxable year, claimed a $33 million charitable contribution deduction stemming from its…

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Foreign Nationals Investing in U.S. Partnerships May be Entitled to Tax-favorable Treatment

By mspccpas | July 15, 2017

On July 13, 2017, the United States Tax Court (the “Tax Court”) issued a very important opinion, that of Grecian Magnesite Mining, Industrial & Shipping Co., SA, v. Commissioner 149 T.C. 3 (2017).  In this case, the Tax Court rejected the Internal Revenue Service’s (the “IRS’s”) approach for determining whether…

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New lease accounting rules set to lift debt load by 24%

By mspccpas | February 27, 2017

Companies with chartered-in fleets face changing rules when presenting their accounting statements.Although it will have little impact on actual cash flows, investors and creditors will have to adjust their performance measurements to account for the changes.A year ago, Although it will have little impact on actual cash flows, investors and…

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