Unleash the Power of The Press

accounting

Rodman & Rodman to Speak on Topic of “How Much is Your Business Worth” at Seminar on November 17th at the Newton Library

 

John P. McGovern, CPA, CVA, ABV

On Wednesday, November 17, 2010, Rodman & Rodman P.C., will speak to the Newton Retirement Planning Club on the topic of “How Much is Your Business Worth” at 7:00 p.m. in the Trustees Room of the Newton Library, located at 330 Homer Street in Newton. This seminar is open to the public and there is no cost to attend.

The seminar will be led by John P. McGovern, a CPA and Certified Valuation Analyst (CVA) at Rodman & Rodman, PC. He is Accredited in Business Valuation (ABV) and has over 20 years of experience in valuing privately held businesses in a number of different industries.

McGovern will discuss the importance of obtaining business valuations on a regular basis. Through business valuation, business owners gain a better knowledge of their assets versus liabilities as well as asset values for loan, divorce and estate planning purposes.

A business valuation performed by a qualified professional such as McGovern has the benefit of reducing uncertainty with respect to the issues of fairness, litigation defense and protection from taxing authorities who often challenge valuations that are not prepared with due professional care.

To reserve your seat at the “How Much is Your Business Worth” seminar, RSVP to Coordinator Richard Suder at 617-329-1185 or richard.suder@yahoo.com.

Rodman & Rodman, P.C.

Founded in 1961, Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies throughout New England. With offices in Newton and Braintree, Rodman & Rodman focuses on strategic planning – going beyond traditional accounting services and taking a proactive approach when serving clients to increase, preserve and sustain clients’ financial net worth.

Rodman & Rodman P.C has been listed in the Top 50 Firms by the Boston Business Journal and they have been named one of the “Best Accounting Firms to Work For” in Accounting Today.

From business valuations, taxation, audits, fraud detection and prevention services and succession planning to a variety of accounting IT services including software selection, implementation and training, the team at Rodman & Rodman serves as comprehensive advisors to clients. For individual clients, the company offers personal advisory services such as planning for real estate transactions, obtaining financing, estate planning and retirement planning as well as planning for college education. Rodman & Rodman Certified Public Accountants are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, Mass. For more information, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman to Speak on Topic of “How Much is Your Business Worth” at Seminar on November 17th at the Newton LibraryRead More

Newburg & Company, LLP Expands and Relocates to Waltham Woods Corporate Center to Accommodate Rapid Growth

Newburg & Company, LLP, one of the leading CPA firms in the New England area providing tax and accounting services for businesses and high net worth individuals, has recently relocated their corporate office from Wellesley to the state-of-the-art Waltham Woods Corporate Center located at 890 Winter Street, Suite 208 in Waltham.

Newburg & Company joins fellow tenants Microsoft, Atlas Ventures, Avaya and others in the 180,000 square foot building, occupying 11,520 square feet of first class office space, which is almost twice the size of their previous space.

“The new space positions us for continued future growth, while offering a more collaborative workspace that will further enhance the client experience,” noted Howard M. Newburg, Managing Partner at Newburg & Company, LLP. The company has expanded to 27 employees.

Newburg & Company has been providing comprehensive tax, accounting and consulting services to businesses and individuals for more than 25 years. The firm experienced significant growth over the last three years which led to the need for additional space. Newburg’s staff has grown to a total of 27 professionals and the company is in the process of recruiting additional CPAs.

About Newburg & Company, LLP

Founded in 1984, Newburg & Company, LLP is a full-service CPA firm providing tax planning, tax compliance, audit/accounting services, business valuation, and other management advisory services such as forensic accounting and litigation support. Newburg’s expert team of Certified Public Accountants (CPAs), Certified Valuation Analysts (CVAs) and Chartered Financial Analysts (CFAs) provide comprehensive services to a wide range of clients including businesses and high net worth individuals. They have a diverse client base and industry experience in areas such as high tech, retail , restaurant, manufacturing, distribution, bio-tech, condo associations and other industries.

The Company is headquartered at 890 Winter Street, Suite 208 in Waltham. For more information, contact (781) 884-4100 or visit the website at www.newburg.com .

Newburg & Company, LLP Expands and Relocates to Waltham Woods Corporate Center to Accommodate Rapid GrowthRead More

Rodman & Rodman CPAs Provide Insight on Recent HIRE Act

Rodman & Rodman, P.C., a firm of CPAs and Business Strategists based in Newton and Braintree, provides insight on the Hiring Incentives to Restore Employment (HIRE) Act, that carries hiring incentives and stimulus measures.

Last month, President Obama signed into law H.R. 2847, otherwise known as the HIRE Act.

Rodman & Rodman outline what the act means to employers who hire qualified unemployed workers:

Under the HIRE Act, employers are exempt from paying the employer share of Social Security employment taxes on wages paid in 2010 to newly hired, qualified unemployed workers. The payroll tax relief applies only for wages paid with respect to employment beginning March 19th and before 2011. There are stipulations though. It applies to workers who: (1) begin employment with the employer after February 3, 2010 and before January 1, 2011; (2) were previously unemployed and; (3) do not replace other employees of the employer.

Employers will receive an up-to-$1,000 tax credit for retaining qualified unemployed workers. The workers must be employed by the employer for a period of not less than 52 consecutive weeks, and their wages for such employment during the last 26 weeks of the period must equal at least 80% of the wages for the first 26 weeks of the period.

For tax years beginning in 2010, the Act boosts to $250,000 the maximum amount that can be expensed under Code Sec. 179, and boosts to $800,000 the beginning of the investment based phaseout amount.

The Act allows issuers of certain tax credit bonds to elect to receive a direct payment instead of a tax credit to the bondholder.

The Act enacts a comprehensive set of measures to reduce offshore noncompliance.

HIRE Act also delays the application of worldwide allocation of interest for an additional three years.

Large corporations should be aware that the HIRE Act tinkers with their estimated tax payments in future tax years.

Rodman & Rodman advises employers to check with their accountant(s) to ensure they have a thorough understanding of the provisions of the new law. To speak with a CPA at Rodman & Rodman,

contact 617-965-5959.

Rodman & Rodman, P.C.

Founded in 1961, Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies throughout New England. With a focus on strategic planning, Rodman & Rodman goes beyond traditional accounting services and takes a proactive approach when serving clients to increase, preserve and sustain clients’ financial net worth.

From business valuations, taxation, audits, fraud detection and prevention services and succession planning to a variety of accounting IT services including software selection, implementation and training, the team at Rodman & Rodman serves as comprehensive advisors to clients. For individual clients, the company offers personal advisory services such as planning for real estate transactions, obtaining financing, estate planning and retirement planning as well as planning for college education. Rodman & Rodman Certified Public Accountants are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, Mass. For more information, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman CPAs Provide Insight on Recent HIRE ActRead More

Rodman & Rodman CPA Offers Tips for Small Businesses on How to Avoid the Mistakes of “Big Business”

Can a smaller business make the mistakes that behemoths Chrysler and GM did? According to Larry Rice, CPA who is Director of Strategic Consulting at Rodman & Rodman Certified Public Accountants and Business Strategists, small businesses can certainly make those mistakes, just on a smaller scale.

According to Rice, “Many of the problems that plague huge multinational corporations are often the same problems entrepreneurial-type businesses face. We can see on a national basis what happens when businesses take their eye off the ball. Small businesses cannot afford to make these mistakes…there’s no government bail-out for small business.”

Rice offers small businesses owners tips on how to grow and flourish as the market recovers:

Always be aware of your competitors and their plans. Many of the problems that Chrysler and GM face today could have been avoided with an aggressive plan to address their Japanese competitors 30+ years ago. By not addressing costs, quality and management/labor relations aggressively, they left the door open for foreign competition to get a foothold that should have been much more difficult to obtain. Small business owners MUST periodically (at least annually) sit down and do a competitive analysis of your industry. Look at your competitors’ advantages and determine whether you need to do something now to address it. If you have lost business to your competition, find out exactly the reason they left. Do NOT assume you know why, ask them directly if possible. If you hear a trend of reasons, you better take action quickly.

Project your cash flow. What’s the difference between GM and Chrysler and Ford (who did not have government intervention)? Ford better understood the predicament it was in from a cash flow perspective more than two years ago. At that time, Ford mortgaged everything for cash in what it saw then as a fight for long-term survival. Nothing is certain moving forward, but Ford has thus far weathered the storm, while making small market share gains and important investments in new vehicles and technology which will keep the business moving forward. As a small business owner, it’s important to project cash flow forward, at least six months, and update your cash flow projection monthly, so that you will have an early warning system in place to help you take steps to avoid the catastrophe of running out of money.

Your team is not your enemy. Animus between management and labor has only recently been turned around in the automobile industry so that everyone has begun working together towrard common goals. They still have a long way to go, which only proves that implementing a management-by-fear-and-intimidation ideology (or for that matter letting your employees run the place) will get you nowhere. Often, it is your non-skilled employees who will come up with the best ideas on how to improve business processes. Treat them poorly and you’ll get nothing beyond the bare minimum of effort. Small business owners take heed and include your team in strategy sessions and obtain feedback from them constantly.

Perception is reality. It’s imperative for small business owners to understand customer perception because that is the reality of your relationship with them. If it is good, you can ask for referrals and ask them to buy more and so on. If it is poor, you must begin to repair that perception with some excellent reality. But, first, feedback must be solicited from them. This can be done via personal conversations, surveys (preferably anonymous to get the greatest amount of truth), customer advisory boards, any number of methods. Americans perceive things about American maker vehicles which are no longer true in many cases. Certain American cars have equal and in some cases better quality construction than their foreign competitors. As you can see, it has been very difficult for American makers to get that message across. Small business owners need to communicate positively, proactively and frequently with customers. This enables you to shape their perceptions and avoid being a business victim.

Rice is a CPA and business development guru who works with a wide range of small to mid-sized businesses at Rodman & Rodman. Rice’s expertise lies in profit improvement strategies, performance measurement, information system analysis and improvement as well as strategic visioning and planning. He is dedicated to helping businesses achieve their short and long term goals. He has been featured on Bloomberg Radio, CN8-TV and other media outlets.

Rodman & Rodman, P.C.

Founded in 1961, Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies throughout New England. With a focus on strategic planning, Rodman & Rodman goes beyond traditional accounting services and takes a proactive approach when serving clients to increase, preserve and sustain clients’ financial net worth.

From business valuations, taxation, audits, fraud detection and prevention services and succession planning to a variety of accounting IT services including software selection, implementation and training, the team at Rodman & Rodman serves as comprehensive advisors to clients. For individual clients, the company offers personal advisory services such as planning for real estate transactions, obtaining financing, estate planning and retirement planning as well as planning for college education. Rodman & Rodman Certified Public Accountants are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, Mass. For more information, visit their website at www.rodmancpa.com

Rodman & Rodman CPA Offers Tips for Small Businesses on How to Avoid the Mistakes of “Big Business”Read More

Rodman & Rodman CPA to Hold “Social Networking and Your Business” Seminar on February 18th

Rodman & Rodman, P.C., Certified Public Accountants and Business Strategists with offices in Braintree and Newton, will offer a complimentary “Social Networking and Your Business” seminar on Thursday, February 18, 2010 from 7:30 a.m. To 9:30 a.m. At 50 Braintree Hill Office Park in Braintree.

 

This seminar is geared toward business owners and others who are looking for an inexpensive way to reach existing and potential customers on a worldwide basis. Todd Norwood, Vice President of Technology at The Norwood Group will lead the discussion. Norwood will speak about Facebook, Twitter and LinkedIn and how to explore the business potential of each and utilize them to gain better business leverage.


There is no cost to attend and light refreshments will be served.

Space is limited. Registration is required. To register, contact Ann Reading at 617-965-5959 or email at ann@rodmancpa.com.

 

Rodman & Rodman, P.C.

Founded in 1961, Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies throughout New England. With a focus on strategic planning, Rodman & Rodman goes beyond traditional accounting services and takes a proactive approach when serving clients to increase, preserve and sustain clients’ financial net worth.


From business valuations, taxation, audits, fraud detection and prevention services and succession planning to a variety of accounting IT services including software selection, implementation and training, the team at Rodman & Rodman serves as comprehensive advisors to clients. For individual clients, the company offers personal advisory services such as planning for real estate transactions, obtaining financing, estate planning and retirement planning as well as planning for college education. Rodman & Rodman Certified Public Accountants are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, Mass. For more information, visit their website at www.rodmancpa.com or contact (617) 965-5959.


Rodman & Rodman CPA to Hold “Social Networking and Your Business” Seminar on February 18thRead More

Rodman & Rodman PC Warns Taxpayers that “Use Tax” Audits are on the Rise

Taxpayers may be subject to Massachusetts “Use Tax” on out of state purchases even though they are not required to file sales tax returns.

Rodman & Rodman Certified Public Accountants and Business Strategists alerts taxpayers to a significant rise in use tax audits. Massachusetts has stepped up enforcement and collection efforts, including tax audits, on taxpayers who purchase assets (such as computers, furniture and equipment) from out of state vendors.

In many cases auditors are assessing use tax for up to six years prior. This can lead to a substantial assessment as Massachusetts can impose not only the use tax but penalties and interest as well.

The law requires that taxpayers pay a Massachusetts use tax (similar to a sales tax) on the purchase of out of state items if the vendor does not collect Massachusetts sales tax and the item is used in Massachusetts.

The most typical instance of this usually involves a taxpayer purchasing computers from an out of state vendor and using such equipment in Massachusetts.

It is important to review your records for these types of expenditures, complete the appropriate use tax form available on the Massachusetts Department of Revenue website and pay the necessary tax.

Rodman & Rodman recommends that taxpayers file a use tax form even if they owe no tax as it reduces the risk of an audit. Additionally, a filed use tax return starts the clock running on the statute of limitations.

According to Thomas Astore, Tax Director at Rodman & Rodman, “Generally, the state can assess use tax for three years; however, the statute of limitations remains open indefinitely if you do not file the necessary tax returns. We recommend that you consult your tax advisor if you have questions.”

Rodman & Rodman, P.C.

Founded in 1961, Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies throughout New England. With a focus on strategic planning, Rodman & Rodman goes beyond traditional accounting services and takes a proactive approach when serving clients to increase, preserve and sustain clients’ financial net worth.

From business valuations, taxation, audits, fraud detection and prevention services and succession planning to a variety of accounting IT services including software selection, implementation and training, the team at Rodman & Rodman serves as comprehensive advisors to clients. For individual clients, the company offers personal advisory services such as planning for real estate transactions, obtaining financing, estate planning and retirement planning as well as planning for college education. Rodman & Rodman Certified Public Accountants are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, Mass. For more information, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman PC Warns Taxpayers that “Use Tax” Audits are on the RiseRead More

Mark J. Diodati, CPA Joins Damon, Topham & Company of Marshfield

Damon, Topham & Company, LLC of Marshfield, a full service multi-disciplined firm of Certified Public Accountants, providing accounting, taxation, business development and financial services, has recently appointed Mark James Diodati, CPA as Senior Accountant.

In his new role as Senior Accountant, Mr. Diodati will prepare individual and corporate tax returns and non-profit informational returns. He will also perform compilations, reviews and audits; respond to tax notices and offer general tax, financial, and accounting advice.

Previous to joining Damon, Topham & Company, Mr. Diodati held a position at a local firm as a Senior Accountant. Previous to that, he held a position of staff accountant at another local firm.

Mr. Diodati is a graduate of Thayer Academy High School in Braintree. He holds a Bachelor of Science in Accounting and Finance as well as a Master of Science in Accounting from Northeastern University in Boston. He is a Massachusetts Certified Public Accountant and a member of the MSCPA.

He is a native and resident of Weymouth.

About Damon, Topham & Company

Damon, Topham & Company, LLC, Certified Public Accountants and Business Development Advisor, has twice been named as one of the Boston Business Journal’s “Top 50 Accounting Firms.”

Utilize the “Damon, Topham Advantage” – go beyond the traditional services of auditing, accounting and taxation.  Damon, Topham & Company provides business valuation, estate, individual and corporate tax planning and savings, financial planning, consulting and financing solutions for you, your business and your family.  A full service multi-disciplined firm, Damon, Topham & Company has been serving the South Shore for over 20 years.

Damon, Topham & Company, LLC offices are located at 475 School Street, Suite 8 in Marshfield and at 21 Custom House Street, Suite 910 in Boston.

For more information contact (781) 837-1993 or visit the company’s website at www.damtopcpa.com.

Mark J. Diodati, CPA Joins Damon, Topham & Company of MarshfieldRead More

QuickBooks Seminars for Business Owners in January

Rodman & Rodman, P.C., Certified Public Accountants and Business Strategists will offer complimentary QuickBooks seminars for business owners at two locations in January.

On Tuesday, January 5, 2010, from 7:30 a.m.- 9:30 a.m., a QuickBooks seminar will be held at Rodman & Rodman’s Newton office located at 3 Newton Executive Park.

On Tuesday, January 12, 2010 from 7:30 – 9:30 a.m., a QuickBooks seminar will be held at the company’s Braintree office located at 50 Braintree Hill Office Park in the second floor Conference Room.

QuickBooks has emerged as the dominant small business accounting software. QuickBooks software enables business owners to get the “bookkeeping” of their business done, but also gives business owners the features, tools and reporting that helps them to run their business more efficiently and profitably.

Kathy Parker, CPA, a Partner at Rodman & Rodman, P.C. has been a Certified QuickBooks Advanced Pro Advisor for more than a decade and will lead the seminar and advise business owners on how to get the most out of QuickBooks.  A questions and answer session will follow the presentation.

These seminars are free and light refreshments will be served.

To register, contact Jen Minor at 617-965-5959 or email at jen@rodmancpa.com.

Co-sponsored by PR Works.

QuickBooks Seminars for Business Owners in JanuaryRead More