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Rodman & Rodman, P.C. Appoints Thomas Astore to Lead “Green Team” Clean Energy Practice

Rodman & Rodman, P.C., Certified Public Accountants and business strategists catering to small and medium sized companies throughout New England and beyond, has announced that Thomas Astore, CPA, JD, will lead the “Green Team” Renewable Energy and Clean Technology Practice.

Rodman & Rodman’s Green Team, assists alternative energy producers and investors with expert green energy tax advisory, accounting services, and business strategy through all stages of their project and business lifecycle.

Astore, who also serves a Rodman & Rodman’s Tax Director, will lead the Green Team in helping alternative energy and clean technology businesses determine the financial viability of their renewable energy projects and assist with the complexities of the various federal and state tax credits and incentives. The Green Team also provides accounting and compliance support with regulatory agencies. Astore is a graduate of Hofstra University and Fordham Law School, where he also was a member of the law review.

Steve Rodman, president of Rodman & Rodman explained, “We have invested a significant amount of time and energy in the clean technology business and have a comprehensive understanding of the various business models, their particular needs and the complex tax laws. Tom is highly experienced in these areas and is the ideal leader for our ‘Green Team’.”

He continued, “Over the past few years many states have enacted Renewable Portfolio Energy Standards (RPS) requiring a percentage of energy consumed in the state to come from renewable sources. To date, just over half of the states have enacted this kind of legislation. Massachusetts added the Green Communities Act which establishes an RPS standard that will increase over the next several years with the goal of achieving 25% by 2030. Because of this increasing standard, electric utilities will be looking to add renewable sources to their portfolios, either by direct investment or by purchasing the electricity from outside suppliers. The demand for renewable energy is only going to increase and our Green Team will help position clean energy companies and projects for success.”

Rodman & Rodman’s Green Team offers its services for companies in the biomass, wind, solar, geothermal, landfill gasses, municipal solid waste, hydroelectric and hydrokinetic sectors of the renewable energy industry. They also assist startup projects (which typically do not earn taxable income in their first years and benefit from a tax credit) with the Section 1603 program.

About Rodman & Rodman, CPAs “Green Team”

The Rodman & Rodman Green Team is a specialized green energy and clean technology accounting and tax services practice within 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. The company has been named one of the “Best Accounting Firms to Work For” in Accounting Today and is listed in the Boston Business Journal’s “Top 50 Firms”.

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, P.C. are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, MA. For more information, email greenteam@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Thomas Astore, CPA, JD

Rodman & Rodman, P.C. Appoints Thomas Astore to Lead “Green Team” Clean Energy PracticeRead More

Ann Reading Joins Rodman & Rodman, P.C.

Ann Reading, a resident of Wayland, has joined Rodman & Rodman P.C., a firm of Certified Public Accountants and business strategists catering to clients throughout New England. Ms. Reading has been appointed as Administrative Assistant and will work at Rodman & Rodman’s Newton office.

In her new position, Ms. Reading will be responsible for office administration as well as billing, tax return assembly, deposits, ordering and more. Previous to Rodman & Rodman, Ms. Reading spent nine years working in the Service Department at Lee Imported Cars of Wellesley. She is a graduate of Dover-Sherborn High School.

For more information about Rodman & Rodman, visit rodmancpa.com.

About 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. The company has been named one of the “Best Accounting Firms to Work For” in Accounting Today and is listed in the Boston Business Journal’s “Top 50 Firms”.

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, P.C. are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, MA. For more information, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Ann Reading

Ann Reading Joins Rodman & Rodman, P.C.Read More

Rodman & Rodman, P.C. Shares Cash Flow Tips for Small Business

Statistics show that in a good economy, approximately one third of all small businesses do not survive their first year of business. Approximately two-thirds do not survive year three. The primary reason a business fails is poor financial management, which in many cases is preventable.

So how can a small business survive in a bad economy? Larry Rice, CPA, Director of Strategic Consulting of Rodman & Rodman, P.C., Certified Public Accountants and business strategists catering to small and medium sized companies throughout New England, outlines critical cash flow tips for small business owners to help them weather a bad economy and beyond.

Create a cash flow projection or plan. Every small business should measure projected cash flow one year forward. That projection should be updated on a quarterly basis. A good cash flow projection starts with a good sales projection. Use historical data and be sure to consider any changes in your environment such as competition, economic change, etc. Once you have that sales projection, then it is a matter of translating those sales into the time frames that you get paid for those sales. When you place the payment for those expenses along side the receipt of revenues, you’ve created a cash flow projection.

Plan appropriately for capital expenditures. Due to an aversion of debt, many business owners pay cash for significant corporate assets. This can lead to a cash flow disaster. A good rule of thumb is that all long term assets should be financed over the expected life of those assets. If you are going to buy a machine that will last 10 years, you should seek to finance it over those 10 years. The idea is to match the outflows (the payment for the assets) to the time you expect to generate inflows (sales) from the use of that asset.

Better your credit management. Eager to make any sales, some owners do not have strong credit policies. The worst of all cash flow problems is to expend all the resources to make a product or provide a service, and then not get paid for it. Small business can not be too eager to have just any customers; they need to have the right customers. Go after the customers you want, not the customers who will waste your energy as you chase them to get paid.

Manage suppliers. Small business often pays its bills at designated times, which often are too early. Sometimes this is for convenience but can be dangerous to cash flow. Bills should be
paid timely to maintain good customer relations, but as close to the due date as possible. Seek opportunities for taking the better discounts for prompt payment from suppliers.

Manage inventory. Sometimes owners do not want to rid themselves of stale inventory at a discount, hoping that some customer will appear to pay full price. Sometimes the best course is to get rid of the inventory and use the cash for other more practical purposes.

Maintain a good relationship with a bank/lending officer. Not all credit decisions are objective. By maintaining positive communications, sometimes credit which might not be available can be secured when you maintain an open dialogue

According to Rice, “The most important financial statement is not the Balance Sheet or Profit and Loss; it is the Cash Flow Statement. Only the cash flow statement tells you how much cash your business is generating from operations. A very profitable company can still fail if the cash flow isn’t there to sustain that profit. Bottom line: more businesses fail because of poor cash flow than poor profit. Good cash flow planning is the key to small business success in any economy.”

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, Mass. For more information, visit their website at www.rodmancpa.com or contact Jen Reading at (617) 965-5959.

Larry Rice CPA, Rodman & Rodman

Rodman & Rodman, P.C. Shares Cash Flow Tips for Small BusinessRead More

Bobby Newcomb Joins Rodman & Rodman, P.C.

Rodman & Rodman P.C., a firm of Certified Public Accountants and business strategists catering to clients throughout New England, recently appointed Bobby Newcomb, a native and resident of Quincy, as Staff Accountant.

Mr. Newcomb will work out of Rodman & Rodman’s Newton office and provide accounting and tax services to corporate and individual clients. Prior to joining the Rodman & Rodman team, Mr. Newcomb served as a Financial Analyst in Accounts Payable at Boston Scientific Corporation.

Mr. Newcomb holds a Bachelor of Science degree in Accounting from Johnson & Wales University in Providence, RI and is a member of the Massachusetts Society of Certified Public Accountants (MSCPA). He will take the CPA exam later this year.

In his spare time, Mr. Newcomb is the assistant coach of Johnson & Wales golf team and is very active in the university’s community.

For more information about Rodman & Rodman, visit 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. The company has been named one of the “Best Accounting Firms to Work For” in Accounting Today and is listed in the Boston Business Journal’s “Top 50 Firms”.

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, P.C. are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, MA. For more information, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Bobby Newcomb

Bobby Newcomb Joins Rodman & Rodman, P.C.Read More

Damon, Topham & Company Appoints Anthony Anchukaitis, CPA, CFP, PFS as Director of Tax

Damon, Topham & Company, LLC of Marshfield, a full service multi-disciplined firm of Certified Public Accounts, providing accounting,auditing, taxation, business development and financial services, has recently appointed Anthony Anchukaitis, CPA, CFP, PFS as Director of Tax.

In his role, Tony will be full responsible for the Tax Department. His responsibilities will encompass the management of all personnel, administrative and compliance, issues relating to tax matters. He will oversee and review the preparation of all returns along with tax consultation and tax research services.

Tony advises high net worth individual clients, their businesses and families and works closely in providing tax, personal financial planning for these individuals and their closely held businesses, both in the domestic and international tax areas.

Previous to joining Damon, Topham & Company, Tony held a position Director of Tax for American Express Tax and Business Services and Tax Service Partner for BDO Seidman, LLC.

Tony is a graduate of Bentley College. He is a member of the American Institute of Certified Public Accountants (AICPA), Massachusetts Society of Certified Public Accountants (MSCPA), and the MSCPA’s Tax Committee. Tony resides in Wrentham, MA and is a Walpole, MA native.

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.

Damon, Topham & Company Appoints Anthony Anchukaitis, CPA, CFP, PFS as Director of TaxRead More

Rodman & Rodman shares “Top 10 Things Your Accountant Wants to Tell You”

FOR IMMEDIATE RELEASE

Larry Rice, CPA

CONTACT: Steven V. Dubin, PR Works, (781) 582-1061, sdubin@prworkzone.com

Local CPAs Share the “Top 10 Things Your Accountant Wants to Tell You”

DATELINE: BRAINTREE AND NEWTON, MASS… As tax season commences, Rodman & Rodman P.C., CPAs and Business Strategists with offices in Braintree and Newton, shares the “Top 10 Things Your Accountant Wants to Tell You” to make filing taxes easier on both the tax payer and the CPA.

Take heed:

1)If your accountant sends you a tax organizer to complete and send in, don’t concern yourself so much with filling in the numbers. Just be sure to answer the questions in the organizer and provide the necessary documents. Answering the questions may raise an issue of importance that needs addressing.

2)Send in your information when you have MOST of it, not all of it. Indicate what is missing and get it in when you have it. Waiting until the last document is received puts more time pressure on your CPA to get more done in less time.

3)Notes are helpful. Anything which helps clarify an issue or that may be a question about an issue, helps.

4)Please be sure to confirm any estimated taxes you paid during the year. This is probably the area where the most misunderstandings occur and mistakes are made.

5)Don’t overvalue your clothing donations. There are guides available to help you value these items. Just because a sweater cost you $100, it doesn’t mean it is worth $50 or more to the homeless gentleman who is grateful to wear it. This is an issue of IRS interest. If you get audited, they’ll be looking at these donations, so be conservative.

6)Extending your return does not make it more likely to be audited. If you know you won’t have it together before April 15th, let your CPA know as soon as possible so an extension can be prepared well ahead of the deadline. Extending early takes significant pressure off everyone involved.

7)Make sure your CPA is aware of major events that could affect your taxes as far ahead of that event as possible. In many cases, once that event passes, the ability to take best tax advantage of it passes with it.

8)Missing documents cost time and money. Keep a folder, envelope or file for documents of a tax nature. When in doubt, put it in this folder and send it. While accountants aren’t crazy about shoe boxes full of receipts, having 30 percent of your information missing is a time killer.

9)If you buy and sell stock during the year, be sure to include a gain or loss schedule on these stocks sold. You may have to ask your broker for that information or oftentimes a schedule is available online.

10)The IRS almost never communicates with taxpayers except through official, mailed correspondence. Never respond to a phone inquiry or email inquiry without contacting your CPA first. You could be at risk for identity theft as theives posing as the IRS will try to obtain your social security number by phone or email.

According to Larry Rice, CPA, Director of Strategic Consulting at Rodman & Rodman, “Many of these tips may seem too simple to make a difference, but essentially, they do. A lot of time is wasted when your accountant has to double back and hound you for additional detail or receipts. Decent record-keeping and good communication are key for smoother and more efficient tax filing all around.”

Rodman & Rodman, P.C.

Founded in 1961, Rodman & Rodman, P.C. provides accounting, tax and business services to individuals anbd small to medium-sized companies throughout New England. 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 has achieved the designation of “Green Certified Business” from the Institute for Green Business Certification, Inc. (IGBC), demonstrating their outstanding commitment to the environmental health and well-being of the communities they serve. The company has taken the lead in Recycling,Water Conservation, Energy Conservation, Waste Reduction, and Environmentally Friendly Purchasing as well as the environmental elements of the EPA and OSHA regulations.

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

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 shares “Top 10 Things Your Accountant Wants to Tell You”Read More