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Steve Rodman of Rodman & Rodman Graduates from Boston University’s Leading Clean Energy Ventures Program

Steve Rodman

Steve Rodman, CPA, MST, President of Rodman & Rodman, P.C., an independent accounting firm with a specialty practice in clean technology and renewable energy projects, recently became one of 12 graduates of the 2012 class of Fellows of the Leading Clean Energy Ventures (LCEV) program.

The Leading Clean Energy Ventures Fellowship is an innovative development program offered by the New England Clean Energy Council (NECEC) and Boston University School of Management. Designed for experienced entrepreneurs and executives, the program focused on the complexity of energy markets and diverse clean technology companies at various stages of development.

“The Leading Clean Energy Ventures program is a terrific program that is focused on solving real world market challenges. It is a must for those looking to transition into the clean energy sector,” noted Rodman.

Rodman is a member of the Northeast Sustainable Energy Association (NESEA) which is a chapter of the American Solar Energy Society and the nation’s leading regional membership organization promoting sustainable energy solutions. The Rodman & Rodman firm is also a member of New England Clean Energy Council, and a sponsor of the Association of Cleantech Incubators of New England (ACTION).

Rodman & Rodman’s “Green Team”, is a specialized green energy and clean technology practice within the firm that focuses on alternative energy producers and investors. The Green Team provides clients in biomass, wind, solar, geothermal, landfill gasses, municipal solid waste, hydroelectric and hydrokinetic sectors of the renewable energy industry with expert green energy tax advisory, accounting services and business strategy through all stages of their project and business lifecycles.

About Rodman & Rodman P.C.

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms”, Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. 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 Rodman & Rodman Green Team is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves “green” clients throughout the U.S. The company is Green Business Certified and in 2010 and 2011 was 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, P.C. are located at 3 Newton Executive Park in Newton and 25 Braintree Hill Office Park in Braintree, MA. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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Rodman & Rodman CPAs Outline 2012 Sales Tax Holiday for Consumers and Retailers

Massachusetts residents will be able to enjoy a Sales Tax Holiday weekend on August 11th and 12th.

“The Commonwealth of Massachusetts will not be collecting the 6.25 percent sales tax on tangible purchases of $2,500 or less that are for personal use,” explains Thomas Astore, CPA, JD, Partner at Rodman & Rodman, P.C. “Business purchases and purchases made by corporations remain taxable. All Massachusetts businesses normally open during this weekend and selling taxable items of tangible personal property are required to participate in this sales tax holiday.”

Rodman & Rodman, P.C., is a CPA firm specializing in tax expertise and business strategy for small and medium sized companies throughout New England and beyond.

According to Rodman, consumers will be able to enjoy tax savings in compliance with the following rules that will be in effect for the weekend:

  • Business purchases are excluded, which also means any purchase made with a business check or business credit card.
  • All services are excluded. Only tangible purchases are eligible. Airline tickets and sporting events are considered services.
  • Motor vehicles (which include ATVs and small motorcycles), motorized boats, telecommunications services (including prepaid calling arrangements and cards), gas, steam, electricity, tobacco products and meals are excluded from the sales tax holiday. But, telecommunications equipment (cell phones and related items for personal use) are eligible.
  • Any single item with a price that is in excess of $2,500 is excluded. If the single item’s price exceeds $2,500, it will be taxed in full. For example a $3,000 plasma TV will be taxed on the entire $3,000 sale price.
  • When more than one item is purchased at the same time, and each item has a price of $2,500 or less, then all of the items may be rung up on one receipt and all the items are tax-free.
  • There is no sales tax on clothing unless the sale price exceeds $175. For an article of clothing exceeding this amount, the $175 will be deducted from the price and the remaining amount will be taxed.
  • If a store coupon or discount provided by a retailer or manufacturer reduces the sales price of the item, the discounted sales price determines whether the sales price is within the sales tax holiday price threshold of $2,500 or less.
  • Prior sales and lay-a-ways do not qualify for the tax-free status under any circumstances.
  • Special order items such as furniture are eligible so long as they are ordered and paid in full on the sales tax holiday weekend, and the cost of each item is $2,500 or less, even if delivery is made at a later date.
  • Internet purchases are exempt from sales tax as long as they do not exceed $2,500 (and meet other criteria) and are made and paid for on August 11 or 12, Eastern Standard Time.

For more information, visit the Massachusetts Department of Revenue at www.mass.gov or for tax questions contact Rodman & Rodman, P.C. At (617) 965-5959.

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. The Rodman & Rodman Green Team is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C.

The company’s offices 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.

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1603 Grant Program Not Extended -Rodman & Rodman CPAs Provide Insight on the Effect on Smaller Projects

A few weeks ago, Congress had an opportunity to boost the renewables economy by passing an amendment that would extend the 1603 Grant Program for another year. The failure of this legislation to pass (by a 49-49 Senate vote) is disappointing to those who are involved in the renewable energy arena.

According to Steve Rodman, CPA, MST, president of Rodman & Rodman, P.C. providers of Green Energy financial/accounting services and business strategy for solar, wind, biomass, and cleantech companies, “The loss of this source of grant money will create new challenges for the future. The renewable energy economy is not completely felled by the expiration of the 1603. The program reverts back to the Investment Tax Credit (ITC) through 2016, which allows for a 30 percent tax credit (instead of the cash grant) for certain renewable energy projects. However, making use of the credit can be very difficult with small and medium sized projects.”

Rodman, who is a member of the New England Clean Energy Council (NECEC) and Northeast Sustainable Energy Association (NESEA) continued, “It is rare that the smaller developer would have the tax appetite. For example, a $2 million project generates a $600,000 credit which is a lot of tax credit to make use of for the typical regional developer. The 30 percent cash grant in lieu of the credit didn’t cost the government any more than some bank interest, but certainly made financing a project much more practical. Now the developer will likely need to find an investor for the project who is interested in being allocated the tax credits in exchange for his investment dollars.”

To sum it up:

· Large banks that participate this way on utility scale deals are not interested in a few million dollars of credits, never mind a $2 million project that generates $600,000 of credits.

· Smaller institutions typically don’t have the experience with this type of investment.

· High net worth individuals need to have substantial “passive” income to qualify. This precludes those investors with large salary, interest and dividend income from qualifying as those types of income are not considered passive and the ITC cannot offset taxes from active and portfolio income.

“The growth in the industry over the last few years can be directly traced to the incentives programs like the ITC and the 1603 Program. The challenges from expiration of the grant program will be overcome with creativity and education of the capital marketplace. But there will be a slowdown until this fully evolves,” Rodman concluded.

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 is Green Business Certified and in 2010 and 2011 was named one of the “Best Accounting Firms to Work For” in Accounting Today. Rodman & Rodman 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. The Rodman & Rodman Green Team is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C.

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 info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Steve Rodman, CPA, MST

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Rodman & Rodman CPA Firm Named a “2011 Best Accounting Firm to Work For”


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

Rodman & Rodman CPA Firm Named a “2011 Best Accounting Firm to Work For”

DATELINE: BRAINTREE AND NEWTON, MASS…
For the second consecutive year, Rodman & Rodman, P.C. , providers of accounting, tax and business services to small and medium-sized companies throughout New England, was recently named as one of the 2011 Best Accounting Firms to Work for. The annual list of “Best Accounting Firms” was created by Accounting Today and Best Companies Group.

This survey and award program was designed to identify, recognize and honor the best places of employment in the accounting industry, benefiting the nation’s economy, its workforce and businesses. The Best Accounting Firms to Work for list is made up of a total of 100 companies. Rodman & Rodman has been named one of the Best Accounting Firms to Work for in the small sized company category.

Accounting firms from across the country entered the two-part survey process to determine the Best Accounting Firms to Work for. The first part consisted of evaluating each nominated firm’s workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top firms and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings.

“We’re proud to have been acknowledged with this honor,” said Steve Rodman, president of the firm. Rodman & Rodman has also been named as one of the Top 50 Firms by the Boston Business Journal.

The ranking of the 4th annual Best Accounting Firms to Work for will be unveiled at an awards ceremony sponsored by ADP during Accounting Today’s 2nd Annual Growth & Profitability Summit on October 25th – October 27th at the Bellagio Hotel & Casino in Las Vegas. The list-making firms will also be published in the December issue of Accounting Today.

For more information on the Best Accounting Firms to Work for program, visit www.BestAccountingFirmstoWorkfor.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. The Rodman & Rodman Green Team is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C.

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.
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