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Rodman & Rodman Supports “Act Relative to Net Metering and Solar Power”

Steve Rodman, CPA, MST
Steve Rodman, CPA, MST

Rodman & Rodman, P.C., an independent accounting and tax firm with a Renewable Energy and Cleantech specialty practice serving “green” clients throughout the U.S., weighs in on proposed legislation regarding Net Metering and Solar Power awaiting passage in the MA House and Senate by July 31st.

“Due largely to the state’s policies providing net metering (credits for returning excess generation to the grid) and Solar Renewable Energy Credits, renewable energy projects — solar projects in particular — have enjoyed exceptional growth in Massachusetts,” said Steve Rodman, president of Rodman & Rodman, P.C. “These programs, along with federal incentives in the form of 1603 grants and Investment Tax Credits have allowed solar projects to confidently project a reasonable return on investment, which in turn has attracted investment and financing. However, solar capacity qualifying for net metering facilities benefiting cities, towns and other public entities has quickly approached the 3 percent cap allocated to each of the state’s electric utility service areas, and the lingering debate about when and how much to raise the caps has become a serious threat to financing future projects.”

Under the current net metering regulations, qualified solar energy generation sites can use excess capacity to create credits against both the cost of electricity and service. “While solar advocates want to significantly increase net metering caps to encourage financing and development, utilities and some industry advocates argue that a large increase in qualified net metering solar shifts the cost of grid infrastructure and other utility expenses away from the direct beneficiaries of solar projects to the rest of utility rate payers,” explained Rodman. “There are strong feelings from some Massachusetts industry advocate groups that also take this position.”

A viable compromise may come in the form of a new Massachusetts bill (H4185), currently awaiting passage in the MA House and Senate. Under the new legislation, net metering caps for solar projects in the Commonwealth would be permanently removed in exchange for a minimum monthly bill, the elimination of Solar Renewable Energy Credits, and the ability for utilities to adjust rates for power received from Virtual Net Metering sources (solar power deployments that share net metering credits with other consumers such as a landlord who owns a solar array and shares the benefits with tenants). In addition, the bill would provide for a “Declining Block Program” of incentive rates that would assign new generation coming online to a specific block value of dollars per kWh over a 15-year period that would decline as new capacity comes online. The block value rates bundle both electricity metering credits and incentive rates for renewable energy.

Some industry groups, such as the Associated Industries of Massachusetts still strongly oppose the legislation as an unfair redistribution of ratepayer tariffs. Even some Massachusetts solar groups are in opposition because they feel that the new legislation replaces a more free-market system that was working well with one that is untested and much more in the control of utilities and regulators. At the same time, The Solar Energy Industry Association and the New England Clean Energy Council strongly support the bill as a reasonable compromise to break the current stalemate on net metering caps, create long-term certainty to reduce risks and encourage continued investment in solar, and meet the commonwealth’s goal of 1,600 MW of solar energy by 2020.

“We support the new legislation and believe strong growth of solar energy in the commonwealth will pay big dividends to all rate payers in the long term while allowing utilities a reasonable path to recover some of the cost of our growing grid infrastructure and service requirements. We also feel that while distributed solar generation may add some expense in the short term, it will add clean generation capacity, reduce transmission congestion, reduce demand for added fossil fuel generation, reduce the need for added pipe and wire infrastructure, ultimately increasing the overall performance of the grid. We also think that thousands of jobs, a growing tax base, and cleaner air are not bad benefits either,” said Rodman.

 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. For three consecutive years, Rodman & Rodman has been named one of the “Best Accounting Firms to Work For” in Accounting Today. 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. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman Supports “Act Relative to Net Metering and Solar Power”Read More

Rodman & Rodman Kicks Off New LinkedIn® Group to Aid Cleantech Entrepreneurs with Energy Accounting

Rodman & Rodman CPAs “Green Team” has announced that it has started a new LinkedIn® Group, entitled “Green Energy Accounting & Tax Strategies.”

The new LinkedIn group is intended to provide small to midsize renewable energy and cleantech (e.g. solar, wind, biogas, biomass, geothermal, energy efficiency) companies and entrepreneurs with a networking forum for discussions and guidance on relevant tax issues, best accounting practices, QuickBooks and other accounting software tips, and company/partnership financial structuring to optimize success and achieve financial goals.

“The survival of many green energy and cleantech companies can depend on understanding new and proposed energy tax laws, subsidies and grants,” said Steve Rodman, president of CPA firm Rodman & Rodman, P.C. “A green energy company has to be structured properly to take advantage of the optimal allocations of income and deductions. Even something as simple as setting up an entity’s accounting systems can be crucial to qualify for financing or for investment tax credits against future income.”

The Rodman & Rodman “Green Team” is a specialty accounting practice dedicated to providing alternative energy producers, and other businesses that pursue energy efficiency initiatives, with expert counsel and services in green energy tax accounting and business strategy. The team consists of experienced CPAs who are domain experts in alternative energy accounting and finances.

“We invite green energy and cleantech stakeholders to join the group and participate in productive discussions that will contribute to the success this growing industry,” said Rodman.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. 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’s Kathy Parker Named Recipient of the MSCPA’s Women to Watch Awards

Kathy Parker, CPA, MST, Partner at Rodman & Rodman, P.C., an independent accounting and tax firm with offices in Newton and Braintree, has been named a recipient of the Massachusetts Society of CPAs’ (MSCPA) 5th Annual Women to Watch Awards.

Ms. Parker was selected as an “Emerging Leader” based on her distinctive leadership qualities and her contributions to the profession and her community.

Ms. Parker has been employed with Rodman & Rodman P.C. for 14 years and has risen through the ranks from accountant to senior accountant to Partner. She holds a Bachelor’s degree in Accounting from the University of Texas at Austin and a Master’s degree in Taxation from Bentley University in Waltham. In addition to assisting clients with their tax and financial needs, Ms. Parker is a Certified Advanced ProAdvisor for QuickBooks as well as an integral part of Rodman & Rodman’s Green Team, the firm’s specialty practice in renewable energy and clean technology

She is on the Board of Directors for Invest In Girls, Inc. of Boston and is a resident of Billerica.

Ms. Parker will be honored along with five other Women to Watch Award recipients at the Women’s Leadership Summit on November 7, 2013 at the Westin Hotel in Waltham.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. 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’s Kathy Parker Named Recipient of the MSCPA’s Women to Watch AwardsRead More

Rodman & Rodman P.C. Promotes Scott Callahan, CPA to Tax Manager

Scott Callahan CPA
Scott Callahan CPA
Rodman & Rodman, P.C. an independent accounting and tax firm with a specialty practice in clean technology and renewable energy, has recently promoted Scott Callahan, CPA to Tax Manager.

Mr. Callahan has more than a decade of experience and he previously held the position of Tax Accountant at Rodman & Rodman. In his expanded role, Mr. Callahan will advise small and large clients on a broad range of tax issues. He will also serve on Rodman & Rodman’s Green Team, and work with clients on projects promoting renewable and sustainable energy.

Mr. Callahan holds a Bachelor’s degree from the University of Massachusetts and is a Certified Public Accountant. He resides in Millis, MA.

For the third consecutive year, Rodman & Rodman was named one of the 100 “Best Accounting Firms to Work For” in Accounting Today.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman P.C. Promotes Scott Callahan, CPA to Tax ManagerRead More

Dawn Patterson, CPA Promoted to Audit Manager at Rodman & Rodman P.C.

Dawn Patterson CPA
Dawn Patterson CPA
Rodman & Rodman, P.C., an independent accounting and tax firm with a specialty practice in clean technology and renewable energy, has recently promoted Dawn Patterson, CPA to Audit Manager.

In her new role as Audit Manager, Ms. Patterson will oversee a variety of compliance matters for both profit and non-profit client organizations. She will also provide tax planning and other accounting services to businesses and continue to position them for growth. Ms. Patterson has been part of the Rodman & Rodman team for 11 years and previously held the position of auditor.

Ms. Patterson holds Bachelor of Science and Master of Science in Accounting degrees from Bryant College in Smithfield, Rhode Island. She is a Certified Public Accountant.

She is a native of New Jersey and resides in Methuen, MA.

For the third consecutive year, Rodman & Rodman was named one of the 100 “Best Accounting Firms to Work For” in Accounting Today.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Dawn Patterson, CPA Promoted to Audit Manager at Rodman & Rodman P.C.Read More

Rodman & Rodman’s John McGovern Cites Key Role for CPAs at Bank of America SBA 504 Loan Seminar

John McGovern, CPA, ABV, CVA

John McGovern, CPA, ABV, CVA and partner at Rodman & Rodman, P.C., an independent accounting and tax firm catering to small and medium sized businesses throughout New England, shared his vast knowledge at Bank of America’s recent SBA 504 Loan Seminar held at Eastern Nazarene College in Quincy.

During the two-hour seminar, McGovern discussed the key role of the CPA in SBA 504 loans, as it relates to the depth of and the type of financial, due diligence, and personal information applicants need when applying for the loan.

McGovern reviewed the critical areas in which loan applicants can benefit from a CPA’s expertise, which included the business plan, due diligence, SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis, determining type of business entity, tax benefits and deductions, a cost segregation study, tax increment financing and financial statement terminology.

“This was an in-depth, hard-hitting seminar meant to address many of the questions asked by clients when they are considering obtaining an SBA 504 loan. Essentially, a CPA can identify, organize and provide the necessary documentation which helps to ensure that those seeking this type of additional financing, obtain it,” noted McGovern.

McGovern plays a key role in Rodman & Rodman’s audit, accounting and tax engagements, with a particular emphasis in pass-through entities such as S Corporations and Limited Liability Companies. He has over 28 years of experience in valuing privately held businesses in a number of different industries, is Accredited in Business Valuation (ABV) and a Certified Valuation Analyst (CVA) as well as a CPA.

At the seminar, McGovern was joined by fellow experts Lisa Alberti of Bank of America, Bruce Miller of Pierce Atwood, LLP and Laurie Driscoll of SEED Corporation.

“The Bank of America SBA 504 Seminar was well-received and we’re planning to hold a second seminar in the near future,” noted McGovern.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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Crucial Bill in Massachusetts Would Guarantee Purchase of All SRECs

Rodman & Rodman, P.C., providers of specialized green energy and clean technology accounting and tax services, recently spent the day at the Massachusetts State House participating in “Massachusetts Clean Energy Day.” The Representatives and government officials that Rodman & Rodman’s Green Team met at the conference all encouraged an open dialogue between government and Massachusetts business owners in renewable energy and cleantech, an industry that continues to thrive and create jobs in the Commonwealth.

An example of upcoming legislation where renewable energy and cleantech business owners can help by sharing an opinion is House Bill No. 2915. Rodman & Rodman explained that this bill was introduced in January 2013 by a group of four state representatives led by Representative Thomas J. Calter from Plymouth. The bill, if passed, would require utility companies to purchase any SRECs remaining after the close of the SREC auction each year. A utility’s purchase obligation would be determined by the utility’s percentage share of the prior year’s renewable energy portfolio standard compliance obligation. All SRECs would be purchased at the fixed floor price of the auction.

Bill 2915 would help to guarantee a source of income for solar projects. As it stands now, any SRECs not sold in the auction would carry forward to the next year to be auctioned again. As projects are trying to secure financing to begin construction, the ability to show a guaranteed inflow of cash is becoming more and more crucial. By requiring the utilities to buy up all unsold SRECs at the end of the auction, the project is guaranteed to receive at least the auction floor price on the SRECs it produces.

“At present, many projects are selling their SRECs at prices below the auction floor, taking a lower sales price to guarantee a buyer. With the large number of SRECs being produced, buyers can get away with low purchase offers,” explained Steve Rodman, CPA MST, president of Rodman & Rodman.

He continued, “By requiring utilities to purchase the leftover SRECs at the end of the auction, there may be an incentive to hold off on selling SRECs prior to the auction. Since all SRECs will be required to be purchased, perhaps more will be entered into the auction and project owners may be able to demand a higher price for their SRECs from third party purchasers prior to the auction. Perhaps most importantly, the Calter bill would help clear the market and thereby help the distribution companies, competitive suppliers and ratepayers avoid high SREC costs and SACP obligations in the program’s middle years.”

Bill 2915 is currently in the House for consideration. Those who believe this bill would benefit their project or business are encouraged by Rodman & Rodman to contact their representatives and let them know.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. 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 “Green Team” pledges continued Accounting Support and Services to Association of Cleantech Incubators of New England

The Association of Cleantech Incubators of New England (ACTION), has announced that sponsor company and affiliate member, Rodman & Rodman, P.C., will continue to provide ACTION with specialized cleantech industry financial guidance and accounting services. ACTION is New England’s leading network of cleantech incubators. Both ACTION and Rodman & Rodman support the common goal of accelerating the growth and success of early-stage companies.

Rodman & Rodman’s “Green Team” was recently recognized as the ‘Go To’ Alternative Energy CPA Practice by Accounting Today Magazine.

“With lead support from Scott Callahan, CPA, Rodman & Rodman has provided ACTION with invaluable tax advisory and accounting services as we continue to grow our membership and participate in both private and public funded activities,” said ACTION President, Michael Ryan. “We are pleased that we will continue to receive support from this superb CPA firm for the foreseeable future.”

About ACTION

The Association of Cleantech Incubators of New England (ACTION) is New England’s leading network of cleantech incubators sharing the common goals of accelerating the growth and success of early-stage companies, strengthening the regional cleantech cluster, and creating more green jobs in New England.

Our network of incubators provides diverse resources and a highly- supportive hub in which entrepreneurs, business leaders, government agencies, community leaders, investors, universities, and other interested organizations can collaborate toward the successful commercialization of enterprises that will build a prosperous green economy, improve the quality of our lives and sustain the health of our environment. Visit www.actionnewengland.org

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman “Green Team” pledges continued Accounting Support and Services to Association of Cleantech Incubators of New EnglandRead More

Rodman & Rodman P.C. Experiences Rapid Growth, Adds Staff

Jennifer Murphy
Rodman & Rodman, P.C., an independent accounting and tax firm with a specialty practice in clean technology and renewable energy, has expanded their accounting team to accommodate their rapidly growing practice.

Five new accountants have joined the Rodman & Rodman team:

Jennifer Murphy, a resident of Stoneham, has been appointed as an Accountant. Ms. Murphy has more than 15 years of experience in both private and public accounting. She is a certified QuickBooks ProAdvisor and is a tremendous resource for companies using this software. Ms. Murphy holds a Bachelor of Science in Accounting and Finance from St. Anselm College in Manchester, NH.

Nancy Kozak, a resident of Hopkinton, has been appointed as an Accountant. Ms. Kozak brings many years of accounting and small business experience to the Rodman team, as she previously owned and operated a professional bookkeeping business in the greater Boston area. She holds a Bachelor of Science degree in Business Administration from Bryant College in Smithfield, RI.

Kate Doherty, a resident of Bridgewater, has been appointed as Staff Accountant. Ms. Doherty holds a Bachelor of Science in Accounting from Salve Regina University in Newport, RI and will soon receive a Master’s in Business Administration. She will pursue CPA certification shortly afterwards.

Robert Savidge, a resident of South Boston, has been appointed as Staff Accountant. Mr. Savidge is a graduate of Suffolk University, earning a degree in Accounting with a minor in Management. He is in the process of pursuing his MBA and his CPA certification.

Elysha Sturm, a resident of Foxboro, has been appointed as Staff Accountant. She holds a Bachelor of Science in Accounting from Suffolk University. Currently she is in the process of pursuing a Master’s degree in Taxation and CPA certification.

Two additional Tax Accountants, Tony Perrotta, CPA, MST and Vipul Shah, MBA, MST have joined Rodman & Rodman for tax season ensuring that the practice continues to provide the highest level of service to clients. Tony Perrotta, CPA, MST has a lengthy career in public accounting. He is a graduate of Northeastern University and Bentley University’s McCallum Graduate School of Business where he received his Master of Science in Taxation. He is a member of the business honor society, Beta Gamma Sigma. Vipul Shah, MBA, MST is a resident of Waltham and has 12 years of accounting and tax experience in the Boston area. Mr. Shah holds a Master of Science in Taxation/Accounting from Northeastern University and a Master of Business Administration in International Business from Johnson & Wales University in Providence, RI.

Rodman & Rodman has been named #20 out of 100 “Best Accounting Firms to Work For” in 2012 in Accounting Today. This is the third consecutive year that Rodman & Rodman has been named one of the “Best Accounting Firms to Work For”.

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. 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 has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman P.C. Experiences Rapid Growth, Adds StaffRead More