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Rodman & Rodman

“5 Ways for Business Owners to Save Taxes in 2010” Seminar on December 1st in Newton

It has been a tough year for many business owners. Rodman & Rodman, P.C., Certified Public Accountants and Business Strategists will offer a complimentary “5 Ways for Business Owners to Save Taxes in 2010” Seminar on Tuesday, December 1st, from 7:30 a.m.- 9:30 a.m. at their Newton office located at 3 Newton Executive Park.

With the new administration in Washington, D.C., a number of tax changes have come about which bring both opportunity and challenge. Tom Astore, Tax Director at Rodman & Rodman, P.C. will provide business owners with five can’t-miss strategies for 2010.

A tax question and answer session will follow, so be prepared to take advantage of the latest tax laws. Topics to be covered include:

  • Future tax rates, ordinary and capital gains
  • 2010 IRA to Roth conversions
  • Business and individual energy tax incentives
  • A complete update on 2009 tax legislation and potential legislation that may impact 2010 and beyond
  • The future of the Estate Tax and gifting

There is no cost to attend.  This program is provided as an educational opportunity.

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

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“How Much is Your Business Worth” Seminars in Braintree and Newton, co-sponsored by PR Works

Rodman & Rodman, P.C., Certified Public Accountants and Business Strategists, will hold a seminar in September geared towards entrepreneurs, family-owned businesses and small ownership groups entitled “How Much is Your Business Worth”.

The seminar will be held on the following dates from 7:30 a.m. to 9:30 a.m.:

· Tuesday, September 15th at Rodman & Rodman offices located at 3 Newton Executive Park in Newton

· Tuesday, September 22nd at Rodman & Rodman offices located at 25 Braintree Hill Office Park in Braintree

Light refreshments will be served.

The seminar will cover:

· How businesses are valued.

· Why businesses are valued that way.

· Rules of thumb.

· The types of buyers that are out there.

· Why goodwill is important.

· The only way the actual value of your business can be determined.

These seminars will be led by John McGovern, CPA, ABV, CVA, Partner at Rodman & Rodman. McGovern performs business valuations for small and medium-sized businesses and will provide attendees a good understanding of the basics of business valuation. He will also answer questions that business owners may have about valuation principles specific to their industry or their unique situation.

“These seminars are ideal for anyone who is considering restructuring, selling or transferring ownership in their business. Understanding the principles will help business owners manage their business better and manage their financial future with greater certainty. This is the first in a series of seminars that we think business owners will find extremely beneficial,” explained McGovern.

To register for a seminar, contact Jen Minor at Rodman & Rodman at (617) 965-5959 or email jen@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.

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Rodman & Rodman CPA to Hold “How Much is Your Business Worth” Seminars in Braintree and Newton

Rodman & Rodman, P.C., Certified Public Accountants and Business Strategists, will hold a seminar in September geared towards entrepreneurs, family-owned businesses and small ownership groups entitled “How Much is Your Business Worth”.

The seminar will be held on the following dates from 7:30 a.m. to 9:30 a.m.:

· Tuesday, September 15th at Rodman & Rodman offices located at 3 Newton Executive Park in Newton

· Tuesday, September 22nd at Rodman & Rodman offices located at 25 Braintree Hill Office Park in Braintree

Light refreshments will be served.

The seminar will cover:

· How businesses are valued.

· Why businesses are valued that way.

· Rules of thumb.

· The types of buyers that are out there.

· Why goodwill is important.

· The only way the actual value of your business can be determined.

These seminars will be led by John McGovern, CPA, ABV, CVA, Partner at Rodman & Rodman. McGovern performs business valuations for small and medium-sized businesses and will provide attendees a good understanding of the basics of business valuation. He will also answer questions that business owners may have about valuation principles specific to their industry or their unique situation.

“These seminars are ideal for anyone who is considering restructuring, selling or transferring ownership in their business. Understanding the principles will help business owners manage their business better and manage their financial future with greater certainty. This is the first in a series of seminars that we think business owners will find extremely beneficial,” explained McGovern.

To register for a seminar, contact Jen Minor at Rodman & Rodman at (617) 965-5959 or email jen@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.

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Rodman & Rodman, P.C. Outline New COBRA Provisions for Businesses

Rodman & Rodman, P.C. Certified Public Accountants and Business Strategists, have outlined new COBRA provisions that were included in the American Recovery and Reinvestment Act of 2009 (ARRA) to help businesses throughout New England understand the new provisions.

“The IRS recently issued additional guidance relating to the COBRA provisions adopted in the ARRA. In general, the new provisions provide a 65 percent subsidy for COBRA continuation premiums for up to nine months for workers who have been involuntarily terminated, and their families,” according to Tom Astore, CPA, JD, Tax Manager at Rodman & Rodman (http://www.rodmancpa.com)

Astore noted that these rules apply to group health plans that are subject to the Federal COBRA continuation coverage requirements or to similar requirements under State law.

So, if a company has such a plan, and receives a 35 percent payment from someone eligible for the subsidy, it must make the remaining 65 percent premium payment. However, the company is not “out of pocket” for this cost because they can claim a payroll tax credit to offset this subsidy.


In order to qualify for premium assistance, a worker must:


·       Be “involuntarily terminated” between Sept.1, 2008 and Dec. 31, 2009;
·       Be eligible for COBRA coverage; and
·       Elect such coverage.


The period of coverage ends on 12/31/2009 or on the date the terminated worker becomes eligible for coverage under any other group health plan or for Medicare benefits – whichever comes first. Companies must notify terminated workers of their right to a COBRA continuation coverage subsidy.

The subsidy is not taxable when received, but higher income recipients, such as those with modified adjusted gross income above $125,000 ($250,000 for joint filers) will have to pay back part or all of it at tax return time.


In most cases, an employer will be reimbursed for the subsidy by way of a federal payroll tax credit.

“As you can tell, these rules are complex. Employers can claim the payroll credit, but should consult their accountant on how to properly do so. Special rules will also apply; one example of this is if the employer includes health premiums as part of a severance package. Be sure to consult a professional for guidance,” noted Astore.

For more information about COBRA provisions in ARRA, contact Rodman & Rodman, P.C. at (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 rodmancpa.com or contact (617) 965-5959.

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Rodman & Rodman, P.C. Honors Founder & Business Leader Herb Rodman

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Herbert E. Rodman, CPA, the founder of Rodman & Rodman, P.C. Certified Public Accountants and Business Strategists of Newton, Mass., and a well-known business leader, recently passed away.

Over the years, Mr. Rodman, who was a longstanding member of the Mass Society of CPAs and the American Institute of CPAs, witnessed many changes in the industry – from the early days of pencil and ledger to today’s online tax filing.

For more than 40 years, Mr. Rodman, a graduate of Boston University, worked as a CPA and helped many businesses in the New England area prosper. He founded the company in 1961 and for a number of years, Mr. Rodman ran the company by himself from his Boston office. Many of his clients were small, family-owned businesses. Mr. Rodman’s personality lent itself to small business. He was patient and liked to get to know his clients; their motivation and their goals. He was also creative on the tax side and gave good advice.

A number of clients have been with Rodman & Rodman since Mr. Rodman’s early days including: Tom McCann of Commonwealth Films; Bob Mirabito of Mirabito Insurance; Jerry and Stu Kawadler of National Maintenance; Russ Anderson of Southeastern Metal; Ed and Jim Rapoport of Honorcraft; Warren Gomberg, Les Rudnick and the Spiliakos, Taylor, D’Attilio, Alepedis, Tenn, White, Voto, and Hughes families.

Today, Rodman & Rodman operates from offices in Newton and Braintree and has a staff of 20.  Despite the size of the company, the family tradition continues. Mr. Rodman’s son Steve Rodman, who has been the company’s president for several years, shares his father’s philosophy of getting to know their clients as well as their motivations and goals and the company continues to help small to mid sized businesses reach (and often exceed) their expectations.

Although Quickbooks and other accounting software programs didn’t exist years ago and things were done differently, in many ways, Rodman & Rodman has remained the same. They are still wholly dedicated to looking after clients’ best interests.

“All who knew Herb respected his professionalism, knowledge and abilities as a CPA. Most would also say that those were not even his most admirable traits.  Herb was a warm, caring person with a wonderful sense of humor and an engaging personality,” said John McGovern, CPA, ABV, CVA, a Partner at Rodman & Rodman. “Herb built a strong company based on solid principles that has continued to grow steadily over the years. We’re all proud to be a part of the Rodman & Rodman team.”

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 Jen Reading at (617) 965-5959.

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Rodman & Rodman, P.C. Advises Taxpayers of Federal Bailout’s Tax Provisions

On October 3, 2008, President Bush signed into law a number of tax provisions which were included among the laws passed related to the bailout and stabilization of the financial markets. Rodman & Rodman, P.C. Certified Public Accountants and Business Strategists catering to small and medium sized companies throughout New England, outlines these tax provisions for taxpayers.

A number of relief provisions have been implemented to prevent middle income taxpayers from falling prey to AMT. These include:

· AMT exemption amount increases to $69,950 for joint filers and $46,200 for single filers.

· Allowing taxpayers to offset various nonrefundable personal credits against AMT, including, the dependent care credit, child tax credit, and Hope and Lifetime Learning credit as well as other credits;

· For taxpayers who exercise incentive stock options, recognizing phantom income for AMT, there has been an extension and expansion of the limited relief.

With regard to charitable provisions:

· The provision allowing taxpayers aged 70 ½ to donate up to $100,000 to public charities from IRA or Roth IRA accounts without recognizing such amounts as taxable income has been extended through 2009.

Other notable provisions:

· Favorable changes have been made to the Alternative Simplified Credit and the Research and Development Credit has been extended through 2009.

· Favorable Depreciation 15 year write-off rules for qualified leasehold, restaurant and retail improvements are extended through 2008.

There are many extensions, modifications and new rules for popular energy credits including:

· The 30 percent Investment Tax Credit for solar energy property is extended through 2016

· The Credit for Residential Solar Property is also extended through 2016 with increased credit caps

· There is now a “Plug In” vehicle tax credit ranging from $2,500 to $7,500 (although the credit is phased out after the 250,000th plug in vehicle has been sold)

· The Energy Efficient Residential credit is extended through 2009 with some additional incentives

· The law allowing taxpayers to deduct certain costs of energy efficient property for commercial buildings is extended through 2013

· The Contractor Construction Energy credit allowing contractors a credit for the construction of energy efficient homes is extended through 2009.

Various revenue raisers have been imposed to offset the above tax incentives such as:

· Brokers are mandated to report to the IRS on transactions involving publicly traded securities, extending the FUTA surtax of .2 percent through 2010 as well as other provisions targeted to specific taxpayers such as energy and oil companies.

“We strongly urge taxpayers to consult with a tax professional if they have any questions about the new tax provisions,” explained Steven P. Rodman, CPA, MST, president of Rodman & Rodman, P.C.

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.

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