Cerini and Associates

Tax update 2018: ‘Cuts and Jobs Act’ will hit LI hard

By TIMOTHY McHALE // At first glance, the recently passed Tax Cuts and Jobs Act seems to hit Long Island – and all high-tax areas – pretty hard. One reason: Many businesses on Long Island are pass-through entities in the service sector, which do not qualify for the reduced corporate rate or the additional pass-through deductions. Pass-through entities, with the exception of service industries, are allowed a deduction (subject to limitations) that effectively taxes their…


No. 265: Santa snickers, the Manufacturing Task Force Awakens and the Golden Globes go to…

Gut Yontiff: “Good holiday,” for our non-Yiddish speaking readers, and a Happy Hanukkah to all. Adam Sandler’s “eight crazy nights” – the Jewish Festival of Lights commemorating the rededication of the Holy Temple in Jerusalem during the circa-160 B.C. Maccabean Revolt – commenced Tuesday evening. A big date for breakthroughs: The dry dock (1816), the ice cream cone (1903), the first fully automated photographic film developer (1928) and the fathometer (also 1928), which measures underwater…


TCJA: Too soon to panic (but not to start planning)

By TIMOTHY McHALE and ED McWILLIAMS // Finally, after months of fanfare and blueprints (and endless requests from our managing partner, Ken Cerini, to put out content on what a potential Republican tax plan would mean for our clients), the House Ways and Means Committee has released the Tax Cuts and Jobs Act. While previously released frameworks offered few details, the TCJA comes in at a robust 429 pages – worthy of a seismic shift…


254: A strong 4th quarter, a new STREAM center, members-only beer club and 71 Michelin stars

NOVEMBER ALREADY!?!: Yep, it’s Nov. 1, also known as All Saints Day – a national salute to all the professional parents who double-time it on Oct. 31 to meet deadlines, file reports, run staff meetings, connect with customers, complete inventories and otherwise TCB so they can rush home to take their kids trick-or-treating. We’d like to tell you to go ahead and kick off early today, but you kind of did that yesterday, didn’t you?…


Comprehensive guide offers solid, free tech-biz advice

A regional accounting giant is offering some solid – and absolutely free – business-building advice to early-stage tech firms. Bohemia accounting firm Cerini & Associates LLP has published “Business Insights: Technology Industry,” a comprehensive guide designed to steer startup (and older) technology companies in the right fiscal direction. Noting a “technology explosion” over the last 20 years, the 28-page guide offers step-by-step advice based on Cerini & Associates’ “decades of experience working with technology-based companies.”…


For managers, a primer on dealing with the dog days

By KEN CERINI // During the winter, when it’s cold and dark, people don’t mind being indoors and getting work done. But in the summer, when the weather and the sunshine are calling, how do you keep your employees motivated and focused? I don’t know about you, but during the summer, I don’t want to be cooped up behind a desk any more than my staff does. The goal is to find ways to balance…


Leadership lessons from the Seven Kingdoms

By KEN CERINI, CPA, and ETHAN DeABREU // Spoiler alert: If you haven’t seen Season 6 of HBO’s “Game of Thrones,” you may want to stop here. Eventually, Eddard Stark was bound to be correct. Winter is here. Everything is on the line. You have stared into the abyss, and you see that war and annihilation await. Who will lead you to an untimely demise? Who can lead you to salvation? You can ask the…


Productivity, in the age of telecommuting

By SHONA ST. ANGELO // Many companies across the country, such as Aetna and Dell, are allowing employees to work remotely. Employees save money normally spent on gas and transit costs, and save valuable hours normally spent commuting to an office. Telecommuting can also benefit employers, who can take advantage of savings from decreased occupancy costs and travel-expense reimbursements. Money saved can then be spent on customer acquisition and marketing, which will ultimately yield higher…


Fundraising innovation: Less risk in games of chance

By SEAN WILKINSON, CPA // Governor Andrew Cuomo proposes to remove the red tape restricting nonprofit organizations’ fundraising efforts through raffles and other games of chance. The FY2018 Executive Budget will update outdated bureaucratic laws that will increase the potential of charitable organizations searching for support. Organizations that depend on these revenue-generating streams will benefit tremendously in the years to come. For example, the American Legion, a veteran’s organization, currently raises money by selling pull-tabs,…