Month: June 2026

Are You Ready for Kick-off? Tips For NY and NJ Breweries and Distilleries Ahead of the 2026 World Cup

This summer, one of the world’s largest sporting events will be arriving on our doorstep, bringing massive crowds to the New York-New Jersey area. The 2026 World Cup will take place across three North American countries from June 11 to July 19, with eight matches—including the final—held at New Jersey’s MetLife Stadium (temporarily branded as New York New Jersey Stadium). The broader New York–New Jersey region is expected to welcome more than 1.2 million visitors, generating an estimated $3.3 billion in economic activity in the area. For breweries and distilleries, this is more than just a spike in foot traffic. The tournament presents a rare opportunity for local businesses to increase sales, expand brand visibility, and connect with new customers. The question is, are you ready to make the most of it? Here are some tips to help you capitalize on the most anticipated regional event of the summer.

Prep Operations and Ramp Up Promotional Activities

You may want to consider stocking up on inventory, extending your operating hours, and/or hiring additional seasonal staff in anticipation of increased regional activity. Hosting watch parties or other World Cup-themed events is one way to attract both visiting fans and locals. Think about offering World Cup-themed menu items, limited-edition beverage flavors, discounts, or giveaways to appeal to fans’ tournament spirit.

Explore Available Resources

Check out the FIFA World Cup 2026^TM New York New Jersey Host Committee Community Engagement Toolkit, a comprehensive guide for local businesses and organizations to leverage the economic opportunities provided by the tournament. You can also subscribe to the NYNJ Host Committee newsletter for updates and opportunities. Additional helpful information can be found in the NYC Small Business Resource Guide for FIFA World Cup 2026™ and the NJ Diverse Business Advisory Council’s World Cup 2026 Reference Guide.

Join The Welcome World Rewards Program

The Welcome World Rewards Program, which launches May 25, is a region-wide economic initiative designed to connect fans of the World Cup with local small businesses through a free mobile app. The purpose of the program is to encourage economic activity throughout communities in New York and New Jersey while providing visitors with an authentic regional experience. The app (which is free for both fans and businesses) allows users to check in with local businesses and earn rewards. The program will even offer the opportunity for up to eight fans to attend the World Cup matches (including the final match) as guests of the NYNJ Host Committee. Businesses can sign up to join here. Enrollment is open on a rolling basis from April 1 through May 15, 2026.

Don’t Drop the Ball This Summer

Major events like the World Cup don’t come around often. This summer, breweries and distilleries in the NY–NJ region have a unique opportunity to expand their reach and visibility on an international stage. Early preparation and strategic marketing will be key to making the most of this heightened exposure. While you focus on preparing for the World Cup, let RBT CPAs take care of your business’s accounting, tax, audit, and advisory needs. Call us today and find out how we can be Remarkably Better Together.

Mandatory Fiscal Oversight Training for Board Members

Within their first year of service, every member of the board of education is required to partake in a minimum of six hours of training in financial responsibilities and oversight. But what exactly is covered in this training, and why is it so important for board members to participate? Let’s talk about it.

Overview of Requirements

Section 2102-a of the New York State Education Law requires board members within the first year of their term to complete at least six hours of mandatory training on financial oversight, accountability, and fiduciary responsibilities of board members. This requirement applies to all appointed or elected board of education members and BOCES board members. Even board members who are certified public accountants with experience auditing school districts are required to participate.

All training curricula and providers must be approved by the Commissioner of Education. Acceptable courses include those offered by the State Education Department, the Office of the State Comptroller, and organizations or individuals that have been approved by the Commissioner of Education. Trainings are offered in person, in live virtual format, or online. After completing training, board members must file a certificate of completion with the district clerk. Board members are only required to complete this training once, regardless of terms served.

Why Is This Training Necessary?

The purpose of this mandated training is to ensure board members are aware of their legal and fiscal responsibilities, as well as to equip them with the expertise needed to provide financial oversight, manage district funds, and improve student outcomes.

What Does the Training Cover?

Topics covered by these courses include the following:

The roles and responsibilities of district officials, including internal auditors, treasurers, and members of the audit committee
Financial reports
Relevant laws and regulations
Internal controls and risk assessments
Revenue sources and the budget process
Internal and external audits
Monitoring school district financial condition
Key financial management and accounting practices such as cash flow projections and budget transfers
Preventing and responding to fraud, waste, and abuse of district resources
Indicators of a financially stressed district

The Importance of Fiscal Oversight Training

Training in these core areas provides board members with an understanding of key financial concepts, their fiduciary responsibilities, and how to manage public funds. While not required, it is recommended that board members periodically re-take courses to stay up to date with changing regulations. Participating in these trainings is just one step to ensure the financial health of your school district. Another way to keep your district fiscally sound is by partnering with RBT CPAs’ education accounting team. Our experts are familiar with the unique financial challenges facing public school districts and are well-equipped to support your district’s accounting, tax, audit, and advisory needs. Give RBT CPAs a call today and find out how we can be Remarkably Better Together.

When Should You Consider Setting Up a Real Estate Holding Company?

What Is a Real Estate Holding Company?

A real estate holding company is a legal entity, typically an LLC or partnership, created to own and manage real estate investments. In many cases, the holding company owns separate LLCs that each hold individual properties. This structure allows investors to centralize ownership, simplify management, and create layers of liability protection between properties and personal assets. Real estate holding companies are commonly used by investors who are building long-term portfolios, acquiring multiple properties, or planning for future growth and succession.

When Is the Right Time to Establish a Real Estate Holding Company?

A real estate holding company can be one of the most valuable tools for investors looking to grow and protect a real estate portfolio, but many investors struggle with knowing when the right time is to establish one. While there is no universal answer, the decision often comes down to a combination of liability protection, portfolio growth, operational efficiency, and tax planning opportunities.

Transitioning From Investor to Business Owner

For many investors, the right time to establish a holding company is when real estate transitions from a side investment into a long-term wealth-building strategy. A single rental property with limited equity may not justify the costs and administrative burden of multiple entities. However, once an investor acquires multiple properties, accumulates significant equity, or begins generating meaningful rental income, the benefits of a structured holding company arrangement become much more attractive.

Liability Protection and Risk Management

One of the primary non-tax reasons for a holding company is liability protection. Separating properties into different LLCs owned by a parent holding company can help isolate risk. If one property is involved in litigation, the assets of the other properties may remain protected. This structure is especially important for investors with higher-risk properties, multiple tenants, or growing net worth.

Understanding the Tax Benefits

From a tax perspective, many investors incorrectly assume that simply forming a holding company creates automatic tax savings. In reality, the entity itself does not reduce taxes on its own. The true tax benefits come from how the structure is used as the portfolio grows.

A properly designed holding company structure can create flexibility for tax planning. Investors may be able to centralize management expenses, track deductible costs more efficiently, and separate operating activities from ownership activities. As the portfolio expands, this structure can also assist with grouping elections, passive activity planning, and long-term exit strategies.

Estate Planning and Generational Wealth

Holding companies can also create opportunities for estate and succession planning. Instead of transferring individual properties, ownership interests in the holding company can be gifted or transferred over time. This can simplify family wealth transfers and potentially provide valuation discount opportunities for gifting and estate tax purposes.

Preparing for Future Growth

Another important consideration is financing and future acquisitions. Investors who expect to continue purchasing real estate often benefit from creating the structure early. Waiting too long can create complications such as lender approvals, transfer taxes, title issues, or insurance concerns when properties are later transferred into entities.

When a Holding Company May Not Be Necessary

There are also situations where a holding company may not yet be necessary. An investor with one small rental property, little equity, and no plans for expansion may find that the legal and accounting costs outweigh the immediate benefits. In those cases, maintaining proper insurance coverage and basic liability protection may be sufficient until the portfolio grows.

Final Thoughts

Ultimately, the right time to establish a real estate holding company is usually when an investor begins thinking beyond a single property and starts viewing real estate as a long-term business and wealth strategy. Once there are multiple properties, meaningful equity, increasing liability exposure, or long-term family planning goals, the advantages of a holding company structure often outweigh the additional complexity and cost.

Partner with RBT for Real Estate Accounting Guidance

RBT CPAs’ real estate accounting team is here to advise and assist you in all of your accounting processes. From financial reporting and compliance to long-term tax strategy to succession planning, RBT CPAs is committed to supporting your unique accounting, tax, audit, and advisory needs. Contact us today and find out how we can be Remarkably Better Together.