Thought Leadership Articles

Best practices for developing municipal and county fund balance policy and plans in New York

July 31, 2020

Developing and implementing sound municipal fund balance policy is crucial to any local government’s ability to plan for the ebb and flow of expenditures and revenue and to deal with unexpected events or expenses, even in the best of times. A policy that sets out the amount of funds a

Municipal retirement incentives for employees in New York: What your local government needs to know

July 16, 2020

Municipal retirement incentives can be a solid strategy for a local government that seeks to generate revenues and cut expenses, but using this option requires research and planning to determine if it is right solution for financial circumstances. Municipal retirement and separation incentives are making the news as county executives

Municipalities Can Build Financial Resilience in the COVID-19 Era and Beyond

July 2, 2020

The COVID-19 pandemic and the accompanying shutdown have brought financial challenges to municipal governments throughout New York State. Sales tax revenues declined steeply across the state in April and May compared to 2019, and state aid will be cut or delayed. Unemployment rates may affect residents’ ability to pay property

It Pays to Hire Vets

November 29, 2018

As Veterans Day 2018 concludes, I am reminded that it has been fifteen long years since the US led coalition crossed over the Kuwaiti border, marched, rode and flew into Iraq to begin extended military operations in the Middle East. This campaign has produced nearly a generation of war-time Veterans,

Mike Turturro: Don’t Kid Around about Kiddie Tax Changes

November 29, 2018

As a taxpayer, if you have a child or young adult living in your home for more than half a year who does not provide for more than half of their own support, does not file a tax return jointly, and one or both parents are alive, taxpayers are accustomed

Doing Business In Other States Just got more Complicated…

October 9, 2018

On June 21, 2018, the U.S. Supreme Court issued its decision in South Dakota v. Wayfair, Inc., et al, the highly anticipated challenge to the sales tax physical presence standard adopted through Quill v. North Dakota in 1992. Accordingly, the Court has overruled the Quill physical presence standard allowing states

New Accounting Rules Effect the Entire Company

June 27, 2018

Last year, Uber reported revenue numbers that dropped to half of their usual profits. Retailers like Amazon, Starbucks, and Wal-Mart expect a rise in revenue numbers by hundreds of millions of dollars. While many different factors affect revenue numbers, the single reason for these swings are new accounting rules. If

Is An Employee Stock Ownership Plan Right For My Company?

June 27, 2018

An Employee Stock Ownership Plan, or ESOP, is a qualified defined contribution employee benefit plan authorized under the Employee Retirement Income Security Act (ERISA). An ESOP is similar to a profit-sharing plan, but a key difference is that the ESOP invests primarily in the stock of the sponsoring employer. It