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LITIGATION SUPPORT

Jeffrey Urbach to Testify on NJ Collaborative Law Act

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Jeffrey Urbach has been chosen by the NJ Councl of Collaborative Law Practice Groups to testify at a hearing on the Uniform Collaborative Law Act. The hearing, being held by the NJ Law Revision Commission, will take place on Thursday, February 21. He will testify regarding the role of the Financial Neutral, as well as discuss how financial Discovery is handled in a Collaborative Divorce setting. Jeff is permanent seat holder on the Council, and co-founder and Treasurer of the Mid-Jersey Collaborative Law Alliance.

Jeff has over 100 hours of formal mediation training and is on the NJ Roster of qualified economic mediators. His areas of specialty include business valuation, gifting/retirement planning, and healthcare practices (financial management, benchmarking, and valuation of practice). 

 

 

Pamela Avraham Quoted in Sunday Star Ledger

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The Newark Star Ledger recently turned to Pamela Avraham of Urbach and Avraham, CPAs for her take on the effects of the 2012 FUTA increase for NJ employers . This FUTA increase is now payable in Jan. 2013 and came as a surprise to many employers. Pamela was quoted in the January 20, 2013 edition, describing the challenge that many staffing agencies face due to the increase. Urbach & Avraham is especially attuned to concerns regarding the FUTA increase, as we service many staffing agencies and small businesses. These firms are going to be impacted more significantly, as they tend to have a larger number of low wage employees.

NJ Issues Technical Bulletin on Sales and Use Tax for Attorneys

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On January 15, 2013, the NJ Division of Taxation issued a technical bulletin on the taxability of purchases made by lawyers and law firms.  Lawyers who practice in New Jersey are not liable for collecting sales tax on charges for professional services performed by their practice. They are, however, required to pay sales or use tax on all purchases of taxable tangible property, specified digital products, and certain services used by their firm, unless otherwise exempted by law. Purchases subject to sales and use tax that are common to law firms include: [Read more…] about NJ Issues Technical Bulletin on Sales and Use Tax for Attorneys

Limit on Mortgage Interest Deduction for Married Filing Separate

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In an interesting 2012 Tax Court case, Bronstein vs. Commissioner, the strict interpretation of the Section 163 limitation on the mortgage interest deduction for married taxpayers filing separately was brought into question.   Faina Bronstein and her husband purchased a $1.3 million home in 2007, taking out a $1 million mortgage. The home was their primary residence. The Bronsteins chose the option of “married filing separate” that year, and Faina deducted all of the mortgage interest paid (which amounted to $50,000). The IRS, using a plain interpretation of the statute, disallowed half of Faina’s deduction. Section 163, the statute governing the $1,000,000 limitation provides that: [Read more…] about Limit on Mortgage Interest Deduction for Married Filing Separate

Pamela Avraham Achieves Fraud Examiner Certification

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Congratulations to Partner Pamela Avraham on her well-deserved certification as a Certified Fraud Examiner (CFE). It comes as no surprise that Pamela passed all four sections of the CFE exam on the first sitting, as she has used her forensic skills in preventing and detecting fraud for over 25 years. Clients who have gained from her expertise are from a wide range of industries, including medical and health care practices and staffing agencies.

Pamela has also applied her forensic accounting abilities in the reconstruction of books and records for fiduciaries, and has frequently prepared court accountings for executors, trustees and guardians. Her unique expertise and experience is reflected in the outstanding success of the U&A forensic team.