Christopher Kelly, CPA, is an accounting and audit partner at Anchin, Block & Anchin LLP and a member of the Firm’s Construction Industry Group. Chris has more than 14 years of experience advising clients on complex audit and tax matters as well as accounting systems and other financial matters.
With an extensive background in both individual and corporate tax matters for closely held businesses, Chris works with his clients to ensure their tax strategies align with the business's short and long term goals. His expertise extends beyond traditional compliance services, allowing him to counsel clients not only on tax matters, but on ways in which to improve their business model and increase efficiencies in both management and operations.
Chris is a native of the Philadelphia area and a graduate of York College of Pennsylvania. Chris began his career at a regional firm in the Philadelphia area before joining Anchin in 2003. He is a member of the American Institute of Certified Public Accountants (AICPA), the Associated General Contractors of America (AGC), the Construction Finance Management Association (CFMA), and the Westchester County Association (WCA). Chris is also the President of the New York City Surety Association in 2020.
- Accounting and Auditing
- Manufacturing and Distribution
- Real Estate
- What A/E/C Firms Need to Remember About the CARES ActAugust 31, 2020
At this point, so much has happened this year that the CARES Act may seem like old news, yet its tax provisions remain in effect and, in some cases, beyond 2020 (unless subsequent legislation changes them). Careful planning may allow architecture, engineering and construction (A/E/C) firms to fully benefit from the wide and varying tax relief offered.
- An Overlooked Tax Benefit for Construction Firms: Business Interest Limitation ChangesMay 13, 2020
The Tax Cuts and Jobs Act (TCJA) of 2017 was generally a taxpayer-friendly legislation for the business community. However, there were several provisions in that Act that were implemented as revenue raisers to partially offset the cost of those tax breaks. One of those revenue raising provisions was the business interest expense limitation. This limitation can potentially impact construction companies of all entity types. The recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act modified and increased the existing 30% business interest limitation to 50% for the years beginning with 2019 and 2020. For partnerships, this will not apply to years beginning with 2019, but only for 2020.