David S. Rubin
David Rubin, CPA, CGMA, is an accounting and audit director at Anchin with over 30 years of experience. He has become known for the high level of personal service and keen business insight that he brings to his clients. David has advised on a wide range of issues, including partnership agreements, succession planning, personal and business tax planning, and more. Clients continue to find him extremely responsive in his approach to satisfying their business needs.
David has developed particular expertise in professional service firms with the likes of physicians and attorneys, as well as the architecture and engineering industries. David has served some of the largest engineering firms in the area for more than a decade; he is a prominent member of Anchin’s Architecture & Engineering Industry Group and the Law Firms Industry Group.
David is a member of the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA).
- Accounting and Auditing
- Architecture and Engineering
- Law Firms
- Public Relations and Advertising
- Real Estate
- Be Careful of the Hidden Impact of PPP Loan Forgiveness on FAR Overhead RatesMarch 2, 2021
At first glance, it may seem like a no-brainer for architecture, engineering or construction (“AEC”) companies to apply for forgiveness of their Paycheck Protection Program (“PPP”) loan. If the loan qualifies for forgiveness, the forgiveness is not taxable, and, thanks to recently passed legislation, the expenses paid with the loan proceeds are deductible. In effect, this would be tax-free money from the government. However, an AEC company that participates in government contracts has other considerations related to PPP loan forgiveness – primarily the potential impact of forgiveness on Federal Acquisition Regulation (“FAR”) overhead rates. An AEC company that participates in government contracts must frequently calculate indirect costs (overhead) rates before submitting a bid for a contract.These rates must be compliant with the FAR, a complex set of rules governing the federal government's contract process and the rates to be billed under the contract.
- 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.
- Hedge Funds and Private Equity Firms Deemed Ineligible for PPP Loans by SBAApril 27, 2020
The same day that legislation (April 24th) increasing funding by $310 billion for the Paycheck Protection Program (“PPP”) was signed into law, the Treasury Department issued a new Interim Final Rule. This Final Rule clarified certain types of businesses that are eligible for PPP loans. Specifically, the Treasury has determined that hedge funds and private equity firms are ineligible businesses for purposes of PPP.