Jeffrey M. Palley
Jeffrey Palley, CPA, MST, is a tax partner at Anchin as well as a member of the Firm's Private Client Group and many industry groups. He has more than 30 years of experience helping his clients minimize their tax obligations.
Jeffrey specializes in tax planning and all compliance issues involving the formation, restructuring, and affairs of high net worth individuals and their privately held corporations, partnerships, limited liability companies, sole proprietorships and trusts. He is also involved in several specialty areas that include investment partnerships, broker/dealers, financial products, real estate, manufacturing and retailers.
Jeffrey has written articles for various accounting and tax publications and frequently lectures to high-level tax professionals. He has both chaired and presented to the New York State Society of Certified Public Accountants Partnership and LLC annual Tax Conference for many years.
Jeffrey is a member of the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA), where he was the Chairman of the Partnership and Limited Liability Tax Committee.
- Private Client
- State and Local Taxation
- Tax Planning and Compliance
- Architecture and Engineering
- Chemicals and Energy
- Financial Services
- Food and Beverage
- Law Firms
- Life Sciences
- Manufacturing and Distribution
- Private Equity
- Public Relations and Advertising
- Real Estate
- Proposed “Pass Through” Deduction Regulations - What does It mean for My Business?August 14, 2018
The Pass Through deduction established as part of the Tax Cuts and Jobs Act (TCJA) allows sole proprietors and non-corporate owners of pass-through entities a maximum deduction up to 20% of their Qualified Business Income (QBI). The deduction is limited to the lesser of 20% of the QBI or the greater of 50% of the amount of wages paid to employees or 25% of wages paid to employees plus 2.5% of the unadjusted cost of qualified property. It may be further limited by taxable income at the taxpayer (individual) level.