Marc A. Newman
Associate Managing Partner
Marc Newman, CPA, CGMA, is an associate managing partner as well as an accounting and audit partner at Anchin. His practice focuses on solving business and tax issues of privately held companies. Marc emphasizes the importance of listening to clients in order to fully understand their needs and then uses his years of experience to develop practical solutions. In addition to the more common types of engagements, Marc has been involved in a range of corporate and partnership acquisitions, dispositions, financing, and restructuring transactions.
Besides serving as an executive partner of the Firm, Marc is also a member of the Firm's Construction Industry Group and the Real Estate Industry Group. He uses his knowledge of the construction and real estate industries to assist real estate developers and operators in maximizing post-tax returns.
Marc services businesses in real estate, construction, insurance, hospitality and the food and beverage industry, among many others.
Marc brings a keen understanding of audit and accounting services to all of his engagements that goes well beyond the statutory requirements. He works with clients to build tax strategies and business plans that fit individualized needs and goals while responding to changing economic environments.
He is a member of the American Institute of Certified Public Accountants (AICPA), the New York State Society of Certified Public Accountants (NYSSCPA), the New York Building Congress (NYBC), and the Construction Financial Management Association (CFMA).
- Accounting and Auditing
- Tax Credits and Incentives
- Real Estate
- What You Need to Know About the Real Property Income and Expense (RPIE) Extension for Filing and the New RequirementsMay 19, 2020
In response to the COVID-19 pandemic, the NYC Department of Finance (DOF) has extended the deadline for the submission of 2019 Real Property Income and Expense (RPIE) statements and storefront registry (new for this year - see below) filings from June 1, 2020 to July 1, 2020. Submissions must be filed electronically, unless you have previously been granted a waiver allowing you to file by mail. New York City continues to expand the type of information real estate owners are required to disclose. Here is a brief reminder of certain filings required to avoid penalties and maintain your rights to challenge assessments.
- 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.
- Key Considerations for Real Estate Entities on PPP Loan IneligibilityMay 4, 2020
If a business applies for and receives a PPP loan that they are ineligible for, they will be subject to civil or criminal penalties. On April 23rd, the SBA and the treasury stated that if a borrower made a false certification and returns the funds by May 7th, the government will not take any action against the borrower. Many believe that May 7th is a catch-all date to return funds for any reason, including ineligibility, to avoid the government from assessing any penalties, although this has not been stated by the government and therefore we suggest you consult your attorney.
- Important Changes From the CARES Act Provide Relief to the Real Estate IndustryApril 30, 2020
The recently passed CARES Act repealed provisions of The Tax Cuts and Jobs Act (TCJA) of 2017 that eliminated the ability to carryback Net Operating Losses (NOLs) and also limited the use of an NOL carryforward to 80% of taxable income. This important change now allows for NOLs incurred in tax years 2018, 2019 and 2020 to be carried back 5 years allowing for tax refund claims.
- PPP Application Commonly Asked QuestionsApril 24, 2020
The Federal government approved $349 Billion for the Paycheck Protection Program (PPP), all of which has been allocated to loan applicants. As we anxiously await additional funding for this program, we thought it would be helpful for those that have yet to apply to learn from the trials and tribulations of those that have filed their applications. Here are some of the frequently asked questions we have received from applicants.
- The CARES Act Provides New Refund Opportunities April 23, 2020
The Tax Cuts and Jobs Act (TCJA) of 2017 limited the amount of business losses that a non-corporate taxpayer can utilize to offset their non-business income.
- Are Real Estate Businesses Eligible to Participate in the Paycheck Protection Program (‘PPP Loans’)?April 6, 2020
There is a concern that several types of real estate businesses considered “passive” under the SBA rules may not qualify without further clarification from the Treasury. Real estate management companies are not considered passive and are therefore eligible for PPP.
- A Message from Anchin's Real Estate GroupApril 1, 2020
The Real Estate Group at Anchin encourages you to work with professionals that have a deep understanding of the CARES act and how it will affect the Real Estate market.
- Lessees: A Stitch in Time Will Save Problems Down the LineDecember 30, 2019
On November 15, 2019, the Financial Accounting Standards Board (FASB) announced it had officially delayed implementing certain accounting standards for private companies, including the new lease accounting standard (ASC 842) for an additional year, from January 1, 2020 to January 1, 2021. But don’t breathe a sigh of relief yet. You will need this extra time to understand the process involved and to collect all the necessary data in order to comply by the deadline.
- Governmentʼs New Tax Law Helps Contractors Catch a BreakMay 2, 2018
The TCJA contains some significant provisions affecting contractors, including a potentially substantial (temporary) deduction for owners of 'pass-through' entities. Anchin's Marc Newman shares more with Real Estate Weekly.
- Joint ventures: Look before you leapOctober 7, 2016
Partnering up with another construction firm can be beneficial, if you understand the inherent risks with a joint venture. Anchin's Marc Newman tells Real Estate Weekly why it's important to look before you leap.
- Know your financial pulse, it could save your company’s lifeAugust 6, 2015
Just as a wise patient undergoes regular medical checkups, a construction firm should have regular financial checkups.
- Back to the future: Create a viable buy-sell agreement nowMay 6, 2015
It would be wonderful if the future just took care of itself. But in the case of buy-sell agreements, the future depends on what’s done today.
- Key Employee Retention Plans for Construction Firms: Retaining Top Talent Remains a Challenge for Privately-Held CompaniesMarch 15, 2017
Construction companies face a variety of overwhelming, unique challenges. Apart from the competitiveness of the industry—which is a challenge in itself—the fact that many projects
- Solving Human Capital Issues In The Construction IndustryJune 6, 2017
Anchin Associate Managing Partner Marc Newman discusses human capital issues and the importance of retaining key talent in the architecture, engineering and construction industries, offering steps that companies can take to incentivize talent to remain with the firm.
- Key Employee Retention Strategies For The Construction IndustryMay 17, 2017
Anchin Associate Managing Partner Marc Newman discusses strategies for key employee retention in the architecture, engineering and construction (AEC) industries.
- Employee Retention February 13, 2016
Anchin, Block & Anchin LLP Associate Managing Partner Marc Newman discusses Employee Retention.
- Exit Strategy February 13, 2016
Anchin, Block & Anchin LLP Associate Managing Partner Marc Newman discusses Exit Strategy.
- Employee Retention for Privately Held Companies February 8, 2016
Anchin, Block & Anchin LLP Associate Managing Partner Marc Newman discusses Employee Retention for Privately Held Companies.