Michael R. Belfer
CPA, CGMA, MST
Partner, Leader of Anchin's Public Relations and Advertising Group
Michael Belfer, CPA, CGMA, is an accounting and audit partner and is the Leader of the Firm’s Public Relations and Advertising Industry Group, as well as a member of the Firm’s Fashion Industry Group. Michael specializes in working with closely held businesses and entrepreneurial companies.
Michael offers clients a hands-on approach and assists them in developing tax structures, accounting systems, business plans, and financial and budget plans. He has expertise in business operations and solutions for long term business growth and also provides consulting services to emerging companies. Michael works with businesses in diverse industries: art galleries, diamond and jewelry, import and export, real estate, public-relations and advertising, technology and new media, as well as manufacturing and distribution.
Michael maintains strategic relationships with leading attorneys, bankers, and business consultants throughout the New York Metropolitan area to assist his clients with their needs.
He is a member of the American Institute of Certified Public Accountants (AICPA), the New York and New Jersey State Societies of Certified Public Accountants, Advisor to the Robert H. Smith School of Business at the University of Maryland, and the Finance Committee of the New York Chapter of the National Multiple Sclerosis Society.
- Accounting and Auditing
- Private Client
- Food and Beverage
- Public Relations and Advertising
- Testimonial: J Public Relations
“Partnering with Mike and the team at Anchin two years ago was one of the best business decisions we have made. Anchin has an in-depth knowledge of the Public Relations industry.”
- Considerations When Building an Art PortfolioNovember 17, 2020
Fine Art has played an important role in the lives of high-net-worth individuals and families for generations, adorning homes and nurturing souls. Fine Art taps a variety of passions very personal to the observer. At the same time, an increasing number of ultra-high-net-worth individuals have embraced Fine Art as an important part of their investment holdings.
- What You Need to Know about the Paycheck Protection Program (“PPP”) and the Tax Deductibility of Expenses Related to Loan ForgivenessMay 27, 2020
The PPP Loan Program offers much needed relief to qualified businesses struggling with the challenges of the COVID-19 crisis. Yet the ongoing changes to the rules for borrowing and loan forgiveness have made navigating the program and claiming benefits challenging as well. Let’s review a key topic - the taxation of both loan forgiveness and the expenses paid with PPP Loan proceeds.
- A Timely Message from Marc Federbush and Anchin’s Fashion GroupMay 26, 2020
In continuing to provide relevant and useful information with the fashion industry in mind, these pieces highlight M&A, which is widely predicted to bring about major, rapid changes in the fashion industry in the post-COVID landscape.
- An Update from Anchin's Fashion Group on PPP Loans and Other ReliefApril 23, 2020
The Fashion Group at Anchin encourages you to work with professionals that have a deep understanding of the CARES act, its updates and how they provide relief to fashion businesses.
- How long should I keep my tax returns? Answer: It dependsMarch 11, 2020
As a rule of thumb, you should keep your tax records for at least three years from the filing date, experts say, due to the statute of limitations for an IRS audit. Some experts advise keeping your records for even longer – up to seven years – depending on your tax situation for the year.
- How PR, Marketing and Advertising Firms Define “Consulting” Will Impact Their Eligibility for the Valuable 20% Pass-Through Entity Tax DeductionFebruary 18, 2020
In 2017, Congress enacted the Tax Cuts and Jobs Act (TCJA). The legislation created new Section 199A, Pass-through Entity Deduction, allowing non-corporate taxpayers a 20% deduction on Qualifying Business Income (QBI). However, the definition of income eligible for this tax benefit for public relations, marketing and advertising firms is not straight-forward.
- The Impact of the New Revenue Recognition Standard for Public Relations, Advertising, Digital Media and Technology/Software CompaniesDecember 17, 2019
Resources from our 12/17 session covering the five-step model and industry specific considerations for Services companies, including PR/Advertising/Media and Technology.
- Hack Attack: Understanding Unauthorized Computer Data Access From the Client’s Viewpoint WebinarOctober 2, 2019
Watch this PR Council webinar to see Russ Safirstein, leader of Anchin Digital Risk Solutions, share steps your clients must take as soon as they discover their computer system has been compromised. He also reviews risks, responsibilities, requirements and reporting deadlines that must be met with any data breach, so that you can be prepared with your crisis communications strategy.
- How New Tax Law Will Impact PR FirmsJanuary 31, 2018
Gould+Partners spoke with Michael Belfer, an accounting and audit partner at Anchin and leader of the firm’s Public Relations and Advertising Industry Group, to find out what agency owners and C-level executives need to know.
- The Introduction of Gen ZJanuary 26, 2017
By 2020, Generation Z (“Gen Z”), individuals born in 1996 or later, will account for one-third of the United States population. We’ve charted the unique factors and influences that categorize today’s generation.
- How to Strengthen Your Budgeting EffortsJuly 14, 2016
Michael Belfer, Public Relations and Advertising Practice Leader, tells Gould + Partners that agencies should keep an eye on performance and adjust their budgets as needed.
- Trade Preferences Extension Act: What Does it Mean for Your Company?July 9, 2015
On June 30, 2015, the President signed the Trade Preferences Extension Act ("The Act") into law. The Act will renew the Generalized System of Preferences (GSP), which provides duty-free treatment for selected goods from "beneficiary developing countries," such as Brazil, India, etc.
- Moving and Shaking: How Relocation Can Affect Your State and Local Tax Responsibilities in 2021 and BeyondMay 25, 2021
This webinar will help both business owners and individuals, especially those who may have recently relocated or are looking to move to lower taxing states, understand the wide range of state tax issues and new developments likely to arise in a post-COVID world.
- A Conversation with Rick GouldNovember 12, 2015
A lively exchange between Michael Belfer, CPA, CGMA and Rick Gould, CPA, JD on best practices for management of PR & Advertising Firms, hosted by
- How To Create Viral Movements With Digital MediaApril 22, 2015
Anchin, Block & Anchin LLP Partner Michael Belfer on panel discussing how to create viral movements with digital media at CoInvent Media Summit.