Tax Partner & Tax Leader - A&E and Construction Groups
Paul Gevertzman, CPA, J.D., is a tax partner at Anchin. He is the Tax Leader of the Firm’s Architecture and Engineering and Construction Industry Groups. His financial experience combined with his legal background allows him to bring a unique perspective to his clients.
Paul leads Anchin's Economic Opportunity Zones Group and is also Co-Practice Leader for Anchin's Tax Credits & Incentives Group, which assists companies in identifying and receiving local, state and federal tax incentives and credits. Paul has extensive tax and business experience with corporations, individuals, and partnerships. He assists companies to maximize their economic development incentives, enabling them to receive benefits, which can reduce and often eliminate a company’s tax liability. Through strategic tax planning, Paul has helped clients save significant tax dollars, helping them to maximize profits and reinvest in their business.
Paul is a prolific speaker whose expertise is frequently sought by major media outlets including The Wall Street Journal, The NY Times, Money Magazine, Bloomberg Radio; and Yahoo Finance Live’s The First Trade.
Paul is a member of the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA), having served on its Employee Benefits Committee for ten years. Paul is admitted to the United States Tax Court, and is a member of the Board of Directors at Southwest Brooklyn Industrial Development Corp.
- Research and Development Tax Credits
- Opportunity Zones
- Tax Credits and Incentives
- Tax Planning and Compliance
- Architecture and Engineering
- Food and Beverage
- Interest in Opportunity Zones Peaks as Higher Rates LoomJuly 27, 2021
The real possibility of higher capital gains rates has fueled interest by investors in opportunity zone funds. While Code Section 1400Z, providing for the funds, was slipped into the Tax Cuts and Jobs Act late in the legislative process and with little fanfare, it quickly became popular with investment advisors.
- What Architecture, Engineering and Construction Firm Owners Need to Know About the Impact of a Full or Partial Suspension on the Employee Retention CreditMarch 25, 2021
A/E/C firms that experienced some type of government suspension in 2020 may qualify for this credit even if they did not have the required reduction in Gross Receipts. Even if you were considered an essential contractor, you may still qualify as having experienced a partial government suspension.
- 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.
- Tax pros’ top grumbles about the IRS Coronavirus slowdownAugust 28, 2020
Anchin's Paul Gevertzman comments on the impact of the pandemic on the IRS and tax filers.
- What You Need to Know about Additional Opportunity Zone Relief Available due to COVID-19 PandemicJune 5, 2020
Qualified Opportunity Funds (“QOF”) and their investors have been working diligently to try and meet certain time-sensitive deadlines in order to comply with various Opportunity Zone rules. Due to the COVID-19 pandemic and the quarantine restrictions instituted by local governments, meeting these deadlines has been challenging, if not impossible. The Internal Revenue Service has released Notice 2020-39 (“the Notice”) providing much-needed relief for QOFs and their investors. The Notice provides relief for the 180 day investment requirement for QOF Investors, the 90 percent investment standard for QOFs, and the 30 month substantial improvement period. The Notice also confirms the 24-month extension of the working capital safe harbor and the 12-month extension for QOFs to reinvest certain proceeds.
- 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.
- Anchin Architecture, Engineering & Construction Groups UpdateApril 17, 2020
Additional Guidance from SBA expands Eligibility Criteria for Partners & Self-Employed Individuals There are several updates to guidance on the PPP Loan Program that Architecture, Engineering, and Construction companies should take note of.
- Anchin's Paul Gevertzman on Amazon Cancelling Plans for HQ2 in New YorkFebruary 14, 2019
Bloomberg Radio asked Anchin's Paul Gevertzman to comment on Amazon's surprising retreat on its New York City headquarters.
- Anchin's Paul Gevertzman on "Bloomberg Small Business Report"January 22, 2019
In this audio clip from The Bloomberg Small Business Report, Anchin's Paul Gevertzman spoke about some of the challenges that small business owners may face this upcoming tax season, including confusion around the 20% pass-through deduction.
- Opportunity Zone Proposed Regulations Issued: What Was AnsweredOctober 22, 2018
On October 19, 2018, the Treasury released proposed regulations relating to the Opportunity Zones. These regulations may be relied upon by taxpayers until final regulations are published. The proposed regulations help clarify some of the ambiguities/questions that were inherent in the TCJA with respect to Opportunity Zones. Taxpayers now have guidance to rely on to help start investing in Opportunity Zones.
- More on the New Qualified Opportunity Zones – Formation and Operation of a FundAugust 9, 2018
This is the third in a series of alerts by the Anchin Tax Credits and Incentives Team on the new Economic Opportunity Zones program created by the Tax Cuts and Jobs Act (TCJA) in December of 2017 to encourage and incentivize long term investments in qualified low-income communities nationwide. The program provides a tax incentive for investors to roll their capital gains into a Qualified Opportunity Fund (QOF), that in turn invests in certain economically distressed communities.
- More on the New Qualified Opportunity Zones – Significant Tax BenefitsJune 13, 2018
This is the second in a series of alerts on the new Economic Opportunity Zones program created by the Tax Cuts and Jobs Act (TCJA) in December of 2017 to encourage and incentivize long term investments in qualified low-income communities nationwide. The program provides a tax incentive for investors to roll their capital gains into a Qualified Opportunity Fund (QOF) that in turn invests in economically distressed communities.
- New Qualified Opportunity (Zone) Funds Offer Significant Tax Incentives for InvestorsMay 18, 2018
The Economic Opportunity Zones program was created by the Tax Cuts and Jobs Act (TCJA) in December of 2017 to incentivize the private sector to invest long term in qualified low-income communities throughout the United States in order to spur economic development and job creation. The program seeks to utilize a portion of the estimated 2.3 trillion dollars of unrealized capital gains (in the stock market and mutual funds alone) for development in these designated areas.
- Anchin Construction & Development Forum 2018February 15, 2018
The fourth annual Anchin Construction & Development Forum was held on February 15, 2018 at The New York Academy of Sciences.
- How to Survive a Tax AuditFebruary 14, 2018
Tax Partner Paul Gevertzman says first confirm that the audit notice itself is legitimate. If it is, don't go it alone.
- When Are Your Taxes Due? A Schedule and Primer for Filing for 2017January 11, 2018
Tax Partner Paul Gevertzman discusses the prudence of filing early in case of identity theft, as well as on the complications of S-corporation filings.
- Ready for the 2018 tax season? It starts Jan. 29, and here’s why you should file early.January 11, 2018
Tax Partner Paul Gevertzman's advice to taxpayers to assume their identifying information has been compromised due to the Equifax breach is included in Michelle Singletary's financial column.
- Why You Should File Your Taxes ASAPJanuary 5, 2018
Tax Partner Paul Gevertzman advises taxpayers to assume their data has been compromised and to use the IRS transcript service to monitor activity.
- Location LuresNovember 6, 2017
Tax Partner Paul Gevertzman offers practical observations on credits and incentives, providing positives & negatives and showcasing pitfalls.
- Wisconsin’s Foxconn Deal Highlights How States Use Cash to Sweeten BidsOctober 20, 2017
Tax Partner Paul Gevertzman weighs in on this increasingly popular approach.
- Key New York City Tax Breaks ExtendedJuly 12, 2017
Valuable tax breaks for New York City businesses and developers were extended as part of New York State Assembly Bill 40001, enacted into law on June 29, 2017. The State's new omnibus bill renewed and extended programs that provide attractive financial incentives for businesses to remain in or relocate to Lower Manhattan and the outer boroughs.
- Sharp turns: Unexpected twists in the 2017 tax filing seasonMarch 7, 2017
Tax Partner Paul Gevertzman recommends considering an extension, in case pending rule changes are to the filer's benefit.
- Facepalm! 7 Tax Mistakes Likely to Invite an AuditFebruary 23, 2017
Paul Gevertzman, Tax Partner, cautions us to avoid simple mistakes that might trigger scrutiny and explains the risk of writing off a small business loss the IRS might not see as deductible.
- How to Avoid Tax ScamsFebruary 22, 2017
Tax Partner, Paul Gevertzman, highlights the foolishness of sending information via e-mail rather than secure upload as well as the IRS' improving ability to spot false returns filed to scam a refund.
- Cuomo Rebrands Start-Up NYFebruary 8, 2017
At the end of January, Governor Cuomo announced proposed changes to Start-Up NY, an economic development program created in 2013 to provide a 10 year tax-free environment for companies looking to open or expand business on or near college campuses, primarily in upstate New York. The program received widespread criticism, questioning both its fairness and its effectiveness.
- Additional Transition Relief for Employers Claiming the Work Opportunity Tax CreditJuly 20, 2016
Notice 2016-40 expands and extends by three months the transition relief provided in Notice 2016-22 for meeting the 28-day deadline in Section 51(d)(13)(A)(ii) of the Tax Code.
- How to protect your credit when your spouse starts a businessApril 29, 2016
Tax Partner Paul Gevertzman provides solid advice on the use of corporate structures, avoiding personal credit cards and the pluses and minuses of retitling a residence.
- Last-Minute Moves That Can Trim Your Tax BillMarch 31, 2016
Anchin's tax expert, Paul Gevertzman, offers guidance before submitting your tax return.
- Window for Work Opportunity Tax Credit ExtendedMarch 16, 2016
The IRS is extending the time employers who want to claim the Work Opportunity Tax Credit (WOTC) have to file Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit, for 2015 hires.
- How to Use Tax Planning for Better Cash Flow ManagementMarch 10, 2016
Paul Gevertzman, tax expert at Anchin, discusses how tax planning can assist with cash flow projections.
- The 5-Step Guide to Launching Your Own BusinessMarch 2, 2016
Paul Gevertzman, tax expert at Anchin, offers an unexpected suggestion to consider when launching your new business.
- How to Determine What Your Business Idea Is WorthMarch 2, 2016
Tax expert at Anchin, Paul Gevertzman, recommends new business owners evaluate options based on realistic expectations.
- 12 Times When It Makes Sense to Hire a Tax PreparerMarch 2, 2016
Anchin's tax expert, Paul Gevertzman, identifies situations when a tax accountant could be a valuable addition.
- For Small Businesses and Entrepreneurs, Some Welcome ClarityFebruary 19, 2016
Paul Gevertzman, Anchin's Tax Credits and Incentives Leader, provides clarity to small business owners on the PATH Act.
- Small Businesses Need to Act Fast to Get This Huge Christmas PresentDecember 23, 2015
Many small business owners are breathing easier now that new legislation makes it clear how much they can deduct for 2015 purchases such as computers, furniture, vehicles, and machines under the popular Section 179 deduction.
- These 3 Businesses Will Benefit From the Ginormous $1.8T Spending BillDecember 23, 2015
Some businesses have a reason to be very merry this Christmas, thanks to this bill. In fact there are at least three that come to my mind that will profit. Are you one of them?
- Congress Makes Some Tax Extenders PermanentDecember 16, 2015
Congressional leaders unveiled a wide-ranging deal on tax extenders, making some items permanent.
- New York City-Corporate Income, Miscellaneous Taxes: Authorization for Biotechnology Credit Extended for Three YearsOctober 7, 2015
The Biotechnology Tax Credit allows qualified emerging technology companies (QETCs) specializing in biotechnology to claim a tax credit against the General Corporation Tax and Unincorporated Business Tax for amounts paid or incurred for certain expenses in New York City.
- Accelerated Sales Tax Exemption Program (A-STEP) May Save You ThousandsJuly 16, 2015
Small businesses and their growth are vital components of the economic livelihood of New York City. However, many of them are unable to expand their businesses and achieve long term success due to lack of financial resources. To help, the New York City Industrial Development Agency (NYCIDA) has designed the A-STEP Program to help small businesses with equipment upgrades and renovations.
- Still Much for Employers to Do During 2015 WOTC Hiatus PeriodJuly 7, 2015
The Work Opportunity Tax Credit (WOTC) is a federal income tax credit for each new hire that is a member of certain targeted groups.
- Two-Year Extension for Vital New York City Tax BreaksJuly 1, 2015
Lucrative tax breaks for New York City businesses and developers were extended after the recent legislative sessions concluded in Albany. These tax breaks provide attractive financial incentives for businesses to remain in or relocate to Lower Manhattan and the outer boroughs.
- Labor-law infractions cost these firms more than cashMay 20, 2015
Local construction firms that aren’t following labor laws to the letter need to get their act together in the wake of a $1.42 million settlement between the U.S. Department of Labor and four related Long Island City plumbing and heating contractors, small-business advisers say.
- Expiration date approaching for certain New York City based incentivesApril 28, 2015
The following New York City based incentive programs are expiring on June 30, 2015
- IRS warns of sophisticated telephone scamApril 15, 2015
The Treasury department says thousands of people have fallen victim to a phone scam, where a caller impersonates an IRS agent, and threatens criminal penalties and other legal action if money isn’t paid immediately.
- Is that on-demand worker actually your employee?April 12, 2015
John McLaughlin depended heavily on freelance customer-service representatives and other help he found on oDesk while growing his mobile-app firm, UniquePhones, in SoHo. But when he decided to offer 24-hour customer service and needed the reps to move to hourly shifts, he made what may have been a prescient decision.
- New Jersey Tax Incentives OpportunityMarch 30, 2015
Governor Chris Christie is proposing turning New Jersey’s Business Employment Incentive Program (BEIP) into a program offering tax credits in exchange for job creation. This comes after lawmakers cut an estimated $175 million in BEIP funding from the budget to help close a revenue shortfall last year.
- So Your Taxes Are Being Audited By the State or IRS: Now What?March 18, 2015
If you’re being audited by the Internal Revenue Service this year, you’re either an unlucky or extremely unfortunate individual.
- What to Do if You’re AuditedMarch 18, 2015
If you’re being audited by the Internal Revenue Service this year, you’re either an unlucky or extremely unfortunate individual.
- Replacing tax rebates with tax credits bad for local businesses and New Jersey alikeMarch 14, 2015
When state Sen. Raymond Lesniak (D-Union) introduced legislation late last month to issue 10-year tax credits to businesses promised rebate checks under the now defunct Business Employment Incentive Program, he took a rather sanguine view of the bill and its benefits for local companies.
- Window of opportunity to claim Work Opportunity Tax CreditFebruary 25, 2015
The Work Opportunity Tax Credit (WOTC) is a federal income tax credit for each new hire that is a member of certain targeted groups. The Tax Increase Prevention Act of 2014 (the Act), enacted on December 19, 2014 extended the WOTC through December 31, 2014, for companies hiring individuals in targeted groups, and for qualified tax-exempt organizations hiring qualified veterans.
- Here Are The Tax Changes You Should Know About This YearJanuary 19, 2015
The Senate recently extended several tax provisions – including mortgage debt forgiveness and credits for energy-efficient home improvements – that had expired at the end of 2013.
- COVID-19 Update Center
The Anchin COVID-19 Update Center is available to simplify your access to critical financial information. It is updated regularly to supplement your communications with your
- Anchin Webinar: Everything You Need to Know About the New Opportunity Zone Funds featuring the Latest GuidanceJanuary 10, 2019
In this recorded webinar, Anchin assembled a panel of professionals to discuss everything you need to know about the new Opportunity Zone Funds featuring the latest guidance.
- Anchin Webinar: Tax Reform for the Architecture, Engineering and Construction IndustriesFebruary 5, 2018
In this recorded webinar, Anchin assembled a panel of tax professionals from our Architecture, Engineering and Construction Industry Group to specifically address issues relevant to the A/E/C industry.
- Joint Ventures: What Construction Companies Need to Consider August 22, 2016
When setting up joint ventures involving construction, real estate and other entities, tax is often an afterthought. Paul Gevertzman, Partner in Anchin, Block & Anchin's
- Maximizing Your Tax BenefitsFebruary 15, 2016
Anchin, Block & Anchin LLP Partner Paul Gevertzman talks about maximizing your tax benefits.