Phillip M. Ross
Partner & Leader - A&E and Construction Industry Groups
Phillip Ross, CPA, CGMA is an accounting and audit partner at Anchin, Block & Anchin LLP and serves as the Leader of the Firm’s Architecture and Engineering and Construction Industry Groups. His clients range from aggressively growing companies to well-established firms in construction, architecture, engineering, and real estate and development. Phillip provides attentive service to his clients and works with them to achieve their accounting, business and financial goals.
Throughout his career, Phillip has assisted clients in securing financing, mergers and acquisitions, business consulting, tax planning and strategies, succession planning and re-structuring. He is frequently sought after as a speaker by major banks and other financial institutions and organizations in the Tri-State region. Phillip graduated Summa Cum Laude from Fordham University, where he received his B.S. in Accounting.
Phillip is a member of the American Council of Engineering Companies (ACEC-NY) where he serves on the CFO Committee, the New York Building Congress (NYBC), the Subcontractors Trade Association (STA), the General Contractors Association (GCA) and the American Institute of Architects New York Chapter (AIANY).
Additionally, he is a member of the American Institute for Certified Public Accountants (AICPA) and the New York State Society for Certified Public Accountants (NYSSCPA). He is a regular contributor to various trade journals and a speaker at industry events.
- Accounting and Auditing
- Architecture and Engineering
- Real Estate
- Is Your Construction Company Ready for Transition?June 2, 2021
Successfully transitioning a closely held construction business to the next generation while providing an exit strategy to the current owners is one of the most important and challenging tasks faced by ownership.
- What A/E/C Firms Need to Know About the R&D Tax Credit and the Employee Retention CreditMay 7, 2021
In order to stimulate the U.S. economy during the pandemic, the federal government enacted stimulus initiatives including the Paycheck Protection Program (PPP). The PPP enabled a business to receive a loan, with the ability to be forgiven if used according to loan guidelines that were put in place to help businesses keep their workforce employed during the COVID crisis. While many architecture, engineering, and construction (A/E/C) businesses successfully participated in the program, receiving the loan and later applying for and receiving forgiveness, the tax ramifications of receiving a PPP loan initially were somewhat unclear. One area of uncertainty was the tax deductibility of expenses covered by the PPP, which would also impact and reduce the expenses that could be claimed for the Research and Development (R&D) tax credit.
- The $2.25 Trillion Infrastructure “American Jobs Plan” and What it Means for the Architecture, Engineering and Construction CommunityApril 5, 2021
President Biden has put forward the long-awaited $2.25 trillion “American Jobs Plan” spending proposal for a massive infrastructure renovation. The “American Jobs Plan” lays out a budget of $621 billion for transportation infrastructure; $689 billion for building and utilities; and $500 billion for worker training, research and development, and domestic manufacturing initiatives.
- The 30% Participation Goal for MWBEs: Challenges and OpportunitiesMarch 16, 2021
Previously, New York Governor Andrew Cuomo reauthorized the Executive Law Article 15-A to extend until December 31, 2024. Originally signed into law in July of 1988, this law seeks to level the playing field for minority and women-owned business enterprises (MWBEs) by establishing goals for MWBE involvement in construction projects. The newest participation goal is 30% of the budget for each year of your grant and is established based on the results of a 2016 disparity study.
- 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 Contractors and Their Financial Partners Need to Know Related to PPPFebruary 25, 2021
Now that calendar year contractors are in the midst of preparing their financial reports for 2020, it is time to understand how banks and sureties will evaluate the PPP loans that may be included as liabilities on the contractors’ balance sheets at December 31, 2020. How will banks and sureties view PPP loans in light of an entity’s equity value and loan covenants?
- Accelerate Innovation As the Pandemic Lingers, But Keep Your Firm's Adoption RigorDecember 31, 2020
ConTech startups need to clear a high bar and demonstrate tested, added value in construction.
- How Lenders Are Helping AEC Firms Cross COVID HurdlesSeptember 3, 2020
Financially stable architecture, engineering and construction firms have been able to roll with work stoppages and workforce issues, says Phillip Ross of Anchin.
- 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.
- Anchin is recognized by Construction Executive in The Top 50 Construction Accounting Firms™August 24, 2020
Anchin has once again been recognized by Construction Executive in The Top 50 Construction Accounting Firms.™
- 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.
- COVID-19 Guidance for the Architecture & Engineering and Construction IndustriesMarch 25, 2020
The impact of the coronavirus has affected nearly every industry, and the A/E/C sectors are no exception. Although essential construction is exempt from the workforce order that Governor Cuomo announced on Friday, it is likely that there may be jobs shutting down or slowing down in the near future.
- Developing a Successful Employee Retention and Attraction PlanMarch 19, 2020
Here are three strategies your firm should consider to draw and retain talent to your business, according to Phillip Ross of Anchin.
- Evaluating The Best Tax Structure With The TCJA Tax CutsFebruary 6, 2020
With the Tax Cuts and Jobs Act (TCJA) going into effect, many construction business owners are re-evaluating their choice of entity. The TCJA has cut the federal “C” corporate income tax rate to a flat rate of 21% from a top rate of 35% and removed the corporate alternative minimum tax (AMT). Owners of pass-through entities — partnerships, S corporations and LLCs — are taxed on their shares of business income at rates as high as 37% (down from 39.6%). A C corporation offers substantial tax advantages for businesses. Pass-through entities offer advantages as well. Here are some factors to consider when determining whether to restructure your business as a C corporation.
- Anchin Discusses What’s Next in Real Estate and Construction With Distinguished Industry Leaders at Future Forward 2020February 4, 2020
Anchin hosted its 6th annual industry-leading forum, Future Forward 2020: What’s Next for New York Real Estate and Construction, on February 4 at the Sheraton New York Times Square Hotel. The half-day conference brought together leading real estate owners and developers, construction executives and other key business decision-makers to discuss the rapidly transforming New York City market.
- Anchin ranked as a Top 50 Construction Accounting Firm by Construction ExecutiveJuly 26, 2019
Anchin has been ranked as a Top 50 Construction Accounting Firm by Construction Executive Magazine recognizing the quality of Anchin's Construction Industry Group.
- Industry Experts Address NYC Transportation and Infrastructure at Anchin’s 13th Annual State of the Construction Industry Event October 2, 2018
On Friday, September 28, leading New York City based construction accounting, tax and consulting firm Anchin hosted its 13th annual State of the Construction Industry Conference, “Building the Future: The Evolution and Impact of Transportation and Beyond,” at the Yale Club in midtown Manhattan.
- Industry Leaders and Rising Stars Honored at Anchin’s 11th Annual New York Construction Awards June 14, 2018
Leading businesses in the construction industry were recognized and honored at the 11th Annual New York Construction Awards, hosted by leading NYC-based accounting, tax and consulting firm Anchin on Thursday, June 14th at Club 101 in midtown Manhattan.
- 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.
- Anchin Announces Winners of 2017 New York Construction AwardsJune 22, 2017
Anchin Block & Anchin LLP, host of the annual New York Construction Awards, awarded innovators, leaders and rising stars in the construction, architecture and engineering industries on June 14, 2017. This year’s winners were announced at an elegant ceremony at Bloomberg L.P. in New York City.
- Anchin Announces Winners of 2017 New York Construction AwardsMay 24, 2017
Anchin Block & Anchin LLP, host of the annual New York Construction Awards, has announced this year's winners.
- Anchin Construction & Development ForumFebruary 9, 2017
The third annual Anchin Construction & Development Forum was held on February 9, 2017 at the TKP New York Conference Center. Hundreds of incredible, high-level professionals whose work greatly impacts the real estate, construction, architecture and engineering landscapes of the greater New York City area, came together to discuss trends, forecasts, ideas, innovations and other relevant topics.
- Five Technology Innovations SharedFebruary 9, 2017
At the 2017 Anchin Construction & Development Forum, Mark Boekenheide of Hudson Yards, Jonathan Drescher of The Durst Organization, James Hannah of Bright Power, AJ Pires of Alloy, Peter Rosenthal of Savanna and Mitchel Simpler of Jaros, Baum & Bolles discussed the exciting and often risky topic of innovation as it relates to construction, design and development in and around NYC.
- Paid Sick Leave to Be Required for Employees of Federal ContractorsSeptember 30, 2015
Dear Construction Clients and Friends, On September 7, 2015, President Barack Obama signed an Executive Order requiring federal contractors to offer their employees up to seven days of paid sick leave per year. The executive order will impact contracts entered into on or after January 1, 2017.
- Innovators, leaders, rising stars singled out at annual Anchin awardsJuly 16, 2015
Anchin, Block & Anchin LLP held its annual New York Construction Awards honoring construction, architecture and engineering industry innovators, leaders and rising stars.
- Does Your Firm Have A Self-Insured Health Plan?November 25, 2014
To our Clients and Friends, Like most companies, Architecture and Engineering (A&E) firms need a full understanding of how the Affordable Care Act will impact their business so they can accurately budget and plan.
- Tax Incentives for U.S. Work on Foreign ProjectsJuly 28, 2014
Many Architecture and Engineering firms are expanding their scope of work into international projects. These companies may be able to reduce overall taxes and increase cash flow with the proper tax planning and structure.
- Senate Considering Proposal to Eliminate the Cash Basis of Accounting for Many Professional Service FirmsJanuary 27, 2014
The United States Senate is considering a proposal to eliminate the cash basis of accounting rules that currently exist for many professional service firms, potentially requiring these firms to change their tax method to the accrual basis. This change would greatly impact cash flow, and potentially hinder growth potential in professional service firms.
- Tax Ideas for a Booming IndustryMarch 20, 2017
The construction industry is alive and well in 2017. As a major force in New York and the greater US economy, it employs more than
- 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
- Anchin Future Forward 2020February 4, 2020
Photo Gallery for the Anchin Future Forward 2020 Conference:What’s Next for New York Real Estate and ConstructionPhoto Credit: Aaron Adler Photography
- New York Construction Awards 2018June 14, 2018
Photo Gallery for The New York Construction Awards 2018 held at Club 101
- State of the Construction Industry Event 2018September 28, 2018
Photo Gallery for the State of the Construction Industry Event 2018 held at The Yale Club
- New York Construction Awards 2017June 14, 2017
Photo Gallery for The New York Construction Awards 2017 held at Bloomberg L.P.
- State of the Construction Industry 2016September 22, 2016
Photo Gallery for State of the Construction Industry 2016 held at The Cornell Club
- State of the Construction Industry 2015October 2, 2015
Photo Gallery for State of the Construction Industry 2015 held at Bloomberg LP
- New York Construction Awards 2015June 11, 2015
Photo Gallery for New York Construction Awards 2015 held at Club 101
- Anchin Construction & Development Forum 2015February 12, 2015
Photo Gallery for Anchin Construction & Development Forum 2015 held at Scholastic Auditorium
- State of the Construction Industry 2014September 18, 2014
Photo Gallery for State of the Construction Industry 2014 held at Club 101
- State of the Construction Industry 2013September 26, 2013
Photo Gallery for State of the Construction Industry 2013 held at Club 101
- New York Construction Awards 2013June 4, 2013
Photo Gallery for New York Construction Awards 2013 held at Club 101
- State of the Construction Industry 2012September 20, 2012
Photo Gallery for State of the Construction Industry 2012 held at Club 101
- MWBE Building the Future 2012May 4, 2012
Photo Gallery for MWBE Building the Future 2012 held at Club 101
- Phillip Ross, Leader of Anchin's Architecture and Engineering Industry GroupMay 9, 2020
Phillip Ross shares how his group's value-added expertise differentiates it in the marketplace.
- Phillip Ross, Leader of Anchin's Construction Industry GroupMay 12, 2020
Phillip Ross shares how Anchin's Construction Group meets specific client needs and helps fuel clients' growth.
- 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.
- Where are they now? A Video LookbackJune 15, 2018
A look back at past honorees of the New York Construction Awards, presented by Anchin.
- Tax Considerations for Growing Construction CompaniesJune 6, 2017
Anchin Partner Phillip M. Ross discusses tax considerations for growing construction companies, specifically adjusting processes to meet requirements that take affect once certain levels of growth are achieved, and methods of preserving cash flow.
- Trends in the Construction IndustryJune 6, 2017
Anchin Partner and Construction Practice Leader, Phillip Ross, discusses trends in the construction industry and tips for companies planning to accommodate new trends.
- Succession Planning for Architecture and Engineering FirmsJune 3, 2017
Anchin Partner Phillip Ross, Architecture and Engineering Group Practice Leader, discusses considerations that A&E firms should focus on when planning for the succession or transition of the business.
- Welcome and KeynoteJune 14, 2016
At the 2016 New York Construction Awards, Phillip Ross, Partner at Anchin, Block & Anchin LLP, welcomed attendees and Richard T. Anderson, President of the
- Achieving Tax Savings February 12, 2016
Anchin, Block & Anchin LLP Partner Phil Ross talks about achieving tax savings.
- Financial Statement Impact on Surety Bonds February 12, 2016
Anchin, Block & Anchin LLP Partner Phil Ross talks about financial statements and their impact on surety programs.
- Architects & Engineers February 7, 2016
Anchin, Block & Anchin LLP Partner Phil Ross talks about Architects & Engineers.
- 10th Annual State of the Construction Industry 2015 October 7, 2015
Watch our State of the Construction Industry lookback!