Richard H. Stieglitz
Tax Partner, Tax Leader of Anchin’s Consumer Products Group
Richard Stieglitz, CPA, is a tax partner at Anchin. He is the Tax Leader of the Firm’s Consumer Products Group and a member of its Tax Credits & Incentives Group.
Richard is also the Firm's expert on 529 Plans, educational tax benefits and maximizing Social Security benefits. His clients include high net worth individuals and family offices, distressed debt funds, and real estate companies. Richard's experience delivering an array of tax credits to the firm's clients compliments his expertise within taxation as well as general tax matters.
Richard has worked with companies to achieve maximum tax savings; he helps his clients take advantage of programs that offer incentives and encourage economic development, business investment, and job creation. He has identified savings under various economic development programs for more than 100 local businesses. Richard's tax knowledge allows him to coordinate economic development benefits in relation to tax issues and incentives. His experience has added savings to businesses in all types of industries, many of which were certified under the program but lacked benefits.
Richard has written numerous articles published in the Law Firm Partnership and Benefits Report, where he serves on the Board of Editors. Some of his other articles have been printed in Accounting & Financial Planning for Law Firms. Rick has been quoted in The New York Times and frequently lectures on taxation issues.
- Private Client
- Tax Credits and Incentives
- Tax Planning and Compliance
- Consumer Products
- Real Estate
- Is Your Company Eligible for a Refundable Payroll Tax Credit for Missed Work Time Related to the COVID-19 Vaccination?April 26, 2021
The American Rescue Plan extended and expanded the provisions of this credit to include employees who are experiencing symptoms, seeking a medical diagnosis or awaiting the results of the COVID test or are in the process of obtaining or recovering from the effects of any COVID-19 immunization.
- What You Need to Know About the American Rescue Plan Act of 2021March 12, 2021
On March 11, 2021, the American Rescue Plan Act of 2021 (ARP) was signed into law by President Biden. The contents of the $1.9 trillion bill are mostly in line with the plan set forth by President Biden before he was inaugurated on January 20. The package is intended to provide additional economic relief related to the ongoing COVID-19 pandemic, and the majority of funds are allocated towards enhanced unemployment relief, expanded funding for COVID-19 relief programs, aid to state and local governments, and assistance to schools. From a taxpayer perspective, the bill included tax provisions that provide relief both to businesses and individuals through enhancements, and expansions of credits and programs that were put in place to keep families and small businesses afloat through the ongoing crisis. This includes an extension of payroll tax credits first instituted at the start of the pandemic for businesses.
- Do You Qualify for the Tax Benefit of Home Office Deductions?March 9, 2021
Are you one of the millions of people working from home during the COVID-19 pandemic? To contain the spread of the COVID-19 virus, many business owners and their employees were required to work from home. After incurring the costs to set up a workstation, you may have noticed that you are using more electricity and water, talking more on the phone, and relying on an extra cost super-fast internet connection to get your work done. How should you treat these extra costs? Have you been wondering whether you can claim a federal tax deduction for home office expenses? Here is what you need to know about qualifying for home office tax deductions.
- When Should a Landlord Accrue Rents?February 26, 2021
As the COVID-19 pandemic affects every aspect of our lives, we continue to see how the outbreak has negatively affected our economy too. Every industry has been impacted by Coronavirus shutdowns. One of the hardest hit industries is the real estate rental market. Whether you are a landlord or a tenant, you are feeling the impact.
- 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.
- The Impact of the New Spending BillDecember 19, 2019
A spending bill currently working its way through Congress is expected to be signed by President Trump this week to avoid a government shutdown. The bill includes certain “tax extenders” as well as other tax provisions.
- What Tax Credits Do I Qualify For?December 2, 2019
TAX SEASON IS AROUND the corner, and if you want to reduce how much you pay the government, you need to understand which tax credits you can claim.
- 529 Plans and Tax ChangesAugust 29, 2018
Under the Tax Cut and Jobs Act of 2017, funds in 529 Plans are no longer restricted to college and university expenses. This means that families who used to foot the bill for private school tuition (kindergarten through 12th grade) from already-taxed assets can now use the tax-advantaged accounts to minimize some of the costs.
- Tax Cuts and Jobs Act Impacts 529 PlansFebruary 23, 2018
Under the Tax Cuts and Jobs Act, the definition of qualified higher education expenses has now been expanded to include tuition expenses for public, private or religious school from Kindergarten through 12th Grade if paid after December 31, 2017. Parents can now take a tax-free distribution of up to $10,000 per year per beneficiary for qualified K-12 tuition expenses.
- How to Get Your Ex-Spouse's Social Security BenefitsDecember 1, 2016
Anchin Social Security Benefits expert, Richard Stieglitz, points out the odd quirk that lets multiple divorcees pick their benefits based on the highest earning ex-spouse.
- The Top 3 Reasons Seniors Claim Social Security Too EarlyAugust 7, 2016
Richard Stieglitz, Anchin's expert on maximizing Social Security benefits, comments on reasons for early withdrawal.
- The Protecting Americans from Tax Hikes (PATH) Act of 2015 - Educational BenefitsFebruary 10, 2016
On December 18, 2015, Congress passed and the President signed The Protecting Americans from Tax Hikes (PATH) Act of 2015. This legislation extends or retroactively renews and makes permanent a number of federal tax provisions including certain educational benefits.
- Social Security UpdateDecember 8, 2015
On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015. The Social Security changes reflected in the law affects several previously used strategies, restricting methods that married couples had available to increase their Social Security benefits.
- IRS Retroactively Increases Transit BenefitsJanuary 14, 2015
The Tax Increase Prevention Act of 2014 extended the provision allowing employees to exclude from gross income up to $250 a month for transit passes. This provision was extended only through 2014, and is scheduled to return to $130 a month thereafter.
- The HIRE Act and the Health Care Reform ActsJune 1, 2010
It is safe to say that March 2010 was an extremely busy month for the tax community as President Obama signed into law the Hiring Incentives to Restore Employment Act (“HIRE Act”) on March 18, and the Patient Protection and Affordable Care Act on March 23, as amended by the Health Care and Education Reconciliation Act (“Health Care Reform Acts”) on March 30. The new laws have several significant tax-related provisions that affect individual and business taxpayers including law firms, attorneys, their staff, and their clients.
- Some Highlights of The Recently Enacted Stimulus BillApril 1, 2009
On Feb. 17, 2009, the newly elected President Obama signed into law the colossal $800 billion American Recovery and Reinvestment Act of 2009 (the “Act”). This 1,000-pluspage piece of legislation contains many important tax-breaks and enhancements that can benefit law firms and their clients, as well as individual attorneys and staff members and their families. This article addresses several of these key tax provisions included in the new act that may be advantageous.
- The Housing Assistance Tax Act And the Emergency Economic Recovery ActFebruary 1, 2009
In response to the nation’s economic downturn, former President Bush signed into law the Housing Assistance Tax Act of 2008 (“Housing Act”) on July 30, 2008 and the Emergency Economic Recovery Act of 2008 (“Bailout Plan”) on Oct. 3, 2008. The new laws have several significant tax-related provisions that affect individual and business taxpayers including law firms, attorneys, their staff, and their clients.
- 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
- Guide to Education Tax SavingsJuly 16, 2021
We are pleased to present this compilation of articles titled “Guide to Education Tax Savings", updated for The Further Consolidated Appropriations Act of 2020 and the Consolidated Appropriation Act of 2021 (CAA).
- Guide to Maximizing Social Security BenefitsMay 10, 2021
Anchin is pleased to present this compilation of strategies, “Guide to Maximizing Social Security Benefits”. Social Security benefits play an important role for retiring baby boomers. Different Social Security strategies can help to boost your monthly benefit if planned in advance. In order to optimize the use of these strategies, you need to know the basics about Social Security benefits. The strategies in this booklet explain various alternatives that can maximize Social Security benefits for your family.