Russell B. Shinsky
Russell Shinsky, CPA, CGMA, is the Managing Partner at Anchin, Block & Anchin LLP and a member of the Firm’s Executive Committee. Russell is the Firm’s assurance practice leader where he focuses on the efficiency and technical proficiency of Anchin’s attest practice; he provides a range of business and consulting services to law, architectural, and engineering firms. Russell also services clients within the following industries: construction, retail, food, apparel & textile, compensation and benefits, and manufacturing and distribution.
As leader of the Firm’s Law Firms Industry Group, Russell is thoroughly familiar with the accounting, audit and tax requirements of law firms. He has been instrumental in consulting with these clients on operational aspects of their business as well as in due diligence for mergers and acquisitions. Russell also works within auditing and consulting on benefit plan matters for legal and other professional service organizations.
Russell frequently lectures to law firms and their attorneys. He has emceed speaking events and was keynote presenter at the 2013 NYC ALA economic forum. Russell has presented recent topics which include “Can Your Firm Survive Partner Departures?”, “Protecting the Law Firm’s Assets and Image with Effective Financial and Management Controls” and “The Financial Statement as a Tool for the Practicing Attorney”. He is a member of the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA).
- Accounting and Auditing
- Compensation and Benefits
- Architecture and Engineering
- Food and Beverage
- Law Firms
- Manufacturing and Distribution
- Private Equity
- Anchin Opens Long Island Office to Accommodate Growing Team of Industry Experts March 4, 2021
Anchin is pleased to announce that it has opened an office on Long Island, in Uniondale, New York.
- Engaging Employees and Earning Trust in the COVID Economy October 19, 2020
Employers need to demonstrate an understanding of, and compassion for, the challenges that their employees and their families are facing during these unprecedented times. This is truly a referendum on the leadership of every business or organization and how it will be managed in the future. I would like to share a few of the approaches we’re taking at Anchin to combat the emotional impact of the pandemic on our team.
- Anchin Names Russell B. Shinsky as Managing PartnerOctober 1, 2020
Anchin announced that Russell B. Shinsky has been elected as Anchin's Managing Partner, effective October 1st. Mr. Shinsky has served as Co-Managing Partner alongside Frank A. Schettino during the past year. Mr. Shinsky is only the seventh Managing Partner in Anchin's nearly 100-year history, and has spent his entire career with the firm.
- Seeing Around Corners: Positioning Your Business For A Post-Lockdown Environment June 11, 2020
Managing Partner Russell B. Shinsky shares what considerations business leaders should make as the economy gradually begins to reopen.
- 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.
- Anchin Law Firms Services Group UpdateApril 16, 2020
SBA Issues Additional Guidance on Eligibility Criteria for Partners & Self-Employed Individuals
- A Message from Anchin's Law Firm GroupApril 1, 2020
Our Law Firm Group has been closely monitoring the latest COVID-19 developments, particularly the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act.
- Navigating Uncharted Waters: Responding to the Business Impact of COVID-19March 31, 2020
While all organizations are in uncharted waters in dealing with the resulting economic turmoil, professional firms such as ours have a responsibility to help clients navigate through the crisis. Many businesses have addressed the immediate needs created by the pandemic: implementing remote workplace regimens, revising paid-time-off and other policies to assist employees, enacting customer support programs, etc. Having addressed the most urgent needs, it is now time to focus on issues that pose an existential threat to long-term business continuity and viability. Here is some advice that we’re sharing with our firm’s clients.
- Inside Corporate Accounting: Accounting firms embrace the futureDecember 16, 2019
Many New York City accounting firms are on the move, as they embrace technological transformation, expand their diversity and inclusion initiatives, and keep clients abreast of the implications of the sweeping Republican tax reform.
- Anchin Names Russell B. Shinsky as Co-Managing PartnerOctober 3, 2019
We are pleased to announce that Russell B. Shinsky has been elected as Anchin’s Co-Managing Partner, effective October 1st. Russell will serve alongside current Managing Partner, Frank A. Schettino, who is scheduled to retire September 30, 2020. Russell will become the seventh Managing Partner in Anchin’s nearly 100-year history, and like Frank, has spent his entire professional career at the firm.
- 6 Ways Accounting Firms Can Innovate SuccessfullySeptember 17, 2019
Anchin Partner Russell Shinsky is quoted extensively in this interview with BKR International's Aiysha (AJ) Johnson about accounting firms of the future and innovation.
- 4 Key Components To New Firm Partnership AgreementsAugust 28, 2018
A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Partner Russell Shinsky.
- Wine, Art, Cars: Alternative Luxury InvestmentsSeptember 14, 2017
Partner Russell Shinsky advises on boat ownership regarding depreciation, sales tax and mortgage interest deductibility.
- What to Consider When Buying a BoatJuly 31, 2017
Enjoyment of boating and the life at sea is a passion that is truly timeless. Throughout history, advocates have spanned all ages, professions and tax brackets. While many find falling in love with boating to be almost automatic, making the decision to own a boat requires careful consideration.
- Important Changes for the 2017 Tax Filing Season for all Calendar Year Law FirmsJanuary 5, 2017
The Highway Act legislation gave rise to sweeping changes for the 2017 tax season due dates for filing both original tax returns and extensions.
- From BigLaw To Your Own Firm: 4 Tips For Legal StartupsAugust 23, 2016
Russell Shinsky, Chair of Anchin's Law Firms Industry Group, shares advice about starting a law firm.
- Law Firms: Why Entity Type MattersAugust 1, 2013
Structure matters when attorneys think about setting up a new practice, merging into or acquiring another firm, or making a lateral move. The tax and financial ramifications are significantly different for each of these entities and must be evaluated as early as possible to avoid costly mistakes.