Beyond the Numbers: Melissa P. Lanigan

(Aug, 2010)

Melissa Lanigan joined Dermody, Burke & Brown, CPAs, LLC in 2007. As a Tax Senior Associate at the firm, Melissa primarily serves corporate clients in the closely-held family business arena working mostly on large multi-state corporate clients in the manufacturing, retail and distribution industries. Melissa earned her Bachelor of Business Administration Degree in Accounting from Niagara University in 2005 and is a member of NYSSCPA.

Melissa currently resides in Rome, NY with her husband Jeffrey.

New York State Economic Development Incentives, Take II: Excelsior Jobs Program

(Jul, 2010)

On June 22, 2010 Governor David Patterson signed legislation amending the Economic Development law by adding a new Article 17, creating the Excelsior Jobs Program. This new incentive program is designed to encourage businesses to expand in and relocate to New York while maintaining strict accountability standards that guarantee eligible businesses deliver on job and investment commitments. Sound familiar? This is essentially the same objective as the program's predecessor, the Empire Zone program.

Is Your Business at Risk

(Jul, 2010)

It is said that small businesses in America drive the US economy. Businesses with fewer than 500 employees are estimated to contribute over 50% of the private gross domestic product. According to recent estimates by the "Small Business Administration" there are 22.9 million small businesses that employ about 50% of all private sector workers. Small businesses are great businesses. They are innovators; highly skilled and they can change rapidly as times change. As a result of these features, small businesses can be quite profitable.

Beyond the Numbers: Brian R. DuMond, CPA

(Jul, 2010)

Brian R. DuMond, CPA, started with Dermody, Burke & Brown in January 1987, and leads the Firm’s Risk Management Niche. He is a graduate of Le Moyne College and is a member of the NYSSCPA and AICPA.

Expanded Information Reporting on Forms 1099 Included in Health Care Bill

(Jun, 2010)

On March 23, 2010 President Obama signed the comprehensive health care overhaul legislation known as the Patient Protection and Affordable Care Act into law. The much publicized portions of the law dealt with the expansion of health care coverage through market reforms, tax incentives and the expansion of eligibility for Medicaid. A not so publicized portion of the law has dramatically changed the requirements in regards to the informational reporting done on forms 1099.

Mid-Year Update on New and Expiring Tax Provisions

(Jun, 2010)

In our February 2010 issue of The Focus, William Killory, CPA, discussed the "expiring tax provisions affecting your bottom line". This month we will touch on a few other expiring tax provisions and discuss some newly adopted tax provisions for 2010.

Beyond the Numbers: Lisa M. Cornish

(Jun, 2010)

Lisa M. Cornish, CPA, CMA is a certified public accountant and certified management accountant at Dermody, Burke & Brown, CPAs, LLC with 19 years accounting experience. She recently joined the firm in January and previously worked in private accounting as a controller for a local general contractor, where she managed the accounting and financial aspects of the company. At DB&B, Lisa mainly works in the tax department preparing individual, corporation, subchapter S-Corp and partnership returns.

The Patient Protection and Affordable Care Act 2010

(May, 2010)

Health care reform is now the law of the land. And nearly every individual and business in the U.S. will be affected by the new law's provisions.

The law generally requires most individuals to have health insurance coverage. This will be accomplished with credits for small businesses who supply health care insurance and penalties to larger businesses that don't. There will also be credits for taxpayers who obtain insurance and penalties in the future for those who do not have coverage. That is the easy part to explain.

Does Your Company Have the Right Retirement Plan?

(May, 2010)

When a business gets to the point in its life when the owners know the business is going to survive, it may be time to start thinking about setting up a retirement plan. This is usually when the owner's are making enough money and starting to complain about how much they are paying to Uncle Sam.

There are several different types of retirement plans to consider. The right plan will depend upon how you answer the following questions:

Beyond the Numbers: Madelyn H. Hornstein, CPA

(May, 2010)

Madelyn H. Hornstein, CPA has been with Dermody, Burke & Brown since 1983 and serves as the firm’s Chief Executive Officer. Madelyn focuses on setting the company’s future course through strategic growth, ensuring continued client success, and maintaining the personal relationships so vital to a successful firm. Madelyn also heads DB&B's Employee Benefits division. She and her team provide design, set-up and on-going administration of retirement plans.