Accountants take the Polar Plunge at the B'ville Big Chill

Employees of Dermody, Burke & Brown took the icy plunge into the Seneca River as TEAM DB&B ICE BREAKERS for the Baldwinsville Big Chill on Saturday, January 31. This is the third year Dermody, Burke & Brown has participated in the Polar Bear Plunge and the team raised over $1,000 in donations to benefit the Greater Baldwinsville Chamber of Commerce and the Ronald McDonald House Charities of Central New York.

View photos from the event on our Facebook page.  

Kane, Bowles & Moore Joins Dermody, Burke & Brown

Effective January 1, 2015, Kane, Bowles & Moore, P.C., a Liverpool-based accounting and consulting firm, will merge with Dermody, Burke & Brown, CPAs, LLC, one of the largest locally owned and independent CPA firms in Central New York, and will operate under the Dermody, Burke & Brown name.


"We are very excited about this merger as it brings together two excellent firms in Upstate New York."


Staff of Dermody, Burke & Brown can expect:


100% of initial Costs associated with your CPA Exam will be covered by the Firm, including registration, exam fees and review materials, such as the Becker Review Course.

Excellent Paid Time Off as well as Nine Paid Holidays.

Competitive Starting Salary with the Central New York Market.

Health Insurance partially subsidized by the Firm.

Health Savings Account Benefits.

CPA Client Bulletin - September 2018

New York Establishes Employer Compensation Expense Program

(Aug, 2018)

This past April New York established the Employer Compensation Expense Program (ECEP) as a component of the 2018-2019 New York Budget (S7509-C/A9509-C) which will begin in 2019.  The new optional payroll tax referred to as the Employer Compensation Expense Tax (ECET) is a workaround to reduce the effects of the Tax Cuts and Jobs Act (TJCA) that limits itemized deductions for state and local income taxes (SALT) for individuals to $10,000 per year.  The TJCA limits the deductibility of state income taxes paid by individuals, however, there is no cap for ordinary and necessary business expense

Vacation Homes Under the New Tax Law

(Aug, 2018)

Upon returning home from that great summer vacation the idea of buying a second home in those beautiful locations may be on your mind, along with the sounds of the waves and Jimmy Buffet.  While there are many economic (pricing and carrying costs) and lifestyle factors to consider with the second home purchase decision, the tax implications should also be carefully considered. Navigating the tax complexities of these decisions has not become any simpler under the Tax Cuts and Jobs Act (TCJA) signed into law December 22, 2017. 

Beyond the Numbers: DB&B Payroll Services

(Aug, 2018)

Payroll Services can provide you the solution to streamline your company’s payroll process and allow you to run a more efficient business and increase profitability.  Dermody, Burke & Brown has been providing quality payroll services for a number of years to a variety of clients around the Central New York area.

CPA Client Bulletin - August 2018

FASB’s Revenue Recognition for Not-for-Profits Effective December 31, 2019

(Aug, 2018)

Most of us are steeped in the implementation guidance for the new Financial Accounting Standards Board (FASB) reporting standard update beginning with December 31, 2018 year-ends, but right on its heels a year later for most not-for-profit (NFP) organizations is ASU 2014-09.  It is the hope of the FASB that there will be improved comparability of revenue recognition across all NFP industries and between entities when it becomes effective for December 31, 2019 year-ends and beyond.  Although this new revenue recognition standard focuses more on contracts with customers, its application to NF

Tax Implications of MLMIC Payouts – August 22nd Deadline

(Aug, 2018)

As you may be aware, Medical Liability Mutual Insurance Company (MLMIC) has begun the process of converting from a mutual insurance company to a stock insurance company.  MLMIC recently sent all policyholders a lengthy document (dated June 22, 2018) outlining all of the details of this conversion.  As part of this process, any policyholders of MLMIC between July 15, 2013 and July 14, 2016 are entitled to a payout based on the amount of premiums paid during this timeframe.  In many cases, these payouts will be significant, and are expected to be paid during the 4th quarter of 2018