New Guidance and Election Application for Optional Pass-Through Entity Tax

New Guidance and Election Application for Optional Pass-Through Entity Tax

On August 25, 2021, New York State released guidance regarding the New York State pass-through entity tax (PTET) election which allows owners of pass-through entities (PTE) to receive a federal deduction for the New York State income taxes paid by the PTE.

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Our People

Elizabeth Stapleton, CPA

Elizabeth Stapleton, CPA

Elizabeth Stapleton, CPA is a Manager in the Tax department at Dermody, Burke & Brown. She specializes in trusts and estate accounting, tax and advisory services. As a Tax Manager at the firm, Elizabeth provides tax preparation and consulting to individuals who are creating or revising their estate plans, estate executors and administrators, and grantors and trustees of both lifetime and testamentary trusts.

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Our People

Brennan Kirsche

Brennan Kirsche

Brennan Kirsche joined Dermody, Burke & Brown in 2016 as a Network Administrator in the Information Technology department.  He has over five years of experience in the IT industry working for professional service and computer service companies. He is experienced in hardware and data recovery, basic network setup, and server maintenance. 


Brennan received a Bachelor of Science Degree in New Media Interactive Development from Rochester Institute of Technology.

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Natasha Newbury

Natasha Newbury

Natasha is an Audit & Accounting Manager with Dermody, Burke & Brown. She has been with the firm since 2008 and specializes in financial institutions, single and multi-employer plans, manufacturing, and nonprofits.  Natasha received a Bachelor’s Degree from State University of New York at Oswego. 

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Chris Hannan

Chris Hannan

Chris Hannan joined Dermody, Burke & Brown as the Director of Information Technology in 2004 and was the firm’s IT consultant for six years prior to his start. He is an Information Technology expert with over 20 years of experience in the electronic industry. His background includes Network Engineering, Design, Auditing, Forensic Analysis, Communications and Security.

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Leonard Gerber, CPA/ABV, CVA

Leonard Gerber, CPA/ABV, CVA

Leonard E. Gerber, CPA/ABV, CVA, has been with Dermody, Burke & Brown, CPAs, LLC since 1997. He specializes in providing litigation support for matrimonial proceedings. He has been retained to provide valuation services and tax advice in litigated matrimonial proceedings, the divorce mediation process and the collaborative law process. In addition, Leonard has prepared numerous business valuations for estate and gift tax purposes.

Company Pandemic-Related Financial Statement Transactions

Company Pandemic-Related Financial Statement Transactions

After spending the past year wrestling with the financial impacts of the COVID-19 pandemic, companies that are required to prepare audited financial statements must now address a new challenge: deciding how to report and disclose certain pandemic-related transactions and risks on their financial statements.

Financial officers will need to work closely with their auditors to prepare statements that auditors can endorse without qualification. Here are several areas that merit special attention.

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