CG Business Advisor: Recent Episodes
CG Tax, Audit & Advisory
Cg Business Advisor tackles the important issues affecting businesses and individuals right now. In our twice monthly episodes, we bring in industry experts to discuss topics ranging from tax implications on new (and ever-changing) legislation, cybersecurity in a post-pandemic world, marketing in a virtual environment and beyond
Mike Lewis, FACMPE, MBA, is a former Partner in Cg’s Healthcare Services Group and is now a serving a Director after his partial retirement in 2025. Mike is a healthcare professional with over 45 years of experience in the industry. Prior to joining the firm, he spent 27 years as a senior healthcare executive bringing a wealth of knowledge in medical practice management to Cg Tax, Audit & Advisory. Mike is a recognized expert at identifying opportunities and solving challenges within medical practices, allowing doctors to focus on delivering patient care.
Today’s guest is Roshani Kumar, Founder of RS Kumar Advisors and a trusted Business Growth Advisor for service-based companies ready to scale with clarity. With more than a decade of corporate transformation experience, Roshani brings enterprise-level strategy and operational discipline into the small business world. Drawing on her background in driving large-scale change and improving performance, Roshani partners with both business owners and their trusted advisors to create sustainable, smarter growth without burnout.
This year on The CG Business Advisor, we welcomed an incredible lineup of guests who shared transformative insights on marketing, operations, finance, and leadership. As we look back, four conversations stand out for the actionable wisdom they delivered. Listen to clips from 4 great episodes featuring:
Larry Bailen, Founder & CEO, Single Throw Marketing
Ross Stockdale, Fractional CMO & Host of The Thunderstock Show
Angela Lapovsky, Founder, ARL Elevate & Fractional COO
Jennifer Flynn, VP of CPA Partnerships, Source Advisors
Larry Bailin is the founder and CEO of Single Throw Marketing. Among Larry’s achievements, he is an award-winning entrepreneur, a best-selling marketing author and a professional keynote speaker. For over 20 years, Larry and his talented team at Single Throw have provided innovative customer acquisition focused digital marketing services designed specifically to create an ROI and beat every competitor, for hundreds of regional, national, and global brands.
In this episode, we are joined by returning guest Jennifer Flynn and Cg’s very own Cg Team John Blake to discuss Research & Development Tax Credits and its new updates from the One Big Beautiful Bill Act.
○ Jennifer Flynn is the Vice President of CPA Partnerships at Source Advisors, a consulting firm that provides customized tax solutions to real estate owners, multi-state enterprises, inventory-focused companies, and businesses with R&D activities. For 20 years, she has consulted businesses in a variety of industries and sizes. Source Advisors and Jennifer aid clients through their diverse business solutions and industry leading expertise.
○ John Blake, CPA, MBA, is a Director in Cg Tax, Audit & Advisory’s Tax Services Group with over 20 years of public accounting experience. He works closely with mid- to large-sized clients on a wide range of tax matters, helping them achieve financial goals and plan strategically. His expertise spans closely held businesses, LLCs, partnerships, and individuals.
Ross Stockdale helps Small Business B2B Service Companies increase their net profit without breaking the bank in 12 months or less as their Fractional CMO. He creates and executes winning marketing strategies to increase profit and decrease time and headaches. He's also a fellow Podcaster!
Angela Lapovsky, a seasoned business strategy and operations consultant and Fractional COO with over 15 years of experience driving transformational change and sustainable growth. As Founder of ARL Elevate, Angela helps organizations and teams across a variety of industries translate the vision for their business into reality by helping them solve complex business problems and creating a business strategy to target those challenges. Angela specializes in enhancing operational effectiveness, leading change initiatives, and empowering leadership teams through Fractional COO support, project-based services, and as a strategic advisor. Drawing on her deep expertise across Fortune 500 companies as well as small businesses, Angela brings a collaborative and results-driven approach to navigating organizational shifts
Jennifer Flynn is the Vice President of CPA Partnerships at Source Advisors, a consulting firm that provides customized tax solutions to real estate owners, multi-state enterprises, inventory-focused companies, and businesses with R&D activities. For 20 years, she has consulted businesses in a variety of industries and sizes. Source Advisors and Jennifer aid clients through their diverse business solutions and industry leading expertise.
Aaron Levine is the founder and owner of LG Insurance Agency, a team of professionals who provide personalized and reliable insurance solutions to individuals and businesses in New Jersey. For 18 years, Aaron has built LG Insurance on the values of trust, integrity, personalization, and community. He has further built his community through his podcast, “Who You Work With Matters, where he discusses important topics affecting the insurance industry and beyond.
Welcome to the CG Business Advisor Podcast's 2024 Year in Review! This year, we’ve seen transformative conversations on business leadership, automation, and community impact.
We kicked off with a look at intelligent automation, with Alan Hester from Nividous Software, who discussed how AI and robotics are streamlining operations.
As we look forward to the future, talent acquisition expert Gene Holtzman discussed how businesses are innovating their approach to recruitment, ensuring success in a competitive job market.
In the nonprofit space, Lunch Break’s Gwendolyn Love and Jill Gwydir detailed their mission to provide essential services to communities in need. Meanwhile, Eric Lubin introduced the inspiring “Lil’ Heroes for Hope” gala, raising funds for children with rare diseases and Kyle Dunleavy of CURE Auto Insurance reminded us all of the importance of community engagement, as he worked toward a world without blood cancer, fundraising for the Leukemia & Lymphoma Society.
On a personal level, we welcomed Deb Sundermann as CG's new Managing Director. She brings extensive experience, focusing on advisory and healthcare services, setting the stage for new leadership.
Thank you for being part of our journey in 2024. Stay tuned for more insights in the year ahead!
Alan Hester is an entrepreneur and leader with proven success in the tech field for over 25 years. He is the president of Nividous Software Solutions, a company passionate about helping businesses work at peak efficiency using three pillars of intelligent automation: robotic process automation, artificial intelligence, and business process management. Alan’s previous experience with companies such as Xerox and Freedom Mortgage have contributed to his accomplishments as a member of the leadership team at Nividous.
Gwendolyn Love and Jill Gwydir are both members of the leadership team at Lunchbreak, a New Jersey nonprofit that provides food, clothing, life skills, and fellowship to those in need. Gwen, the current Executive Director of Lunch Break, was previously the community director for a partnership between the Township of Neptune, New Jersey and the state’s Urban Coordinating Council that helps communities in need of revitalization. Jill, has also worked for many non-profit organizations, such as the YWCA of the City of New York, and the Multiple Sclerosis Society. Both Gwen and Jill’s passion for community outreach combined with the support of an incredible staff, Board of Directors, volunteers, and donors has helped Lunch Break provide residents of Monmouth County and beyond help for today and hope for tomorrow.
Eric Lubin is the Co-Managing Partner at Lomurro Law and a member of the Spring Lake Hope Foundation Board of Advisors. The Spring Lake Hope Foundation is a nonprofit organization that helps children with rare illnesses and special needs. Individuals and companies have the opportunity to support these “Lil Heroes” and become members of a project known as “Lil Heroes for Hope”. The companies and individuals fund the project by contributing annually to the foundation. On August 1st they are hosting an “Under the Stars” gala to raise money for the foundation and their “Lil Heroes for Hope” project.
https://www.springlakehopefoundation.org/
With more than 10 years’ experience in corporate recruiting, Kyle Dunleavy is a Senior Recruiter at CURE Auto Insurance. He recently became involved with the New Jersey Chapter of the Leukemia & Lymphoma Society as a 2024 ‘Visionary of the Year’ candidate, and is working with his team towards building a world without blood cancer.
March is Woman’s History Month, and last week, the world came together to celebrate International Women’s Day and all the talented, determined, and compassionate women in our lives. During Women’s History Month, we commemorate the extraordinary, inspiring, and lasting impact woman have left on society. Today, Danielle Bagdzinski and Abbie Lohrmann of Cg’s marketing and recruitment team, are going to discuss the origin and history behind International Women’s Day, this year’s theme, who inspires them, and much more.
Gene Holtzman is the President of Mitchell Martin, Inc., a recruitment agency he founded in 1984. For over 30 years, Mitchell Martin has been a distinguished recruitment organization consisting of over 100 professionals who build talent pools of pre-qualified candidates for companies in the information technology, professional services, and healthcare industries. Gene has built his business around the philosophy of not just filling jobs, but enabling growth and inspiring success for his clients.
After co-founding Cg Tax, Audit & Advisory more than 40 years ago and bringing the firm to an extraordinary level of success, Don Cowan, is turning over the role of managing director to Deb Sundermann.
Deb joined Cg in 1996, and has focused her accounting career on advising healthcare professionals and physicians in a multitude of areas. Deb is also a member of several boards and organizations including the Meridian Health Professional Care Committee, Hackensack Meridian Health Foundation, and CPC Behavioral Healthcare.
The Cg Team is thrilled to welcome Deb into this new role and looks forward to sharing a little more about Deb, her experience, and what’s she’s looking forward to.
On this special year end episode, we highlight our most listening to conversations of 2023, featuring Tina Larsson, the co-founder and owner of The Folson Group, talking about how to Build a Business With What You Know, Alyssa Gelbard, the Founder and CEO of Point Road Group, telling us Your Team is Your Brand, and Janet Falk, explaining how to to Create & Monitor Your Marketing RBI.
Tim Campsall is the owner of TBC ActionCOACH of Indiana, and serves as a business and executive coach for successful business owners who want to take things to the next level. At TBC ActionCOACH, Tim teaches business owners how to get back their time, find and retain good employees, and make more money. Using the experience he gained as a professional in corporate business, and as a business owner himself, Tim is able to relate to his clients and guide them on a path to success.
The United Way of Monmouth & Ocean Counties (UWMOC) is a New Jersey nonprofit organization that bridges the gaps to education, financial stability, and health for every person in the community. On this episode, we have Lori McClane, UWMOC President and CEO; Christine Jagerburger, UWMOC Vice President of Community Impact; and Patti Harvey, UWMOC Vice President of Engagement to discuss their mission, vision, and the important work UWMOC does to better the community.
Eric Balis is the Fractional VP of Sales and Founder of Top Tier Sales Advisors, focusing on building businesses a roadmap to more sales and increased success. Eric helps business owners create sales infrastructure components and sales leadership, often leading to record-breaking sales results for his clients.
Ryan Charterina is a Professional Entrepreneurial Operating System® Implementer® at EOS Worldwide, serving as a facilitator and coach to business owners. Using EOS, Ryan provides the tools and disciplines necessary to run a better business, so business owners can live better lives. As an entrepreneur himself, Ryan brings firsthand experience and knowledge to the table allowing him to connect with his clients and lead them on the best possible path to success.
Rick Lasher is the owner of Medical And Legal Liaisons, as well as a partner at Buitrago & Associates PLLC. He assists personal injury and workers compensation victims with all of their legal and medical needs. MALL works with the best attorneys and physicians as a one stop shop for all individuals who have recently faced a traumatic incident.
Alyssa Gelbard is the Founder and CEO of Point Road Group, a women-owned and women-led unique branding firm that helps companies deliver a consistent, positive brand experience through their people. In addition to oversight of the firm, Alyssa advises select companies, leads the Executive Branding practice, and is a fierce advocate of getting more women into the C-suite and boardroom. As an experienced speaker, Alyssa loves discussing the power of personal branding, communicating with impact, preparing effectively for a board search, and leveraging LinkedIn.
Frank Preston is the President of ACI Medical & Dental School, one of the top technical schools in New Jersey offering a variety of programs in the in-demand medical and dental industries. Their model is to provide first-rate training for medical and dental professionals while achieving national accredited credentials quickly so students can pursue opportunities for employment right away.
Tina Larsson is the co-founder and owner of The Folson Group, a business consultant for New York City co-op and condo boards, helping owners increase their property value. Tina focuses on helping boards run their building like a business with services including cost management, energy efficiency, and assistance with changing property managers.
Janet L. Falk, Ph.D. has more than 30 years’ experience in public relations and marketing communications specializing in advising business owners, attorneys, and consultants on strategy for client acquisition, news coverage, and revenue growth.
Earlier this month, the Cg Team announced that accounting firm, Potter & LaMarca would be joining Cg. Today, we’re going to hear from two of the founding members of Potter & LaMarca and newest additions to the Cg Team.
Fred LaMarca focuses on tax planning and financial consulting for clients in the professional services, staffing companies, and real estate industries, and holds various securities and insurance licenses. Fred is a past president of the Staten Island Chamber of Commerce and past president of the Staten Island Chapter of the New York State Society of CPAs.
Jeff Potter specializes in accounting and financial consulting services to the construction, real estate, and restaurant industries, and holds general securities, insurance, and investment advisor representative licenses. He is a past president of the Staten Island Chapter of the New York State Society of CPAs.
Michael Oberther is the Director of Business Development for Supporting Strategies, outsourced virtual bookkeepers and controllers providing operational support services to growing businesses. He also runs and hosts YouTube Channel, “Hard Lessons,” a place where business professionals share stories and insights about tough challenges faced and lessons learned in the business industry.
Jeff Harris founded JMJB Merchant Solutions to help business owners find the best technologies and options to get paid. Jeff and his company provide transparent payment solutions through relationships with multiple credit card processors and a variety of gateways to connect you to your customer.
Nick Yarnall is the Associate Manager for Client Development at Ben Franklin Technology Partners of Northeastern Pennsylvania. Nick supports and manages BFTP’s Solutions Network across 21 counties in Pennsylvania, providing a wide range of early stage companies and established manufacturers with essential consulting, service providers, and other growth opportunities.
Amy Cowley is the Director of Talent Acquisition & Team Member Success for Cg Tax, Audit & Advisory. She has extensive experience in staffing and retention, employee engagement, and compensation management.
Andrea DeMarchi is co-founder of InCreative Company, a creative agency/collective hybrid that's made it comfy to connect with creatives and their services. Andrea’s expertise is leading projects involving brand strategy, web design, copywriting, social marketing, and event promotion. She’s a skilled project manager with in-house marketing expertise and has branded networking communities, podcasts, restaurants, coaches, legal professionals, and more.
It's been 2 years of podcasts for the CG Business Advisor. On this special anniversary episode, we look back and some of our more recent successful episodes.
Josh Damigo is the Client Manager for the Western Hemisphere for Influential U - the leading business education in Transactional Competence. He has been a small business owner, worked as a corporate leader, and helped small businesses for over 15 years. He is an accomplished speaker and teacher, podcast co-host, and has become a sought-after Master of Ceremonies throughout Ventura County, California.
Gregory Jerome is an award-winning entrepreneur and personal stylist assisting ambitious individuals, professionals, and corporations with creating authentic sartorial brands for success. Gregory offers services including consulting, personal shopping, closet audits, wardrobe set, personal styling, custom garments, and workshops.
Laura Crothers Osborn is a consultant, coach, author, speaker, and Human Resource expert. She founded Crothers Consulting in 2010 to support leaders in achieving organizational and strategic clarity. Drawing on her 30 years’ experience in HR, she has successfully guided business leaders and HR executives, providing a clear vision as they face the many challenges associated with growing their company or engaging in mergers or acquisitions. Laura’s candid, down-to-earth approach allows her to connect quickly and deeply with people. Over the past 10 years Crothers Consulting has had extraordinary growth and she now leads a team of over 20 HR and coaching experts serving the small and middle markets.
Steve McKeon is the founder and CEO of MacGuyverTech with over 25 years of experience in the technological world. Steve’s philosophy on software has been a guiding lens for MacGuyverTech. He believes that no company should have a “cookie-cutter mold” system; each company is unique and requires a fully customized software to fit their specific needs. Steve also has a fiery passion for blockchain. With the emergence of this new technology, Steve is able to integrate it into a lot of different projects. The applications for blockchain are almost unlimited and Steve has the knowledge to propose the best application of blockchain technology to the system to fit a company’s needs.
Ginny Hill is the Chief Executive Officer of the Girl Scouts of Central & Southern NJ. She’s a leader on National Task Forces working to strengthen the Girl Scout organization including serving as Co-Lead of the Network Alignment Steering Committee, member of the OneGS Media Advisory Group, and member of the National Cookie Task Force which oversees Girl Scouting’s $900 million cookie program.
Christine Matus, Esq. is a top special needs lawyer in New Jersey. At The Matus Law Group, Christine and her dedicated team of professionals and special needs attorneys focus on providing exceptional legal advice in the areas of special needs planning, elder law, real estate law, and estate law. Special needs trusts are powerful estate planning tools for many families. Christine creates these special needs trusts in order to keep assets private and to protect the needs of clients’ loved ones.
Jacqueline Schinnerer rejoins the Podcast to talk about the Financing Process. Jackie is the founder of Commercial Capital Solutions, LLC and specializes in start-up capital, tax credit finance, franchise finance and microloans, impact lending, commercial owner occupied and investor real estate, business acquisitions, and much more. Jacqueline has a passion for helping businesses succeed, grow, and plan for what’s next.
After twenty years in commercial banking Jacqueline Schinnerer started Commercial Capital Solutions, LLC. Jacqueline was a Senior Vice President specializing in business development, credit structuring, relationship management, and leadership. She comes from a family of entrepreneurs and has a passion for helping businesses succeed, grow, and plan for what’s next. With the current market challenges and opportunities, real estate investors and businesses will need guidance more than ever. Jacqueline and Commercial Capital Solutions are efficient, effective, have a robust network, and know how to navigate the ever-changing landscape of accessing capital.
Gregory Klein-Hertzel is the Founder & CEO of ConnectivTech, and specializes in matching your business with the right technology. Through in-depth analysis, ConnectivTech vets technology companies that offer different business solutions, looking for good tech and good prices, but most importantly, great people behind the technology. After careful and thoughtful conversations, ConnectivTech matches the pre-vetted technology companies with the businesses they work with, taking time to learn the blueprint of every business they advise in order to connect that business with the right technology.
Michael Goldberg has helped financial advisors, brokers, agents, reps, wholesalers, and other sales producers add hundreds of thousands of dollars to their bottom line. His firm Knock Out Networking, LLC is renowned as a speaking and training resource in the financial services industry. Described by clients as “dynamic and motivational”, Michael is a master at invigorating and engaging audiences. His knock-out style is “in your face” and high energy. His content is real world and can be applied immediately. Michael speaks at conferences and associations, runs sales meetings, and delivers results driven programs on networking, referral marketing, and sales presentations.
Why is it important to understand debt structure and how can you use debt as a part of your financial planning? Since 2003, Anthony Villanova has owned and operated Villa Nova Financing Group LLC. He’s a certified mortgage planning specialist focusing in residential, as well as commercial lending. Anthony is licensed in NJ, NY and PA, and operates his company as a boutique operation with an emphasis on service. Anthony also provides lending services for small business assistance, factoring, and equipment leasing, and specializes in debt structure and cash flow analysis for individuals and businesses.
For as long as he can remember, Sean Boyce has been passionate about products. From taking apart widgets as a kid (most of which went back together) to building and launching software product companies, Sean has always been fascinated about products. That’s why he founded NxtStep Consulting to help companies bring a product to life. NxtStep Consulting supports customers with creating a product roadmap, selecting and prioritizing features, engineering an effective user experience, and executing effective product marketing.
Happy New Year from all of us here at the CG Business Advisor. 2021 was a crazy year, but we were thankful to be able to provide some great information to our listeners. In this episode, we highlight some of the best conversations from 2021 including topics like Blockchain & Crypto, Financial Acumen & Business Growth Strategies.
Jane Romanowski is a Business Technology consultant at ADP and thoroughly enjoys building partnerships with business owners to help them find the best solution for their Human Resources and Payroll needs. From analyzing a current system, consulting a newly formed business, providing insight into changing government regulations, or leveraging relationships with accounting professionals, Jane helps business owners do what they do best—focus on their customers, not their HR headaches. Dominic Bellfield is a Workforce Management Consultant at ADP, and a true results-driven, track proven sales professional with a passion to consult and educate companies. At ADP, Dominic’s goal is helping companies build a strong and productive workforce by implementing ADP’s cutting edge solutions. Dominic specializes in companies with rapid growth, disparate HR systems, and mergers & acquisitions. He ultimately positions companies in building a competitive advantage through Human Capital Management.
Erin Hoffman is a financial planner with a sincere desire to help people both professionally and personally. She helps build her clients’ financial confidence through educating and empowering individuals, business owners, and families on how to grow, accumulate, and distribute their assets and exit their businesses from a holistic approach.
Anthony Graziano is the Executive Director and Director of Litigation Services for Integra Realty Resources Coastal, NJ, a full‐service real estate organization located in Toms River, NJ. Tony has been actively engaged in the real estate industry since the late 1960’s, and has completed valuation and consulting assignments on all classes of investment grade properties including: shopping centers, office buildings and parks, industrial buildings, large‐scale manufacturing complexes, hotels, motels, and mixed use properties.
In his role as Vice President at SES ESOP Strategies, Chris Coates advises companies, owners, and other stakeholders on business transition strategies, with a particular focus on Employee Stock Ownership Plan transactions. He has extensive deal shaping, negotiation, and operational management experience that provides him unique perspective on the opportunities and challenges of companies seeking to implement an ESOP.
Danielle Bagdzinski & Gina Hippe talk all things Halloween in this special episode. Danielle is the marketing manager for Cg Tax, Audit & Advisory. With more than 15 years’ experience in marketing, advertising, and public relations, Danielle manages all communications; digital/print marketing; social media; and branding for the firm. Gina Hippe is a paraprofessional in Cg Tax, Audit, & Advisory’s Litigation & Valuations Services Group, specializing in forensic accounting, cash flow and lifestyle analysis, asset tracing, and more.
Mark Iorio is the Founder and President of The Mega Group, a communications consulting company that shows you how to align your people with your purpose. Mark has been involved in brand and culture alignment, marketing strategy, planning, and implementation for his entire career. He is a former board member and the marketing liaison for a very successful privately held company in NJ, and serves on or chairs multiple nonprofit boards.
Jacob Krakower is an assistant vice president with Brown & Brown Metro. Brown & Brown Metro is an insurance intermediary specializing in managing risk for all clients. Jacob assists with all insurance line items, ranging from employee benefits to property and commercial lines. He makes sure the strategic plan aligns with the client’s business model and is a multi-year program.
Christopher Frey, founder and president of Crowd Funding NJ, Inc., has significant experience in the entrepreneurial, start-up, and growth company business community. Leveraging diverse financial, business optimization, and accounting expertise to a variety of entrepreneurial, technology, and market-making businesses, Chris’ more than 25 years of progressive experience has enabled him to significantly impact profitability and growth objectives for organizations he has partnered with.
Len Garza is a corporate attorney focusing on start-up companies, emerging companies, and the middle-market. He helps structure businesses to optimize growth and protect their assets. Len also has extensive experience in drafting and negotiating a wide variety of business agreements including those with shareholders, vendors, clients, partners, and more. He also handles other types transactions including real estate, banking and finance, and wills and trusts.
Anthony Turano & Christopher Raykowski of Cg Tax, Audit, & Advisory join the podcast to share tips and expert opinions on how you should start and grow your business.
CG Interns Tiffany DeMonte and Dean Smolokoff join the show to talk about important financial issues facing College Students and other young adults.
Anna Masker and Mel Comer from ProfitLinq join the show to talk about the impact of Blockchain and Cryptocurrency on the business world. ProfitLinq provides CFO, Controller, and Accounting services to clients in the Blockchain and Crypto space.
As a co-founder of Talent Strategy Partners, Pat Schaeffer works with organizations' senior executives to build and maintain a robust leadership pipeline through succession planning and leadership development. Fundamental to this expertise is her ability to create behavioral roadmaps to reinforce company culture and enhance organization effectiveness. Pat is a frequent speaker and has written articles on organization culture, leadership development, succession planning, and professional networking.
Joe Worth joins the Podcast to talk about exiting a business. Joe is a B2B CFO® Partner, with an interest in helping the owners of privately-held businesses reach their goals, both personal and business.
Jarrett Farrell of Cedar Risk Management joins the show to explain Blockchain Technology and its insurability.
Al Lenac, founding member of Manufacture Results LLC, joins the show to talk about the State and Federal Research & Development Tax Credit.
Thomas A. Bracken, President and CEO of the New Jersey Chamber of Commerce, joins the show to talk about the current business climate in the state of New Jersey. What issues are impacting the business community and what does the future of New Jersey business look like?
Stephen Reed, a Shareholder in Cg Tax, Audit & Advisory’s Core Services Group, discusses April Fools' Day.
The purchase of a company can be a great opportunity, but there is much to consider and learn before signing a contract. Your due diligence now can save you many headaches down the road. Elements like financial data, organizational structure, and company assets – just to name a few – all come into play in determining your future profitability and growth potential. Eric Lubin of Lomurro Law & Walter Szymanski of Everingham & Kerr join the Podcast.
The sale of any business is a complex endeavor that requires careful planning and many considerations. Your potential profit depends on the business structure, reasons for selling, company operations, timing, and more. Eric Lomurro of Lomurro Law and David Gates from Gates and Company join the Podcast to provide the crucial information you need to have when preparing to sell your business including financials, company valuation, succession planning and exit strategies, as well as legal aspects to consider.
CG Business Advisor Podcast
With Scott Seidenberg
Guests: Christopher Raykowkski, CPA
Michelle Marston, CPA, Supervisor
Intro
When it comes to claiming tax deductions, it’s all about getting it right. On this episode of the Cg Business Advisor Podcast, Scott welcomes Christopher Raykowski and Michelle Marston, two seasoned Cg Tax, Audit and Advisory professionals, to help decipher the difference between taking advantage of every deductible opportunity and going too far. You’ll get accurate answers to common questions about personal and business write-offs to which you’re fully entitled.
Along the way, Michelle and Christopher share stories about some wild scenarios – write-offs perhaps initially rejected by the IRS that have since become settled case law.
Is food for the cat you use to manage pest control at your junk yard a legitimate business expense? (Yes!)
Can a dad who is managing and promoting his son’s burgeoning off-roading career write off the cost of parts, fuel, food, entry fees and other expenses? (Yes!)
How about the specialty oil a body builder uses in competition (Yes!) or the beer you purchase to attract customers into your establishment? (Yes!)
Any reason an entrepreneurial mom shouldn’t write off the cost of raising a child who contributes a “cuteness” factor to her business? (Uh, not so fast.)
Enjoy these real-world examples as well as important nuts-and-bolts information about the deductibility of medical expenses, home offices, child care and travel. Scott and his guests give you the scoop in this info-packed episode – with the caveat that everyone’s personal and business profile is unique, so always check with your tax-planning professional.
Key Takeaways
Personal Deductions:
What about our family’s medical expenses? Are they deductible?
Taxpayers may deduct eligible expenses, based on a threshold established annually by the IRS.
For 2020, your total medical expenses would have to exceed 7.5% of your adjusted gross income (AGI) before an itemized deduction will apply.
New Jersey listeners only: The state’s threshold is an exception at 2%!
Qualifying medical expenses cover a broad spectrum. To find out which: Pub. 502 on the IRS website. (Link below.)
Based on case law, music lessons, gym memberships and swimming pools can (at least in part) qualify as medical expenses. Worth doing the homework!
Can child care expenses be written off?
A woman who needed babysitters to watch her children while she did volunteer work pressed the case and prevailed. The IRS has not, 40 years later, removed this unusual charitable tax deduction.
Military tax benefits to know about.
Combat pay is either partially or fully income tax-free for active duty service members.
Additionally, that same income can be used as earned income to achieve a greater refund.
Those in military service who relocate for work-related reasons can deduct all expenses (a tax advantage no longer available to civilian taxpayers).
Are gambling/sports betting debts deductible?
Losses may be deductible, but only to those who itemize on Schedule A.
“Casual gamblers should be aware that the IRS does offer a deduction of losses but only to the extent of the winnings.” -Michelle (11:55)
Keeping detailed records of winnings and losses is essential.
This benefit is only for amateurs – not professionals.
Business Deductions – the baseline definition matters!
A business expense must be both “ordinary and necessary” in order to be written off.
“In my short career I’ve seen many a taxpayer try to deduct something that wasn’t supposed to be deducted and we’ve corrected and informed them of...
The Monmouth-Ocean Development Council, in conjunction with Cg Tax, Audit & Advisory, conducted a Business Outlook Survey of companies and organizations doing business in Monmouth and Ocean counties from October 30, 2020 through December 4, 2020. Don Cowan, managing partner at CG Tax Audit & Advisory and Danielle Bagdzinski, marketing manager for Cg Tax, Audit & Advisory join the Podcast to review the results.
Eric Lubin, Esq. of Lomurro Law joins the Podcast to talk about the most effective business structure and some pitfalls to avoid when starting a business.
New Years resolutions can be hard to maintain. How do you stay motivated as the calendar shifts to 2021? Stephanie Franolich & Melissa D’Amelio from Force Fitness join the show for some helpful tips.
Matt Siegel of Millstone River Wealth Management joins the podcast do discuss the outlook for 2021, and how businesses and individuals should be planning for the new year.
Carol Egan and Stephen Reed from CG Tax, Audit & Advisory, discuss the impact of PPP loans on accounting policy and financial statements for Nonprofits.
There is a lot to dissect with President Elect Biden’s proposed tax plan. Don Cowan and Mike DeMola join the podcast to go over post-election tax strategies.
Anthony Turano and Carol Egan of CG Tax, Audit & Advisory talk about how commercial businesses(for profit) should handle their financial statements and accounting after receiving a PPP loan.
We’ve all been hit hard by the Covid-19 Pandemic. But how can small to medium-sized businesses use this time as an opportunity for growth? Steven Frey of Extensis Group tells us how.
Robert Micari, Sr. Principal- Security Risk Management at Verizon, joins the podcast to discuss the importance of Cyber Security.
With many employees returning to the workplace, Employment Attorney Tracy Armstrong joins the Podcast to explain the parameters during the pandemic as well as new legislation.
The Pandemic has changed the way we market our businesses. CG Marketing Director Danielle Bagdzinksi and Davidson Hang of LinkedIn talk about the best way to maximize your reach, given the new circumstances surrounding us all.
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes numerous provisions to help affected businesses and individuals weather the COVID-19 pandemic. Cg Business Advisor Hosts discuss how to navigate the tangled CARES Act web with Cg Tax Partner, Michael DeMola.
Cg Business Advisor tackles the important issues affecting businesses and individuals right now. In our twice monthly episodes, we bring in industry experts to discuss topics ranging from tax implications on new (and ever-changing) legislation, cybersecurity in a post-pandemic world, marketing in a virtual environment and beyond