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1031: An Overview of Like-Kind Exchanges 

The tax and accounting professionals at Berman Goldman & Ribakow (bgr CPAs) explain why a like-kind exchange may prove to be beneficial when used for business or investing purposes.  What is a “like-kind exchange”? Prior to 1984, 1031 exchanges had to be exact — if, for example, you were selling a single-family home, you must…

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The Benefits of Expense Management: Auto Dealership Guide to Spending Efficiency

Given the cumbersome nature of expense categories in the automobile industry, dealerships must continuously work to maintain internal control in order to efficiently manage these expenses. Here, the experienced accounting professionals at bgr CPAs discuss the process and benefits of managing expenses in an automobile dealership. The Challenge As profit margins tighten, project volumes decline…

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Hammerjacks Selects bgr CPAs As Accounting Firm

Baltimore, Md. (April 7, 2017) – Hammerjacks Entertainment Group announced today that they have selected Berman Goldman & Ribakow LLP (bgr CPAs) as their accounting, tax and consulting service provider. Hammerjacks Entertainment Group is bringing the legendary music venue back to Baltimore under the vision of business partners Kevin Butler and Andy Hotchkiss.  bgr CPAs…

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4 Things That All Restaurants Should Consider: Part Four

The hospitality industry leader at bgr CPAs explains the four practices that all restaurant managers should consider implementing to help combat financial challenges that are common within the hospitality industry. Throughout this series, our hospitality industry leader at bgr CPAs has discussed the benefits of implementing three managerial practices: establishing four-week periods,conducting routine menu costing…

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Our New Website is Now Live!

Providing personalized, full-service accounting, audit, tax and consulting services since 1939, Berman Goldman & Ribakow (bgr CPAs) announces the launch of our new website. Our goal is to equip you with industry insights and news that will help your business thrive, combined with easy access to seasoned professionals who can help navigate the ever-changing laws…

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4 Things That All Restaurants Should Consider: Part Three

The hospitality industry leader at bgr CPAs explains the four practices that all restaurant managers should consider implementing to help combat financial challenges that are common within the hospitality industry. The failure rate of new restaurants is well documented. Lack of monitoring and understanding of performance can be a big contributor to this daunting statistic.…

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Stephen Wolf Featured in the Restaurant Association of Maryland Blog

Stephen Wolf, CPA shares his thoughts on a 28-day restaurant financial reporting with the Restaurant Association of Maryland. To view the article, please click here. bgr CPAs professionals is an Allied Member of the Restaurant Association of Maryland. We have helped clients within the hospitality industry throughout the Mid-Atlantic region. We have assisted restaurants with…

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What to Take Away from the FASB’s Updated Guidance on Lease Accounting

  In 2016, the Financial Accounting Standards Board released an Accounting Standards Update intended as a broad measure to improve financial reporting of leasing transactions. In February, the Financial Accounting Standards Board (FASB) released new guidance on lease accounting, which significantly affects all entities that lease assets.  Representatives from the FASB have maintained that the…

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4 Things That All Restaurants Should Consider: Part Two

  The hospitality industry leader at bgr CPAs explains the four practices that all restaurant managers should consider implementing to help combat financial challenges that are common within the hospitality industry. In Part One, the hospitality industry leader at bgr CPAs explained how implementing 13 four-week periods can provide substantial benefit to restaurateurs. In Part…

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2016 Year-End Tax Planning Guide

  As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next.  One factor that compounds the already complicated planning challenges is the outcome of the Presidential election. We could likely see some significant tax…

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