Siegfried Advisory + COVID-19

Valued Clients,

We have been closely monitoring developments around COVID-19. As always, our highest priorities are the safety and wellbeing of our employees, clients, and the communities where we live. We are taking all necessary precautions and encourage all of you to do the same.

In light of continuing developments, we are sharing an important update with all of you. As of today, our employees are generally working from home and have secure, remote access to the resources necessary to perform their responsibilities without interruption and without impacting the security of our clients and their data.

We are closely watching any potential changes to upcoming deadlines and will communicate if anything changes. It is likely that COVID-19 will have an impact on all of us financially. If you would like to discuss your personal long and short-term impact please feel free to reach out to your account representative.

Do not hesitate to contact us with any questions or concerns, but most importantly feel confident that as we follow guidance from government authorities, our team remains fully functional in all aspects.

– Your Siegfried Advisory Team

Celebrating the end of Tax Season!

The Siegfried Advisory team recently came together to celebrate the end of another amazing tax season. This year was filled with clients (both existing and new), Tax Cuts, Jobs Act changes, and adding a few new faces to our own growing team!

We invited our friends (who helped keep us balanced throughout the hectic tax season) from Balanced Athlete, to come together at Urban Axe in Philadelphia. What better to do after months of long hours? Throw Things!!!

It was a great way to rejuvenate, relieve some stress and enjoy great food, drinks and conversation among friends. The entire team was able to break away and participate in some friendly competition, but it was the small and mighty Alyssa that took home the win.

Promotions At Siegfried Advisory

Please join us in congratulating the following team members for well-deserved promotions. These folks have shown alignment to firm and team vision, 5-star client service, overall performance, values and leadership qualities worthy of a promotion.

  • Steve Hutchison, FAS Director
  • Shaun Menkhaus, Tax Manager
  • Brieann Capecci, Level 3 Senior Tax Associate

Congratulations!

Crime and Cryptocurrency: Investors Beware

People are taking about cryptocurrency. And with so much interest in the topic, Siegfried Advisory’s Alyzabeth Smith, along with Judith Herron, CPA, recently published an article on CPA Now, a blog from the Pennsylvania Institute of CPAs. The article, which focuses on cryptocurrency and crimes that could be associated with it, can be found in full here.

Shaun Menkhaus earns Certified Valuation Analyst designation

Siegfried Advisory would like to congratulate Shaun Menkhaus for becoming a Certified Valuation Analyst (CVA)! Through training and rigorous testing, CVAs demonstrate they are qualified to provide capable and professionally executed valuation services. 

The CVA designation is an indication to the business, professional, and legal communities that recipients have met the rigorous standards of professionalism, expertise, objectivity, and integrity in the field of business valuation, financial consulting and litigation, and related consulting disciplines.

How can a CVA help you? Many business owners believe the value of their business is net profit, or gross sales, multiplied by an industry rule of thumb. This is simply not the case. In fact, the application of an industry rule of thumb formula often results in a value determination that differs greatly from the actual value that could be determined by a CVA.

Siegfried Advisory Hosts Semi-Annual Meeting

Our team recently came together in the nearby 1201 Connect Conference space for our semi-annual meeting.  The focus of the day was sharing details about this year’s successes and our vision for 2019. Additionally, we discussed our strategy as it relates to our focus areas of Leadership, Financial, and Tax Advisory, as well as our new focus area: Financial Due Diligence.

Many new faces joined our team in 2018, and it was a wonderful opportunity to have members of Siegfried’s Operations team join us and share information about their areas of expertise and how what they do impacts Siegfried Advisory.

After a busy day of strategic focus. the team relaxed with dinner and compelling conversation.

Updated Guidance on Sec 199A: The Qualified Business Income Deduction

The IRS finally issued its highly anticipated guidance on the new “QBI” deduction through a series of proposed regulations. The most significant detail in the regulations relates to which activities are considered Specified Service Trade or Businesses that may be completely phased-out of the deduction. The IRS includes specific examples of activities in each field that will or will not full under this category.

Click here to read the full article from Forbes.

Siegfried Advisory’s Jeff Osberg Makes a Name in Philly’s Amateur Golf Scene

Our very own Jeff Osberg was recently highlighted in an article in Global Golf Post titled “Osberg Makes a Name in Philly Amateur Scene.” The article, which declares Philadelphia as “one of the best places for a competitive amateur to hang his golf visor,” provides insight from Osberg about the delicate balance between the office, home, and the game.

Read the full article here.

After Tax Season Party

Siegfried Advisory was able to blow off some steam after tax season at The Main Event in Newark, DE. The team was able to relax, enjoy some good food and play some games like shuffleboard, billiards, air hockey, bowling and a pretty competitive game of Laser Tag! Gold Team for the WIN!! What a great way to unwind after the team worked very hard providing great service to all our clients.