Automobile & Truck Dealerships

Our dedicated team serves the unique needs of small- to medium-sized, privately-held automobile and truck dealerships.

Learn more
Auto Dealership

Professional Services

We have the experience and expertise needed to help address many of the operational and financial challenges faced by professional service firms. We also partner with attorneys to provide a range of value added services designed to help them serve their clients.

Learn more
Professional Services

Manufacturing & Distribution

We assist a broad range of manufacturing and distribution entities with their unique financial requirements. We maintain the highest quality standards in our compliance work and focus on bottom line results, strategic planning, and asset protection.

Learn more
Manufacturing & Distribution

International Services

Our team of international consultants, tax professionals, and accountants have helped clients from over 30 countries expand into the US. We have also helped numerous US businesses expand outside our borders.

Learn more
International Services
Forms reviewed with magnifying glass

Tax Planning & Consulting, State & Local Tax, Estates, Gifts, and Trusts, and more...

Forms reviewed with magnifying glass
Calculator buttons

Audits, Reviews, Compilations, Bookkeeping & Payroll, and more...

Calculator buttons
Man writing a note

Business Advisory Services, Mergers & Acquistions, Commercial Lease Negotiation, and more...

Man writing a note
Computer screen with graphs

Learn More about Michael Silver & Company CPA's business valuation services.

Computer screen with graphs

Resource Center

Silver Advantage Alerts

Silver Advantage AlertsMichael Silver & Company CPAs provides timely updates on important accounting, tax and consulting developments impacting our clients, as individuals and as business owners.

Silver Advantage Alerts Archive

Monthly News & Information

Tax Alerts

Lawmakers from both parties spent much of June debating and discussing tax reform, but without giving many details of what a comprehensive tax reform package could look like before year-end. At the same time, several bipartisan tax bills have been introduced in Congress, which could see their way to passage.


The much-anticipated regulations (REG-136118-15) implementing the new centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA) have finally been released. The BBA regime replaces the current TEFRA (Tax Equity and Fiscal Responsibility Act of 1982) procedures beginning for 2018 tax year audits, with an earlier "opt-in" for electing partnerships. Originally issued on January 19, 2017 but delayed by a January 20, 2017 White House regulatory freeze, these re-proposed regulations carry with them much of the same criticism leveled against them back in January, as well as several modifications. Most importantly, their reach will impact virtually all partnerships.


With the release of regulations on centralized partnership audits, many taxpayers hope that it will signal the re-start of a regular flow of much-needed guidance from the Treasury Department and the IRS that has been virtually stopped dead in its tracks since January 20. Others caution that the floodgates have not been opened and that the impact of several Executive Orders in discouraging guidance will be felt well into next year. Also bearing upon the recent lack of guidance are the critical vacancies within Treasury’s Office of Tax Policy that have been taking longer than usual to fill.


No. The IRS continues to treat virtual currency as property for U.S. federal tax purposes. However, last year, a government watchdog, and this year, a group of lawmakers, urged the IRS to clarify its virtual currency guidance.


Every year, millions of post-secondary students access the IRS Data Retrieval Tool (DRT) to complete the Free Application for Federal Student Aid (FAFSA). This year, the DRT is unavailable for FAFSA filers because of cybersecurity concerns. The information needed to complete the FAFSA can be found on a previously filed federal income tax return.


As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of July 2017.