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Matthew M. McNelis

Partner, CPA
570 820 0145

Matt has been practicing in public accounting for more than twelve years, assisting clients with an assortment of tax matters. His area of specialization is providing tax services to a variety of small business and mid-market clients, specifically focusing on closely held businesses and related shareholder/ owner tax issues. Matt has extensive experience serving a wide variety of construction, real estate, engineering and other commercial clients. He provides strategic tax applications and techniques, including accounting method changes, fixed asset reclassifications, inventory issues, and guidance on tax accounting issues related to long-term contracts to clients across the manufacturing, distribution, construction, and real estate industries.

Experience

  • S corporations
  • Business sales and acquisitions
  • Consolidated tax returns
  • Limited liability companies
  • Identifying accounting method change opportunities for clients and reviewing accounting method change applications
  • Identifying appropriate long-term contract methods for construction and manufacturing clients and providing guidance on potential application of lookback interest and Alternative Minimum Tax (AMT) adjustments
  • Examining fixed asset records for clients and identifying potential reclassification opportunities to accelerate cost recovery including appropriate methods/ conventions, cost segregation studies, and repairs and maintenance studies
  • Providing technical guidance on tax sections of the Affordable Care Act (ACA) including identifying sources subject to the Net Investment Income (NII) tax and consultation on tax planning to minimize the tax impact of NII to clients
  • Licensed CPA in Pennsylvania

Involvement

  • American Institute of Certified Public Accountants
  • Pennsylvania Institute of Certified Public Accountants

Education

Susquehanna University
Bachelor of Science in Accounting

Continuing Education

  • Tax updates (Internal)
  • Tax sections of the Patient Protection and Affordable Care Act (ACA) – Pennsylvania Small Business Development Council
  • Pennsylvania Educational Improvement Tax Credit (EITC) – various organizations in Central PA