Rick serves as Senior Counsel at The Bonadio Group, specializing in tax and financial issues high-net-worth individuals face. He is also highly experienced in transactions involving flow-through entities, including the structuring and formation of agreements involving limited liability companies and S corporations. Where appropriate, he has included the use of trusts in the formation and design of these flow-through entities with the goal of achieving the targeted result defined by the clients he serves.
Rick has over 45 years of experience as an accountant and provides financial planning advice for our clients. His focus is serving clients in the Construction and Real Estate Industry. He counsels them on consolidations, mergers, business sales, and the implementation of tax strategies for closely held businesses and their owners, including estate planning and the transition of family-owned businesses to the next generation. He has presented seminars and written articles on topics including the Affordable Care Act, The Loophole Available for Owners of “S” Corporations, tax law changes, tax planning, estate planning, business transition strategies, personal financial planning, and health care reform.
Rick was and is still recognized as a subject matter expert on the 2017 Tax Cut and Jobs Act (TCJA), focusing on maximizing the benefits of IRC 199A and minimizing the impact of the business interest limitation imposed as part of TCJA. Additionally, during COVID, he became the subject matter expert on the qualification for PPP loans and their forgiveness and the Qualifications for obtaining the benefits of the Employee Retention Credits (ERCs) that were a part of the CARES Act. He conducts presentations and seminars to a wide range of business organizations and community groups to explain the provisions and implications of the new law. Rick clarifies that this complicated issue affects taxpayers in many different situations. Publications frequently interview Rick for his tax and financial advice, and he has represented tax matters before the Internal Revenue Service and the New York State Department of Taxation and Finance.
Rick is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). Rick is a graduate of Niagara University with a degree in business administration and accounting.