UHY Adds Tax Leaders in Houston

UHY Advisors, Inc., (UHY), one of the nation’s leading accounting and professional services firms (based in Farmington Hills), announces that Matt Martina, CPA, and Todd Sutherland, J.D., LL.M. (Taxation), have joined the team as tax leaders working out of UHY’s Houston Office.

Matt Martina has joined as Managing Director of International Tax Services. He provides international tax services to clients in Houston, as well as nationally. He has more than 25 years of experience in international business planning and tax consulting. Martina contributes to client service areas including structuring, due diligence, transfer pricing, IP migration, regulatory compliance (including FCPA), M&A advisory and tax optimization. He has extensive experience with complex cross-border tax planning projects.

Martina has a Bachelor of Science degree in accounting from St. Francis University.

Sutherland is new to UHY as the Director of the Research and Development Tax Credit practice. He has over 20 years of experience assisting taxpayers with claiming R&D tax credits, as well as extensive experience in defending R&D tax credit claims under IRS examination. Sutherland specializes in a number of industries including energy, manufacturing, chemical, biomedical, engineering, and contracting.

Sutherland has a Bachelor of Science degree in accounting from Millsaps College, a LL.M. in Taxation from University of Miami School of Law, and a J.D. from Mississippi College School of Law.

About UHY LLP and UHY Advisors
UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities.

UHY Advisors, Inc. and UHY LLP are US members of UHYI, a UK company, and form part of the international UHYI network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHYI international network. Any services described herein are provided by UHY Advisors, Inc. and/or UHY LLP (as the case may be) and not by UHYI or any other member firm of UHYI. Neither UHYI nor any member of UHYI has any liability for services provided by other members.

UHY Study Shows Homebuyers in the US Have Some of the Lowest Rates of Property Tax in the World

Homebuyers in the US have one of the lowest rates of property tax in the world, at just 0.35% compared to the G7 average of 3.6%, shows a new study by UHY, the international accountancy network.

UHY’s study shows that a homebuyer in the US pays just $529 on a purchase of a home worth $150,000, compared with the G7 average of $5,361 (see table below).

UHY Advisors, UHY’s member firm in the US, says that low levels of property transfer tax in the US play a vital role in increasing labor market mobility and growing the economy. High levels of property transfer tax can discourage people from moving for work, as they will be forced to pay a substantial tax bill on the purchase of a new home.

For higher-value properties, tax in the US system is marginally higher at 0.37 percent on the purchase of a property worth $1 million, and 0.39 percent for a property worth $2 million.

UHY calculated an average property transfer tax rate in the US using state and city rates in place across the country – from the zero rates in Texas and Utah to the 1.5 percent and higher rates in New Hampshire and Delaware.

The US charges far lower taxes on a $150,000 property purchase than other major G7 economies such as Japan (11 percent) and France (6.7 percent). The average tax charged worldwide on the purchase of a home worth $150,000 has now reached 4.51 percent – a cost of $6,771 even for a relatively modest home.

UHY says that the cost to Governments worldwide of the coronavirus pandemic could result in pressure to increase property taxes in the coming years. A combination of lower tax revenues and expensive economic stimulus measures will leave many countries with major budget deficits that will need to be addressed.

UHY Advisors explains that the US does not have a federal system for taxes on property purchases, allowing states and cities to set their own rates. While most have kept rates low at under 0.5 percent of the property’s value, some locations have begun to levy higher taxes.

Homebuyers in Washington D.C. are taxed at the highest rates in the country on their property purchases. Someone purchasing a home in the US capital is subject to a levy of 1.1 percent on the transfer of the property and another 1.1 percent on the value of the mortgage. That means a buyer in Washington D.C. is taxed at a higher rate than in the UK, China or Canada. The US’s zero-tax states for property transfers include Oregon, Missouri, Indiana and Idaho.

The average tax paid on a home purchase has risen quickly in recent years. A previous study of property taxes by UHY, in 2013, found that G7 countries charged an average of 2.29 percent tax on the purchase of a home worth $150,000. This has now risen to an average of 3.57 percent in 2020.

Dennis Petri, Chairman of UHY International says: “Taxing property purchases is one way to increase tax receipts to address the costs of coronavirus. However, US states’ tax systems for property purchases have traditionally taken the approach of keeping the burden on individuals low, and that allows Americans to move wherever they need to go to work. That has played an important role in building the robust economy this country has.”

“Not every state and city have the same low-tax approach, however. It can be a very unpleasant surprise for someone moving to Washington D.C., New Jersey or New Hampshire to find that the closing costs on their new home include several thousand dollars of tax payments to the state.”

“Luckily for most Americans, they will never have to deal with the double-digit tax rates on home purchases that they would face in some other parts of the world.”

UHY’s study also shows that several major developed economies now charge tax worth more than 10% on the purchase of a home worth $150,000, including Belgium (11.66 percent) and Japan (11 percent).

Rates of tax on a purchase of a home worth $2 million across the United States average just 0.39 percent, while Russia levy no tax at all on purchases of residential property, regardless of value.

UHY tax professionals studied tax data for individuals purchasing a house worth $150,000, $1 million and $2 million in 27 countries across its international network, including all members of the G7, as well as key emerging economies.

Click here to see full results: https://uhy-us.com/insights/2020/july/uhy-study-shows-homebuyers-in-the-us-have-some-of-the-lowest-rates-of-property-tax-in-the-world

New member firm in Nicaragua joins UHY network

UHY welcomes Morales, Tellez & Asociados CÍa Ltda, its new member firm in Nicaragua, to the global accountancy network UHY, extending its coverage within the Central Americas region. The firm is in the process of adopting the UHY branding and will soon be known as UHY Auditores & Consultores.

The firm was established in 2012 as an accounting and consulting firm and is based in Managua, Nicaragua, the largest country in Central America. As part of the growth strategy of Morales, Tellez & Asociados CÍa Ltda, the partners are developing their offering throughout Central America in collaboration with UHY Pérez (Guatemala), a member of UHY since 2008.

Morales, Tellez & Asociados CÍa Ltda has four partners and eleven other professional and administrative staff. The firm’s managing partner is Omar Pérez and the senior partner is Mario Tellez who alongside the other partners is a licenced accountant.

Managing partner Omar Pérez comments: “The global UHY network has over 8,200 colleagues sharing expertise and knowledge for the benefit of clients and these combined resources strengthen the offering of Morales, Tellez & Asociados CÍa Ltda. UHY looks forward to a successful cooperation together with UHY Pérez (Guatemala) and across the global UHY network to help its clients operate more efficiently in a competitive marketplace”.

The firm offers a full range of services include Administration, Management Consulting, Finance, Accounting, Tax Consulting, Human Resources and Auditing. Morales, Tellez & Asociados CÍa Ltda operates across many sectors, specialising in the Pharmaceutical, Shipping, Retail, Technology and Manufacturing sectors and has a client base that includes Costa Rica, Panama, Guatemala, Colombia and Honduras.

Dennis Petri, chairman of UHY comments: “Nicaragua’s economic resources offer many opportunities. Examples include its exports such as clothing, coffee, beef, sugar as well as light manufacturing. We are delighted to welcome Morales, Tellez & Asociados CÍa Ltda to the UHY network; the firm extends our coverage and capabilities to serve clients in Nicaragua, across Central America and internationally”.

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About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are US members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members

About UHY
Established in 1986 and based in London, UK, UHY is a leading network of independent audit, accounting, tax and consulting firms with offices in over 300 major business centres across 100 countries. Our staff members, over 8,200 strong, are proud to be part of the 16th largest international accounting and consultancy network. Each member of UHY is a legally separate and independent firm. For further information on UHY please go to www.uhy.com.

UHY is a member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.forumoffirms.org

UHY liaison office for Morales, Tellez & Asociados CÍa Ltda
Contact Omar Pérez, Managing Partner on +502 2503 5900 operez@uhy-perez.com
W: www.uhy-perez.com

UHY global press contact: Leigh Lyons, marketing & business development manager, on +44 20 7767 2624 l.lyons@uhy.com – www.uhy.com

Jerry Grady, Partner, UHY LLP To Speak at the annual Executive Forum North America

DETROIT, Mich. — UHY LLP is proud to announce that Jerry Grady, Partner, will be a featured speaker at the 2020 Executive Forum North America: Strategies for a New World, taking place this March.

Hosted by Staffing Industry Analysts (SIA), the annual Executive Forum conference is the premier annual staffing event, offering a powerful lineup of top executives, world-renowned keynote speakers, state of the art industry suppliers, hard-hitting insights backed by industry data and real-time analyses for leaders looking to accelerate their growth and stay competitive in the global talent marketplace.

Jerry will address Cash Management Strategies on March 11, 2020 at 11:45 am

Jerry Grady has acquired a wealth of knowledge throughout his nearly 35 years in public accounting. He is the leader of the National Staffing Practice and sits on the board of a number of regional staffing industry associations. Grady is a regular speaker and webinar host for many regional staffing organizations. He spoke on Mergers and Acquisitions for the Staffing Industry Analysts in 2016.

“I am looking forward to be a part of an impressive line up of speakers and sessions at Executive Forum. Speaking at the Forum allows UHY LLP to be able to share thoughts and insights to leaders from across the industry. It is an honor to speak at this event and be a thought leader for the industry” said Jerry Grady, national staffing practice leader, UHY LLP.

“With the best of the best from across the industry, and leaders from organizations of all sizes exchanging viewpoints and insights, we have an incredibly robust and diverse line up of speakers and sessions on the agenda for Executive Forum North America,” said Barry Asin, SIA President. “We are entering a new decade in which the status quo no longer applies, and there has never been a more urgent moment to reset strategic and tactical priorities. I am especially excited to welcome attendees to our flagship event and largest annual conference, and for the conversations as we re-envision a new world for a new decade.”

Executive Forum North America 2020: Strategies for a New World will be held March 9th-12th at the Fontainebleau Hotel in Miami Beach, FL.

​For more information and registration, visit http://www.siexecutiveforum.com|@ExecForum.va

UHY Advisors Names Michael Antovski as Chief Operating Officer

DETROIT, Mich., — UHY Advisors (“UHY”), one of the nation’s leading professional services firms has hired Michael Antovski as its Chief Operating Officer. Antovski will be responsible for the oversight of the firm’s national shared services including finance, information technology, marketing, corporate compliance and human resources. He will be active in all facets of the firm’s acquisition initiatives, and will be instrumental in executing the strategic vision of the Board of Directors.

Antovski comes to UHY with over twenty years working with professional services firms, including a Wall Street law firm, a multi-national accounting firm, and a number of middle-market focused law firms. Antovski has served as the lead tax partner on many mergers and acquisitions, and has led corporate restructuring initiatives. He has extensive experience working with entrepreneurs, private equity firms and financial services organizations which has helped him develop practical operational experience.

“Michael’s depth of knowledge and hands on experience compliments our strong performance-oriented culture. He will fill a key role on our national leadership team as we witness an unprecedented amount of professional services firms desiring to merge up.” said Steve McCarty, CEO of UHY Advisors.

Antovski will reside in the firm’s corporate headquarters in Farmington Hills, Michigan. He graduated from Michigan State University with a B.A in Accounting, and a J.D. from University of Detroit Mercy School of Law, and earned his LL.M in Taxation from Georgetown University Law Center.

UHY Strengthens Presence in the Middle East: New Member Firm in Kuwait Joins UHY Network

UHY Strengthens Presence in the Middle East: New Member Firm in Kuwait Joins UHY Network

Sterling Heights, Mich February 13, 2020 —We welcome Pillars Advisory, our new member firm in Kuwait, to the global accountancy network UHY, strengthening our representation in the Middle East. The firm has adopted the UHY branding and will be known as UHY Pillars with UHY Pillars Advisory as the full member firm and UHY Pillars Audit as its affiliate.

Pillars Advisory has both local and international clients across many sectors in over 20 countries with the top five sectors being real estate, non-profit, retail, services and contracting. The firm initially offered consultancy and accountancy reviews services but now also offers assurance services.

Managing partner Wael Arafa comments “Being part of the UHY global network underpins our commitment to deliver quality services and enhances the services and advice we can offer our clients. The global presence of the network combined with the expertise and knowledge shared among UHY’s 8,200 colleagues around the world strengthens our own market position, locally and internationally and will be of great value to our current and potential clients and their operations.”

Dennis Petri, chairman of UHY comments: “We are delighted to welcome Pillars Advisory and its affiliate firm Pillars Audit to the UHY network. The addition to our network of the two firms extends our coverage and capabilities in the Middle East. Kuwait has huge reserves of natural resources, a strategic location in the Persian Gulf and is part of the implementation of Gulf Gateway projects.”

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About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are US members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members

About UHY
Established in 1986 and based in London, UK, UHY is a leading network of independent audit, accounting, tax and consulting firms with offices in over 300 major business centres across 100 countries. Our staff members, over 8,200 strong, are proud to be part of the 16th largest international accounting and consultancy network. Each member of UHY is a legally separate and independent firm. For further information on UHY please go to www.uhy.com.

UHY is a member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.forumoffirms.org

UHY liaison office for Pillars Advisory
Contact Wael Arafa, Managing Partner on 965 966 26 663 wael@pillarsadvisory.com
W:: www.pillarsadvisory.com

UHY global press contact: Leigh Lyons, marketing & business development manager, on +44 20 7767 2624 l.lyons@uhy.com – www.uhy.com

Student Team Wins $2,000 In First-Ever UHY + Mike Ilitch School Of Business Tax Competition Or “Taxitition”

DETROIT, Mich. (November 20, 2019) – There are some things money simply can’t buy, and experience is one of them. Three students from Wayne State University’s Mike Ilitch School of Business received both – invaluable experience and money – after taking first place in the school’s first-ever “Taxitition” tax case competition.

This year’s winning team of finance and accounting students, aka the “Write-off Warriors,” David Borg, Brian Boeskool and Golam Tanzim, took home the top prize of $2,000.

In partnership with UHY, a leading national CPA firm with offices in Wayne, Oakland, Washtenaw and Macomb counties, the Ilitch School hosted the three-day case study competition Nov. 14-16. The goal was to help students learn why understanding taxes is so important in the corporate world.

“There is a huge unmet demand in the job market for tax accountants. This competition gave our students the opportunity to simulate real-world conditions in a friendly, competitive environment,” said Matthew Roling, Wayne State’s accounting department chair. “The teams had to be focused, creative and think on their feet. UHY’s investment in this program shows how much they care about our students’ success.”

The competition was broken into three parts. On day one, students gathered to hear about the case study and begin working on their presentations. On day two, they met with UHY mentors to review their progress with seasoned tax professionals and refine their answers. On the competition’s third and final day, the teams presented their solutions to a panel of judges comprised of UHY professionals and Ilitch School faculty. Each team had 20 minutes to present and a 10-minute Q&A session.

“We were impressed by all of the participants; their thought process and analytic skills exceeded our expectations. The winning team edged out their competitors by combining a strong advisory approach with a polished presentation,” said Tom Callan, CEO of UHY’s Great Lakes Region.

This year’s winning team earned a $2,000 cash prize as well as lunch with Callan at the Detroit Athletic Club. The second-place team earned $100 for each member.

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About WSU’s Mike Ilitch School of Business
The Wayne State University Mike Ilitch School of Business prepares students for challenging and rewarding careers, advances the boundaries of scholarly and practitioner knowledge, and enhances the economic vitality of the city of Detroit, the state of Michigan and beyond through its programs, research and community engagement. Established in 1946, the business school was renamed in 2015 in recognition of the $40 million gift from Mike and Marian Ilitch. Thanks to this lead investment, the school moved to a new state-of-the-art building in the heart of The District Detroit in 2018, and academic programming and collaboration with city businesses are expanding. For more information, visit ilitchbusiness.wayne.edu.

About UHY LLP
UHY LLP, a licensed CPA firm, provides audit and other attest services to publicly traded, privately owned and nonprofit organizations in a number of industry sectors. UHY Advisors provides tax and advisory services to entrepreneurial and other organizations, principally those enterprises in the dynamic middle market. UHY LLP, operating in an alternative practice structure with UHY Advisors, forms one of the largest professional services firms in the US. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”. To learn more visit www.uhy-us.com.

UHY Strengthens Presence in Europe: New Member Firm in Bosnia and Herzegovina Joins the UHY Network

We welcome, Revident d.o.o., our new member firm in Bosnia and Herzegovina to the global accountancy network UHY, extending our coverage within Europe. The firm is in the process of adopting the UHY branding and will soon be known as UHY Revident d.o.o.

Established in 2006, the firm’s main office is based in Mostar with further offices in Grude and Sarajevo. The team brings wide-ranging experience in audit, advisory, corporate finance and tax services to a portfolio of domestic and international clients primarily represented in the art and entertainment, hospitality, manufacturing, mining and quarrying and retail sectors.

Senior partner, Božo Vukoja comments: “Being part of the UHY global network underpins our commitment to deliver quality services and enhances the services and advice we can offer our clients. The global presence of the network combined with the expertise and knowledge shared among UHY’s 8,200 colleagues around the world, not only strengthens our own capabilities, locally and internationally, but also these of our current and potential clients and their operations.”

Rick David, chairman of UHY comments: “We are delighted to welcome Revident d.o.o. to the UHY network. Bosnia and Herzegovina, is embarking on a new growth model and continues to embrace economic change including its impending membership to the European Union. Revident d.o.o.’s membership extends our footprint in Europe and strengthens UHY’s regional market expertise and capabilities to serve our international clients who have business interests in this country and the wider region.”

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About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are US members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

UHY liaison office for Revident d.o.o
Contact: Matko Knezevic, +387 63 371 789, Email: matko.knezevic@revident.ba W: www.revident.ba

About UHY
Established in 1986 and based in London, UK, UHY is a leading network of independent audit, accounting, tax and consulting firms with offices in over 320 major business centres across 100 countries. Our staff members, over 8,200 strong, are proud to be part of the 16th largest international accounting and consultancy network. Each member of UHY is a legally separate and independent firm. For further information on UHY please go to www.uhy.com.

UHY is a member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.forumoffirms.org

UHY press contact: Dominique Maeremans on +44 20 7767 2621 Email: d.maeremans@uhy.com.

US Ranked Second in World for Number of Blockchain and AI Patents Being Filed – but Behind China

• US businesses filed 29 percent of all global blockchain patents in 2017
• Chinese companies have big lead in developing AI technology
• US Government may need to consider more R&D tax credits to keep pace with China

CHICAGO, January 23, 2019 —Twenty nine percent of all global patents for blockchain technology were filed by US businesses last year – ranking them second in the world – with 92 patents from a total of 314 filed with the World Intellectual Property Organization (WIPO) in 2017, shows a new study by UHY, the international accounting and consultancy network.

In comparison, Chinese businesses filed 32 percent of all global patents for blockchain technology in 2017. Chinese businesses have invested heavily in blockchain technology in recent years, with the Chinese central bank supporting the development of a blockchain-based trade finance platform to help SMEs access finance.

The study shows that Australian businesses were third, filing 40 patents (13 percent), with UK businesses in fourth, filing 34 patents related to blockchain (11 percent) with WIPO in 2017 (see table below).

In the United States, the largest filer of global blockchain patents was credit card provider Mastercard, which filed patents for developments including a system for offline blockchain exchanges.

UHY adds that the biggest filer of global blockchain patents last year was nChain, a blockchain-focused research firm based in London and Vancouver, which filed 48 patents for blockchain technology at WIPO in 2017.

UHY says that to help increase blockchain innovation even further in the US, the Emerging Technology Office of the General Services Administration launched the US Federal Blockchain programme. This is designed to help US businesses that are interested in exploring blockchain technology and its implementation within Government.

UHY explains that while European businesses have only filed a limited number of patents at the global level through WIPO, many have been more active at a local level.

US businesses rank second in the world for patenting new blockchain technology

US businesses also ahead of international rivals for developing Artificial Intelligence technology

The study also shows that US businesses are responsible for filing 65 patents related to Artificial Intelligence (AI) technology with WIPO last year. This represents 10 percent of all Artificial Intelligence related patents and is second only to the number patented by Chinese businesses.

China is ahead of its global competitors by some distance in the race to build portfolios of intellectual property in Artificial Intelligence. Chinese businesses filed 473 out of the 649 Artificial Intelligence patents (31 percent) filed with WIPO last year. (see table below).

UHY says that Chinese businesses like Baidu – often described as the ‘Google of China’ – and technology and social media conglomerate Tencent are among the world’s leading developers of Artificial Intelligence technology. Baidu filed the most Artificial Intelligence patents at WIPO in 2017, with 183.

Global competition over Artificial Intelligence technology has heated up in recent years, with many national governments putting in place programmes to support businesses and universities in developing Artificial Intelligence clusters and bringing technology to market.

UHY says the US Federal Government has prioritised funding for Artificial Intelligence and other innovative new technology. Since 2015, its investment in unclassified R&D for Artificial Intelligence and related technologies has grown by over 40 percent.

In September 2018, the US President signed a Presidential Memorandum prioritizing high-quality Science, Technology, Engineering and Math (STEM) Education. It has a particular focus on computer science education and committed $200 million in grand funds, matched by $300 million in private industry commitments.

The US’ largest filer of Artificial Intelligence patents with WIPO in 2017 was Berkeley-based start-up Bonsai AI with seven. Microsoft announced its acquisition of the business in June 2018.

New Artificial Intelligence technology developments dominated by Chinese companies – US businesses rank second

Rick David, Chairman of UHY and Chief Operating Officer of UHY Advisors in the US, comments: “The US is a world leader for developing and patenting new technology, especially related to blockchain and Artificial Intelligence.”

“In recent years, the US Federal Government has introduced a range of new programs designed to encourage R&D. The Trump Administration has also prioritized funding for fundamental Artificial Intelligence research and computing infrastructure, machine learning and autonomous systems.”

“Blockchain and Artificial Intelligence could unlock significant economic growth over the coming decades. Developing Artificial Intelligence technology is also going to be critical in determining which businesses will emerge as leaders from the next industrial revolution.”

“The businesses that are positioned best in the long term are those that benefit from private enterprise and government both investing to bring Artificial Intelligence technology to mass markets.

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About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are US members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

About UHY, the network
Established in 1986 and based in London, UK, UHY is a leading network of independent audit, accounting, tax and consulting firms with offices in over 320 major business centres across more than 95 countries. Our staff members, over 8,100 strong, are proud to be part of the 16th largest international accounting and consultancy network. Each member of UHY is a legally separate and independent firm. For further information on UHY please go to www.uhy.com.

UHY press contact: Dominique Maeremans on +44 20 7767 2621 Email: d.maeremans@uhy.com.

UHY is a member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.forumoffirms.org.

UHY is an international association of independent accounting and consultancy firms, whose organizing body is Urbach Hacker Young International Limited, a UK company. Each member of UHY is a separate and independent firm. Services to clients are provided by the UHY member firms and not by Urbach Hacker Young International Limited. Neither Urbach Hacker Young International Limited nor any member of UHY has any liability for services provided by other members.

UHY Advisors Names Steve McCarty as New CEO

UHY Advisors (“UHY”), a leading national accounting, tax and consulting firm, today announced that Steven McCarty has been elected CEO, effective January 1, 2019. McCarty succeeds Tony Frabotta as CEO, with Frabotta assuming the role of chairman. McCarty led the firm’s Corporate Finance line of business and was the industry service leader for the Professional Employer Organization practice at UHY. He is a member of the firm’s Board of Directors and the Michigan Region Executive Committee.

“Steve has been with UHY nearly 27 years and has proven himself as an exceptional colleague, industry professional and leader within the firm,” said Tony Frabotta, outgoing CEO. “Steve has been a trusted confidant to clients and an active participant in the local communities which UHY serves. As the leader of our Corporate Finance practice, he has been instrumental in building that service line and participating in hundreds of middle-market transactions. We are proud to have Steve step up and lead UHY’s innovation and growth on a national level.”

“I am grateful to our Board for putting their trust in me to lead UHY’s national operations,” said Steven McCarty. “Our firm is growing while the accounting profession as a whole is consolidating. Tony Frabotta has done a masterful job building UHY partner unity and creating a strong marketing mentality.” McCarty started his career at UHY in the tax department, transitioned to the audit practice and most recently, chaired the firm’s Transaction Services and Corporate Finance Group. “I look forward to focusing on the development of our associates and expanding our UHY footprint,” said McCarty. “UHY has a solid middle market reputation and when coupled with our international reach, we are uniquely positioned to grow around the US and abroad.”

Focusing on closely-held middle-market businesses, private equity owned portfolio companies and the mid-cap public marketplace, McCarty has experience advising clients on comprehensive tax, audit and business consulting solutions around the country. He has completed numerous business transactions including deal negotiations, buy and sell side strategy, due diligence, quality of earnings reports, financial analysis and modeling, tax strategies, valuations and financing.

McCarty is a Certified Management Accountant (CMA) and a licensed CPA in Florida and Michigan.

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UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY Advisors, Inc. and UHY LLP are US members of UHYI, a UK company, and form part of the international UHYI network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHYI international network. Any services described herein are provided by UHY Advisors, Inc. and/or UHY LLP (as the case may be) and not by UHYI or any other member firm of UHYI. Neither UHYI nor any member of UHYI has any liability for services provided by other members.