Unfortunately, I don’t make a million dollars a year in income. Yet, strangely enough I’m offended by our Governor’s proposal to tax earnings above one million dollars. Why do I care? For a Governor who repeatedly talks about tax fairness this proposal strikes me to be anything but fair. I feel it is disingenuous to […]
Take these steps now to avoid a tax surprise in 2019
If you want to head off a tax bill from Uncle Sam next spring, right now is the best time to prepare. Mid-year tax planning is especially important in 2018, experts say, as accountants and their clients grapple with a volley of changes from the Tax Cuts and Jobs Act. Updates under the new law […]
Tax planning: Now that 2017 return is filed, consider these tips for the rest of the year
Another tax-return filing season is basically in the bag, and the last thing you want to think about any further is taxes. But it’s not too early to start planning ahead. These key tips might bear fruit down the road, especially with taxes still fresh in your mind. Read the full article here>>
Reducing Taxes, Bringing More Businesses to NJ and Building Affordable Housing Should Stop Millennial Movement Out of NJ, says NJCPA Survey
ROSELAND, N.J. — Reducing taxes, bringing more businesses to New Jersey and building affordable housing were cited as the main reasons to help millennials (generally categorized as those born between 1981 to 2000) stay in New Jersey, say 975 respondents in a New Jersey Society of CPAs (NJCPA) survey conducted of members in March. When […]
Supporting Small Businesses via Lending
Small businesses are the lifeblood of any healthy economy. In New Jersey specifically, small businesses make up 99.6 percent of the total businesses in the state. In total, small businesses employ approximately 1.8 million people in the state, or 50 percent of the private workforce. These businesses, defined as having fewer than 500 employees, need […]
What to Do about the New “Section 199A” Small Business Tax Deduction
Back in December, President Donald Trump signed the Tax Cuts and Jobs Act. Congress had included in the act a “20 percent of X” tax deduction for owners of pass-through businesses, and most small businesses owners celebrated. “This is the first broad brush deduction available only to businesses owners since the inception of the Federal […]