The Benefits of Outsourced Accounting

Outsourced accounting strikes some as risky – the financial equivalent of letting the valet park your car or someone else watch your kids. They don’t care the way I do. They’re too removed to spot…

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3 Tips for Choosing a Business Entity

Entrepreneurs face formative decisions daily, but one decision in particular has serious implications for the future: choosing a legal structure, also known as a business entity. This decision determines…

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Qualified Opportunity Zones: Guidelines for Developers

Congress designated Qualified Opportunity Funds in 2017 with a win-win goal: To spur growth in 8,700 distressed communities, known as Qualified Opportunity Zones, via investment vehicles offering attractive…

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IRS Alerts Taxpayers: Scammers Scheming Around Oct. 15 Deadline

The Internal Revenue Service is reminding taxpayers to beware of criminals who continue using devious tactics to steal money and personal information from unsuspecting victims, especially as the fall season…

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NJ Paid Sick Leave Law goes into Effect Oct. 29Th

The New Jersey statewide mandatory paid-sick-leave law will go into effect on Oct. 29. Once effective, it will require New Jersey employers of all sizes to provide up to 40 hours of paid sick leave per…

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New Jersey Issues New Rules on Salt Workaround

The state Division of Local Government Services adopted regulations to implement a “SALT” deduction workaround that Gov. Phil Murphy and U.S. Rep. Josh Gottheimer (D-N.J.) introduced earlier this year…

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IRS & Treasury Propose Regulations on Salt Deduction Charitable Workarounds

The U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or…

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Small Businesses get Automatic Consent for Accounting Method Change

The Internal Revenue Service issued guidance on new tax law changes that allow small business taxpayers with average annual gross receipts of $25 million or less in the prior three-year period to use the…

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IRS Ruling Allows 401(K) Student Loan Benefits

On Aug. 17, the Internal Revenue Service released a private letter ruling that could make it easier for employers to use their 401(k) plans to assist their employees who are repaying student loan debt…

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States Respond to the US Supreme Court Ruling in South Dakota V. Wayfair

In South Dakota v. Wayfair, 1 issued June 21, 2018, the US Supreme Court overturned both its prior rulings in Quill 2 and National Bellas Hess, 3 finding that the physical presence nexus standard articulated…

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