News & Insights
NJ Enacts Pass-Through Business Alternative Income Tax
New Jersey has enacted legislation creating: an elective entity-level alternative income tax (AIT) for pass-through businesses; and an offsetting credit to taxpayers who receive income from a pass-through…
Continue ReadingRedesigned 2020 Form W-4
The Form W-4 for 2020 and after has been redesigned so that employees will no longer be able to request adjustments to their withholding using withholding allowances. The employee uses the redesigned Form…
Continue Reading3 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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Changes to Philadelphia’s 10-Year Tax Abatement
Two decades since the program started, Philadelphia City Council unanimously voted to change a controversial tax abatement for new builds within city limits. What was the 10-year tax abatement? The tax…
Continue ReadingTax Cuts and Jobs Act’s Change to R&D Credit
Research & development credits available to businesses are currently deductible in the applicable tax year, encouraging growth and investment. A change in the deductibility of this credit will go into…
Continue ReadingMGI Worldwide and CPAAI Merge to Create Major International Accounting Network
MAPLE SHADE, NJ – Haefele, Flanagan & Co., p.c. is pleased to announce the merger of leading global accountancy groups, CPAAI (CPA Associates International) and MGI Worldwide. Haefele, Flanagan & Co.,…
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Good Debt, Bad Debt, and Electronic Payments
Before you sign up for another streaming content or food delivery service, consider this: Debt-to-income (DTI) ratios have shifted dramatically in recent years, with the average American household earning…
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Employers Can Fund Workers’ Individual Plans Under New Rule
More employers will be able to give workers cash in lieu of health insurance because of a rule change that takes effect at the start of 2020. As of Jan 1, any employer can give employees pretax compensation…
Continue ReadingQualified 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…
Continue ReadingTaxpayers Should Be on the Lookout for New Version of SSN Scam
Taxpayers should be on the lookout for new variations of tax-related scams. In the latest twist on a scam related to Social Security numbers, scammers claim to be able to suspend or cancel the victim’s…
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