With the end of the 2020 filing season upon us, now is the time to become aware of major changes for 2021. But be prepared, politicians are making noise in preparation for another fun-filled year…

While many businesses struggled through the pandemic, none more so than the restaurant industry. In an effort to aid these businesses, the Consolidated Appropriations Act introduced a 100% business meal deduction, formerly 50%. However, many…

[Updated March 22, 2021] Spring 2021 Tax Deadlines March 15, 2021 – Deadline to file partnership and S-Corporation tax returns. April 15, 2021 – Deadline to file trust and calendar-year C-Corporation returns. – Annual gift…

We’re Here for You [Updated March 19, 2021] New legislation passed on December 27, 2020 expanded the Employee Retention Credit that was originally introduced with The CARES Act in March of 2020. The new legislation…

It is not too early to start tax planning for the year to come. In addition to the planning changes in tax benefit phaseouts and other cost of living (COLA) adjustments, here are changes to…

Tax Update for NJ Pass-Through Entities Act quickly to save tax dollars thanks to new legislation.   What is it? New Jersey recently enacted the Pass-Through Business Alternative Income Tax Act (NJ BAIT) in an…

New taxpayer relief initiative The IRS has made a number of changes designed to help struggling taxpayers impacted by COVID-19. These include an extension of the short-term payment plan option from 120 days to 180…

The CARES Act comes with some unexpected benefits for small and large businesses alike. This includes tax credits around paid sick leave, paid family leave, and employee retention as well as the deferral of some…