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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. This might include advice on retirement contributions, tax-efficient investments, and other strategies to reduce taxable income.

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Senate Would Expand the Qualified Small Business Stock Exemption

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For example, the SFC proposal would not increase the current $10,000 state and local tax (SALT) deduction limitation to $40,000, as the BBB would, and not including the increased limit in the BBB is a non-starter for many House representatives (the so-called SALT Caucus) from high-tax states such as New York, New Jersey, Illinois and California.

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New Jersey Legislation Requires Businesses to Offer State Mandated Retirement Plans

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Governor Phil Murphy signed the New Jersey Secure Choice Savings Program Act on March 28, 2019, requiring many small to mid-size businesses to offer a retirement plan. New Jersey did create a Secure Choice Savings Program website that should provide more details regarding the program.

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New Jersey Requires Small Employers to Offer Retirement Plans: Compliance Deadlines Approaching

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New Jersey implemented a new law that requires employers with 25 or more employees to implement a retirement plan. Who It Applies To Businesses with 25 OR MORE employees in the ENTIRE PREVIOUS YEAR; That does NOT currently have a “qualified” retirement plan; and Have conducted business in New Jersey for AT LEAST 2 YEARS.

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How Will New Jersey Legislation (A5323) Affect Financial Services?

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On July 3, 2023, New Jersey enacted comprehensive tax legislation (A5323) that will likely impact every business in one shape or another. This includes investment management companies, such as investment advisors, hedge fund managers, mutual fund service providers, broker-dealers, and similar financial service businesses.

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New Jersey Legislation Implements Major Tax Changes, Including Market-Based Sourcing for Partnerships

Withum

New Jersey Gov. Phil Murphy signed into law A5323 on July 3, 2023, which includes wide-ranging provisions that will considerably impact businesses. This new bright-line test adopts a Wayfair nexus rule, subjecting a corporation to tax if it derives receipts in excess of $100,000 or has more than 200 separate transactions.

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Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch

Going Concern

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits.