CPA Practice

FEBRUARY 1, 2023

The New Jersey accounting firm SobelCo has joined CLA (CliftonLarsonAllen LLP), the eighth largest accounting firm in the United States, effective February 1, 2023. “We I’m excited to welcome the SobelCo team members to the CLA family as we continue to expand our reach into New Jersey, New York, and surrounding areas.”

New Jersey 98

New Jersey Pennsylvania New York cpa firm 98

Patriot Software

FEBRUARY 13, 2023

New Jersey started its paid family leave plan in 2009 with the New Jersey Family Leave Act. New Jersey paid family leave (PFL) made NJ the second state (after California) to pass a PFL policy. If you’re a New Jersey employer, you need to know about your responsibilities.

New Jersey 77

New Jersey California payroll tax payroll 77

CPA Practice

JANUARY 11, 2024

Consisting of more than 65 people, Baratz & Associates has developed a well-established reputation for providing accounting, auditing, business acquisition, health care consulting, litigation support, tax planning, and valuation services to clients. Established in 1992, Renzi Bernardi Suarez & Co.

New Jersey 64

New Jersey cpa firm CPA forensic accounting 64

CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

Withum

JANUARY 19, 2022

Governor Murphy signed into law a bipartisan bill (S4068) that enhances the state’s electable pass-through entity (PTE) tax, known as the New Jersey Business Alternative Income Tax (BAIT) on January 18, 2022. In exchange of the BAIT entity paid tax, owners receive a corresponding pro rata share of a BAIT credit.

New Jersey 52

New Jersey income tax Tax tax services 52

TaxConnex

OCTOBER 19, 2022

Sales tax, unlike other types of taxes, has many deadlines, not once or twice a year, but often every month and it doesn’t fall on the same day for every business, or state. Not to mention, the process of reporting sales tax and the amount of information required on each return varies with each state and local jurisdiction.

Sales 191

Sales Tax New Jersey Louisiana 191

Withum

FEBRUARY 15, 2024

Tax loss harvesting is an income tax planning strategy that involves selling investments at a loss with the intent to offset capital gain income. This strategy is beneficial to taxpayers who have large capital gain income and are seeking ways to lower their related income tax liability.

Tax 123

Tax income tax New Jersey CPA 123

Going Concern

APRIL 5, 2024

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.

tax preparation 93

tax preparation tax return New Jersey Tax 93

TaxConnex

AUGUST 15, 2023

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

Sales 130

Sales Tax Alabama Texas 130

TaxConnex

SEPTEMBER 10, 2020

These fees raise the question – "are COVID surcharges subject to state sales taxes?”. Nevada , Texas , South Carolina and New Jersey are among the first states mandating surcharges on retail sales subject to sales tax. Have you determined in which states these surcharges are subject to sales tax? States to watch.

South Carolina 245

South Carolina Sales Tax Nevada 245

CPA Practice

JUNE 6, 2023

The New Jersey Society of Certified Public Accountants (NJCPA) will host its 2023 Convention & Expo, themed “Breaking Through,” at the Borgata in Atlantic City June 13-16.

New Jersey 52

New Jersey CPA cpas Washington 52

Withum

JANUARY 16, 2024

We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need. For the 2023 taxable year, a 179 expense of $1.16

Tax 118

Tax Tennessee New Jersey Massachusetts 118

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%

payroll tax 110

payroll tax West Virginia payroll cpas 110

Withum

APRIL 11, 2022

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.

New Jersey 64

New Jersey payroll tax services business tax 64

TaxConnex

NOVEMBER 2, 2021

You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements. For purposes of sales tax, sometimes supplements and vitamins are considered drugs (prescription or not), sometimes groceries or food, sometimes tangible personal property – and sometimes not. Sales tax isn’t getting any easier.

Sales 198

Sales West Virginia Tax Vermont 198

TaxConnex

NOVEMBER 8, 2022

How does sales tax fit into this? Sales tax when dollars and other “fiat money” are involved is clear: there is no sales tax due when acquiring the currency, and the currency can be used as legal tender to satisfy the purchase price of goods and services including any applicable sales tax due on the purchase price.

Sales 130

Sales Tax Wisconsin Kentucky 130

TaxConnex

APRIL 19, 2022

Sales tax has a universe of changing conditions. What are the sales tax ramifications? has possibly the most complex sales tax regime. Each state sets its own sales tax rules, often with widely varying approaches. Each state sets its own sales tax rules, often with widely varying approaches. Enter taxes.

Sales 186

Sales Tax Colorado New Jersey 186

TaxConnex

SEPTEMBER 14, 2021

There’s always something changing in the world of tax, especially sales tax. Dire forecasts of states’ plunging sales tax revenue in the age of COVID continue to be proven wrong. billion for next year – with online sales taxes making up a substantial portion of the take. Texas sales tax revenue totaled $3.39

Sales 173

Sales Alabama Tax Alaska 173

Accounting Today

FEBRUARY 28, 2024

The move would make New Jersey's corporate tax the highest rate in the country.

New Jersey 62

New Jersey Tax corporation tax Transportation 62

CPA Practice

FEBRUARY 14, 2024

Kevin Keane “With over a decade of experience working with inbound companies on various tax-related matters, SuárezBaldomero, P.A. footprint in an effective and efficient manner while navigating them through the federal, state, and local tax system. The firm specializes in assisting foreign businesses with structuring their U.S.

New Jersey 52

New Jersey forensic accounting cpa firm audit 52

TaxConnex

MARCH 9, 2023

At least three states opened this year with proposals to revamp taxes concerning digital advertising and data. Massachusetts legislators seem to be leading the way, with multiple draft bills that would adopt a digital advertising services tax on commercial data collection or the sale of personal information. The bills are in committee.

Sales 147

Sales Tax Indiana Massachusetts 147

Withum

FEBRUARY 27, 2024

When it comes to sports betting, taxes play a crucial role in shaping the industry. Each state has its own approach to taxing sports betting revenue for operators, resulting in a diverse landscape. The state levies a tax rate of 36% on sports betting revenue. billion since legalization in January 2022.

Sports 59

Sports Delaware Vermont Tennessee 59

Withum

FEBRUARY 3, 2022

Governor Phil Murphy signed into law Bills S844 and S2533 which revised New Jersey financial reporting requirements with the Attorney General charities and excludes non-monetary in-kind donations, related to an organization’s tax-exempt purpose, from gross revenue for the purpose of reporting requirements. Contact Us.

New Jersey 52

New Jersey audit Non-Profits financial statements 52

TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

Rhode Island 130

Rhode Island West Virginia Alaska North Dakota 130

TaxConnex

OCTOBER 18, 2022

Our Halloween-month look at tricky items for sales tax continues here with a few items it’s hard to live without…. Some states (of course) have special sales tax rules for clothing. Minnesota, Pennsylvania, Vermont and Rhode Island and New Jersey do just the opposite for protective and some other specialized clothing.

Rhode Island 130

Rhode Island Sales Tax South Carolina 130

TaxConnex

MAY 4, 2023

Many tech companies consider themselves service providers, exempt from sales and use tax. In these cases, IP addresses have been used for sales tax in certain situations because it can be mapped to a physical address. Whether they know it or not, they also give you another bit of location information: an Internet Protocol (IP) address.

Sales 130

Sales Tax Maryland Oregon 130

TaxConnex

JANUARY 11, 2022

It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. Many states say that when the contents of a shipment are taxable, so is the shipping cost; similarly, when items in a shipment are exempt from sales tax, so is the cost of shipping.

Rhode Island 181

Rhode Island Sales Tax South Dakota 181

TaxConnex

DECEMBER 30, 2021

Sales tax in 2021, though, seemed to move in only one direction: It intensified as even more states hopped on the economic nexus bandwagon and the sales tax burden for online businesses grew. Here’s a look back at some of 2021’s biggest developments in sales tax. Happy new fear. New players. Illinois, on Jan.

Sales 193

Sales Tax Maryland West Virginia 193

Katz,Sapper&Miller

JANUARY 29, 2019

In 2018, New Jersey Gov. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. In 2018, New Jersey Gov. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA).

New Jersey 40

New Jersey corporation tax Tax business tax 40

TaxConnex

JULY 13, 2023

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Connecticut: Tax-free week begins on the third Sunday of August and runs until the following Saturday. New Jersey , Aug. Iowa , Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

OCTOBER 25, 2022

There’s always something changing in the world of tax, especially sales tax. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Nationwide, sales tax receipts were up 1.5% Inflation bites. in real terms.

South Dakota 130

South Dakota Sales Tax South Carolina 130

CPA Practice

JULY 28, 2023

But this estate planning concept—which has seemingly been around since the dawning of time—does offer significant financial and tax benefits. Now we’ll get to the tax consequences. First, let’s start with federal income taxes. Notably, it provides the following tax breaks. No income tax when you acquire the policy.

income tax 98

income tax Tax New Jersey New York 98

TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers.

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audit Sales Tax auditor 168

TaxConnex

JANUARY 26, 2023

There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Crystal ball time. Oneida, N.Y.,

Sales 130

Sales Tax Arkansas Missouri 130

CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Here is the main federal income tax implication. Legal marijuana businesses are an enforcement priority of the IRS.

income tax 98

income tax Tax tax return Minnesota 98

TaxConnex

AUGUST 25, 2022

In a field that changes as fast as sales tax, it’s a necessity. You generally have three options to address your sales tax compliance obligation: try to manage everything in-house; outsource to an experienced provider; or do nothing and roll the dice. This one of the key steps to complying with sales and use tax laws nationwide.

Sales 165

Sales Tax audit Alaska 165

CPA Practice

FEBRUARY 19, 2024

(TNS) This tax season, more entrepreneurs are looking to cash in on their work-from-home habit. Now, after investing in at-home monitors, standing desks, and Zoom-background-worthy bookshelves, they are discovering there’s a tax break for that—and giving their accountants a call. It’s not overly complex,” says Martin.

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Tax Real Estate New Jersey CPA 116