Tax Amnesty Announced for Unpaid/Unfiled New Jersey Taxpayers
New Jersey Announces Tax Amnesty Effective Until January 15, 2019: Helpful Information for Businesses and Individuals with Unpaid/Unfiled New Jersey Taxes The New Jersey Division of Taxation recently announced that it will be conducting a tax amnesty program from November 15, 2018, until January 15, 2019. During this two-month window,
‘Tis the Season… To Unwrap Your Tax Savings
As you’re settling in for the holidays, and taking shelter from the winter weather with a warm fire and mug of cocoa, don’t forget to take one last look at your tax planning opportunities before the end of the year. The Tax Cuts and Jobs Act (TCJA) made major changes
Increased 401(k) Contribution Limits Present Opportunities for Employers
The IRS has increased the annual 401(k) contribution limits for 2019. The annual contribution limit was increased $500, to $19,000. The catch-up contribution limit remains unchanged at $6,000, resulting in a total contribution limit of $25,000 for individuals over the age of 50. Additionally, the annual compensation limit was increased,
ASU 2018-17 Provides Variable Interest Entity Relief for Nonpublic Companies
On October 31, 2018, the Financial Accounting Standards Board (FASB) released ASU 2018-17, a much-anticipated standard providing relief for nonpublic companies with variable interest entities (VIE). At its core, the standard allows nonpublic companies, defined as companies without debt or equity traded in a public market, who are not a
Steel and Aluminum Tariffs Affect Downstream Manufacturers, Too
The steel and aluminum tariffs initiated by the Trump administration are making an impact further downstream than one might think. In other words, the tariffs are not just affecting those who do the importing. On March 8, 2018, President Trump imposed a 25% tax on imported steel and a 10%