Individuals & Family

NJEDA Expands Discounts, Extends Deadline for PPE Access Program

On Monday, November 23rd the New Jersey Economic Development Authority (NJEDA) announced that it will increase the discounts available on purchases of personal protective equipment made through the NJ Small and Micro Business PPE Access Program to nearly 70 percent, effective Tuesday, November 24, 2020. The Authority will also double the per-business cap on discount…

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State & Local Tax Considerations for Remote Employees During the COVID-19 Pandemic

As we all have witnessed over the last several months, the novel COVID-19 pandemic has changed the way the world works. Now, the physical location of businesses has less relevance. To meet social distancing guidelines and protect their employees while also keeping business rolling, most companies have asked employees to work remotely from their own…

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Important Considerations for Year-End Tax Planning

As year-end approaches, it is a good time to think about planning moves that may help reduce taxes for this year and possibly next. Year-end planning for 2020 takes place during the COVID-19 pandemic, which in addition to its devastating health and mortality impact has widely affected business finances. New tax rules have been enacted…

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Navigating the Changing & Growing Landscape of Banking Cannabis

Cannabis is inclusive of marijuana, hemp and CBD. Recently, more states, including New Jersey, have legalized marijuana for recreational use and the number of states that have legalized marijuana use, whether recreational or medicinal, has grown exponentially. The regulatory risk exposure and financial benefit to financial institutions is significant. Has your institution considered its position…

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NJ Pass-Through Owners Can Now Either Fish the Tax Waters or Cut New Jersey BAIT

New Jersey Pass-Through Business Alternative Income Tax (NJ BAIT) Act was passed in January 2020 and is effective for 2020.  This act was designed to help business owners mitigate the negative impact of the federal state and local tax (SALT) deduction limitation of $10,000 on individual tax returns.  Although there was initially some concern that…

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State & Local Government Entities – Are You Spending Your Relief Funds Properly?

The Coronavirus Relief Fund, a product of the Coronavirus Aid, Relief and Economic Security (CARES) Act, distributed $150 billion of payments for specified uses to state and certain local governments. The governments that receive funding have flexibility when determining who to disperse the funds to, however the funds must be used on eligible expenses. Additionally,…

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Important Filing Information For 2020 Forms 1099 MISC & NEC

For the 2020 tax year, the Internal Revenue Service (IRS) and State Taxing Authorities are requiring businesses to file Forms 1099 MISC and NEC (new for 2020) for any payments of $600.00 or more made to independent contractors that are not an S or C corporation in the course of your trade or business. These…

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Virtual Interviewing Techniques in a Remote Environment

Interviewing in a virtual environment can be a challenge to say the least. Regardless of whether the interview is human resources-focused or for investigative purposes, the challenges are similar and often include unpredictable technical failures, security and privacy concerns, issues with sharing documents and exhibits, limitations in assessing demeanor, body language and credibility, and more.…

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Fraudulent Unemployment Claims- Employers & Employees Be Aware & Vigilant

What is happening? The rise in unemployment filings and the expansion of jobless benefits in the ongoing COVID-19 pandemic have enabled an increase of fraud across the country. Your Human Resources department has a responsibility to respond quickly to fraudulent unemployment claims and assist employees whose personal information may have been compromised. Across several states, employers…

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Is Your Organization Utilizing All Available Relief Funds for Healthcare Providers?

The Coronavirus Aid, Relief and Economic Security (CARES) Act established and appropriated $175 billion the Provider Relief Fund. The Provider Relief Fund supports American families, workers, and the heroic healthcare providers on the front lines in the battle against the COVID-19 outbreak. Its mission is to issue relief funding to alleviate financial hardship caused by…

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