Tax Preparation & Planning Services

2021 IRS TE/GE Division Update

The impacts of the COVID-19 pandemic in 2020 have forced us and our tax-exempt (and for-profit) clients to grapple with rapidly changing work environments, economic climates, and regulatory and compliance landscapes. The IRS Tax Exempt and Government Entities (TE/GE) Division is not immune from this rapidly changing environment either! The TE/GE recently released its fiscal…

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PPP2 is Here – What You Need to Know

On Monday, December 21st, the U.S. Senate and House of Representatives passed a $900 billion COVID-19 relief bill, called the Consolidated Appropriations Act, that provides $600 stimulus payments to individuals, adds $300 to extended weekly unemployment benefits, and provides more than $300 billion in relief funding for small businesses as a supplement to the original…

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Tax Impacts of the New COVID Relief Bill

The Consolidated Appropriations Act of 2021 has been passed by Congress and was signed by the President last Sunday, December 27th. The bill is very large and contains over 5,600 pages. It includes the COVID-Related Tax Relief Act of 2020 (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR), which contain…

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Mercadien Webinar Replay: 2020 Year-End Tax Planning: What You Need to Know

Richard S. Willinger, CPA, MST, CGMA, Managing Director of Mercadien’s Private Company Services Group presented a webinar 2020 Year-End Tax Planning: What You Need to Know on Tuesday, December 15th. During the webinar, he went over: Individual Tax Updates Tax Impact of Working Remotely Potential Impact from Election Charitable Planning Estate & Gift Planning New Jersey…

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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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Important Filing Information For 2020 Forms 1099 MISC & NEC

Updated 1/5/21 New State Electronic Filing Requirements New for 2020: This year most states including New Jersey require mandatory electronic filing of all 1099s. If you need assistance with the new state e-filing requirements, please reach out to Mercadien’s Tax Services Group. For the 2020 tax year, the Internal Revenue Service (IRS) and State Taxing…

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How This Year’s Election Could Affect Your Year-End Tax Planning

As year-end approaches, it is a good time to think about planning moves that may help lower your tax bill 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 personal and business finances. New tax…

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Mercadien Announces Executive Promotions; Names Ms. Lovepreet Buttar A Partner

September 14, 2020; Princeton, NJ & Philadelphia, PA – The Mercadien Group is pleased to announce several promotions within the firm’s corporate leadership team.  Ms. Lovepreet Buttar, CPA, MBA, CGMA, PSA, a member of the Nonprofit & Human Services Group, was promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs…

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