Tax Preparation & Planning Services
End of an Era? Potential Termination of the NJ-PA Reciprocal Tax Agreement
Governor Christie announced this week that he will NOT rescind the New Jersey – Pennsylvania Reciprocal Tax Agreement, as he threatened to do earlier this fall and I wrote about…
When Nonprofits are Taxed on Unrelated Business Income
While most nonprofits are operated primarily to be tax exempt, it doesn’t mean they won’t pay business income tax. When nonprofits generate income on unrelated activities, this can result in that
Is Your Payroll Service Provider Really Remitting Your Taxes?
At a recent client board meeting I was asked how an organization would know if their payroll service provider was remitting the payroll taxes on their behalf. In light of…
Preparing For The New Overtime Pay Rule
After much anticipation, the Department of Labor recently released a new rule that will change how employers compensate employees. Effective December 1, 2016, workers who earn above the previous threshold…
Retirement Planning for the Self-Employed
Self-employed individuals are notoriously busy, but that does not mean that planning for retirement should be put on the back burner. A recent survey indicated that 70% of America’s 10…
Gifting Wisely
Most of us are familiar with the concept that we can gift a certain amount of money to another person every year without gift tax consequences and that there is…
IRS Outlines Exempt Organization’s 2016 Priorities
The IRS Tax Exempt and Governmental Entities Division recently issued their 2016 priorities. Exempt Organizations (EO’s) overarching compliance strategy is to ensure organizations enjoying tax-exempt status comply with the requirements…
Congress Passes the PATH Act of 2015 and Makes Changes to Social Security in the Final Quarter of 2015
Keeping year-end tax planning interesting right up until the end, Congress acted in late December to pass The Protecting Americans from Tax Hikes (PATH) Act of 2015. This bill addresses…
Properly Allocate Your Combined Business & Vacation Travel Expenses
If you go on a business trip within the U.S. and add on some vacation days, you know you can deduct some of your expenses. The question is how much.…
Rick Willinger Featured in MidJersey Magazine on Tax Tips for Business Owners
With the start of 2016, many business owners are looking at the opportunities and challenges that lie ahead. But this may also be the right time to take a look back, especially…