The federal Tax Cuts and Jobs Act, which represents the first major U.S. tax code overhaul in 30 years, seems to provide small businesses everywhere with a break on their taxes. For NJ business owners and managers, it’s critical to understand how the new mandates will affect your organization. Pass-through business deduction Pass-through companies account for […]
Finances
Tax reform 2018: What you need to know now
Congress has ushered through the biggest tax reform law since 1986, when President Reagan signed major legislation for corporations and individuals. The new law will affect the way you, your family and your business calculate your federal income tax bill — and the amount of federal tax you will pay. As we prepare for the […]
The best places to “park” excess company cash
Business owners face a constant balancing act when it comes to deciding how much cash to keep in their everyday checking account. On one hand, the money in these accounts is available in case of an emergency or unexpected business opportunity. However, federal law prohibits banks from paying interest on business accounts. Congress often discusses […]
Tax reform opportunities to consider as 2017 winds down
Congress is enacting the biggest tax reform law in 30 years — one that will fundamentally change the way your federal income tax bill is calculated. Since most of the changes will go into effect next year, there’s still a narrow window before year-end to soften or avoid the impact and best position yourself for […]
New lease accounting standards: Planning ahead to protect your organization
The Financial Accounting Standards Board (FASB) is gearing up to align U.S. standards with global accounting standards, increasing transparency in financial reporting and altering the way companies account for their leases. The mandate will become effective for most businesses in January 2019 — a date that might seem far into the future, but preparing to comply […]