Vernoia, Enterline + Brewer, CPA LLC

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Most New Jersey employers are now required to provide employees with earned sick leave.  Read the rest of this entry »

More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. Additionally, the IRS has recently updated a special page on its website with steps to take now for the 2019 tax filing season. Read the rest of this entry »

11_2018_IRA

When investing for retirement or other long-term goals, people usually prefer tax-advantaged accounts, such as IRAs, 401(k)s or 403(b)s. Certain assets are well suited to these accounts, but it may make more sense to hold other investments in traditional taxable accounts. Read the rest of this entry »

The Internal Revenue Service today released the Criminal Investigation Division’s (CI) annual report, reflecting significant accomplishments and criminal enforcement actions taken in fiscal year 2018. Read the rest of this entry »

Tax reform that affects both individuals and businesses was enacted in December 2017. It’s commonly referred to as the Tax Cuts and Jobs Act, TCJA or simply tax reform. In addition to nearly doubling standard deductions, TCJA changed several itemized deductions that can be claimed on Schedule A, Itemized Deductions. Read the rest of this entry »

The Tax Cuts and Jobs Act changed depreciation limits for passenger vehicles placed in service after Dec. 31, 2017. Read the rest of this entry »

The Internal Revenue Service reminds small business taxpayers that changes to the tax law mean they can immediately expense more of the cost of certain business property. Many are now able to write off most depreciable assets in the year they are placed into service. Read the rest of this entry »

Want to check on an organization’s tax-exempt status? Try the IRS Tax Exempt Organization Search (TEOS) tool.