Accounting Professional software
According to New Jersey CPA officers at Vernoia, Enterline + Brewer, LLC, accountants pay up to $35,000 for their accounting software, which is far more sophisticated than consumer-based products such as TurboTax. An accountant’s more advanced software has the ability to quickly scan your information and organize line items and forms correctly. While the software automates data entry and organization to minimize the potential for human error on your return, what is most important is the education and experience of your Certified Public Accountants and the tax planning they might offer. (more…)
The IRS has issued guidance (Notice 2015-86) for retirement plans and health and welfare plans following the Supreme Court’s approval of same-sex marriage nationwide in Obergefell, 2015-1 ustc ¶50,357.Obergefell requires that a state must license a marriage between two people of the same sex and must recognize same sex marriages performed out of state. (more…)
Enacted New Jersey legislation provides that interest may not be charged to a delinquent property taxpayer in a municipality that has experienced a flood, hurricane, superstorm, tornado, or other natural disaster (more…)
An S election is made by a small business corporation with the consent of its shareholders. Both the corporation and its shareholders must precisely follow the S election requirements or the election will not be valid. (more…)
FAQ – What are the 2016 optional standard mileage rates for automobile use?
The IRS has issued the 2016 optional standard mileage rates for calculating the deductible costs of operating an automobile for business, charitable, medical, and moving purposes (Notice 2016-1; IR-2015-137). The decline in gas prices appeared to spur the drop in the optional rates. (more…)