From New Jersey, Good News and No News

From New Jersey, Good News and No News

The IRS analyzed the legislation authorizing Payroll Protection Program loan forgiveness and, while it found that the forgiven debt was not income, it also found that the expenses paid with the loan funds were also not deductible.  It took legislation at the end of...
The Installment Sale: Definition and Benefits

The Installment Sale: Definition and Benefits

An installment sale can be a prudent tax strategy for someone who is selling property or an asset.  In an installment sale, the seller receives at least one payment after the tax year in which the sale happened. Rather than receiving the total contract price for the...