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Client Spotlight: Ozzie’s Luncheonette
If Longport could be said to have a landmark, that would be Ozzie’s. Ozzie’s opened in 1948 at the corner of 24th and Atlantic Avenue as a food market and a liquor store. Ozzie Lenzsch acquired the lots directly next door and opened the luncheonette in 1952. For...
Team Updates at Capaldi, Reynolds & Pelosi
Here's the round-up of recent happenings at Capaldi, Reynolds & Pelosi. Babies, Babies, Babies! CRP is excited to announce that three of our employees welcomed babies this summer! Congratulations to Steve Roff, Kelly Harris and Caitlyn Carter on your new bundles...
Adjusting to Life Financially After a Divorce
There's no doubt about it — going through a divorce can be an emotionally trying time. Now, more than ever, you need to make sure that your finances are on the right track. You will then be able to put the past behind you and set in place the building blocks that can...
Understanding Form 3520: Reporting Transactions with Foreign Trusts and Receipt of Foreign Gifts
Form 3520 is a critical IRS compliance document required for U.S. taxpayers who engage in certain transactions with foreign trusts or receive significant gifts or inheritances from foreign persons or entities. While it is an informational return (not a tax return...
The One Big Beautiful Bill Act
On July 4th, 2025 President Donald Trump signed the One Big Beautiful Bill Act (OBBBA). This bill has several important changes to various aspects of the tax regime. This article is a summary of the bill’s extension of expiring tax codes and updates for individuals,...
The Baby Boom is Now the Aging Boom
According to the Wall Street Journal, the US octogenarian population is expected to increase by 4 million over the next 5 years. The oldest “boomers” are approaching 80, and advances in technology and medicine mean that enjoying life well into one’s 90s is...
The Case for AI
Just for fun last week, I asked Google “How can I be sure my AI answer is correct?” and I think I DID get the correct answer: ”There is no definitive way for an AI to be 100% certain that its own answer is correct.” Hmmm. If AI itself is telling me to beware of what...
Navigating State Tax Nexus
Introduction The Supreme Court's landmark decision in South Dakota v. Wayfair, Inc. in 2018 transformed the landscape of sales tax compliance across the United States. Prior to this ruling, businesses were required to collect and remit sales taxes only if they had a...
Congratulations Jennifer Wallace
Congratulations to Jennifer Wallace, who is stepping into the role of President of the Atlantic-Cape May Chapter of the NJCPA. Jennifer has been involved in the leadership of the chapter for many years, and she looks forward to giving back to the profession, the...