Tax Archives - Capaldi Reynolds & Pelosi, P. A.

New Jersey Property Tax Relief

Jan 15, 2025 | Tax

In September of 2023, we reported on the existing and pending legislation offering property tax relief to New Jersey homeowners and tenants . A Stay NJ Task Force was appointed to develop recommendations for “establishing and funding uniform property tax relief to all...

The Sunset of the Tax Cuts of 2017

Jan 15, 2025 | Tax

During the first Trump presidency there was a major change in how businesses and individuals were taxed, but that was not a permanent change. The Tax Cuts and Jobs Act of 2017 (TCJA) is scheduled to sunset in 2025 and, if it does, the regulatory framework will revert,...

Getting Organized: 2024 Taxes

Jan 15, 2025 | Capaldi Reynolds & Pelosi, Tax

Happy 2025! This year we will again be implementing a deadline for all our individual tax return clients to provide us their tax documents in order for us to get our work completed by the original due date of April 15,2025. Please provide your tax documents no later...

An Update on Employee Retention Credit Claims

Sep 5, 2024 | Business, Tax

Did you claim the ERC (Employee Retention Credit) and are you still waiting for it to be processed? The IRS suspended processing of ERC claims submitted after September 14, 2023, amid allegations of widespread fraud. There is good news for the businesses that were...

Navigating Taxable Transactions with Digital Assets: What You Need to Know

May 14, 2024 | Cryptocurrency, Tax

In the ever-evolving landscape of finance, digital assets have emerged as a prominent player, offering a decentralized and borderless alternative to traditional currencies and assets. However, as the popularity of digital assets grows, so does the need for clarity on...

Beneficial Ownership Information Reporting

Dec 13, 2023 | Business, Tax

On September 29, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCen) issued a final rule implementing the bipartisan Corporate Transparency Act’s beneficial ownership (BOI) reporting provisions. The new rule will require business...