Northfield NJ CPA – Tax, Accounting & Consulting Services (609) 641-4000  |  info@capaldireynolds.com

TAX PORTAL
What You Need to Know About the SECURE Act

What You Need to Know About the SECURE Act

Feb 14, 2020 | Estate Planning, Retirement, Tax

Late last year, Congress passed bipartisan tax legislation that President Trump promptly signed into law on December 20, 2019.  The legislation included the “Setting Every Community Up for Retirement Enhancement (SECURE) Act”, which is mainly intended to expand...
Parking Tax Repealed for Non-Profits

Parking Tax Repealed for Non-Profits

Feb 14, 2020 | Non-Profit, Tax

On December 20, 2019, Congress repealed Section 512(a)(7), commonly referred to as the “parking tax”, imposed on fringe benefits of non-profit organizations pursuant to the 2017 Tax Act.  The provision required tax-exempt employers to increase their unrelated business...
Finally, a New W-4

Finally, a New W-4

Dec 23, 2019 | Business, Tax

The Tax Cuts and Jobs Act (TCJA) made significant changes in the way an individual’s tax liability would be computed, from changing the tax rates to eliminating the deduction for dependents. Many taxpayers were surprised at the disconnect between their withholding for...
The Tax Cuts & Jobs Act: What you need to know for 2019 taxes

The Tax Cuts & Jobs Act: What you need to know for 2019 taxes

Dec 23, 2019 | Tax

The Tax Cuts and Jobs Act was the most significant set of changes to the U.S. tax code in several decades. Most changes went into effect with the 2018 tax year. Here is what you need to know for the 2019 tax year filing: Standard deduction is as follows: Single...
Don’t be the victim of a tax scam

Don’t be the victim of a tax scam

Dec 23, 2019 | Tax

Earlier this month the best bit of tax scamming I’ve seen in my career crossed my desk. While there are many red flags on the document below, at first blush it’s the real deal, a balance due notice from the IRS. And not an outrageous bill; something you might consider...
This is not a scam!

This is not a scam!

Dec 23, 2019 | Tax

The IRS has announced that it will conduct special “compliance efforts” for businesses and individuals in various communities. The purpose is to meet face-to-face with taxpayers with ongoing tax issues. These meetings will take place in areas where the Service’s...