Yes, We Do Yoga Here

Yes, We Do Yoga Here

Ah…. Check out the post-yoga glow on those happy faces!!!! You could never tell that this picture was taken in the middle of a crazy busy tax season with all the stress and drama that comes with it. Yes, we do yoga here: 45 minutes twice a week, actually.

We meditate too. Every day for 15 minutes! If you hear the sound of a gong while at our office, it signals meditation time. This is a perfect opportunity for us to reset, reduce stress, and be present. We enjoy having the opportunity to take good care of our mental and physical health without leaving the office building! Here is to a happy and healthy tax season. Namaste.

Parking Tax Repealed for Non-Profits

Parking Tax Repealed for Non-Profits

On December 20, 2019, Congress repealed Section 512(a)(7), commonly referred to as the “parking tax”,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 taxable income (“UBTI”) by amounts paid for qualified transportation fringe benefits provided to employees, including the provision of parking and public transportation benefits.  Read more

Finally, a New W-4

Finally, a New W-4

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 2018 and their tax liabilities since Form W-4, the instructions to employers on how much to withhold from an employee’s pay for federal income taxes, hadn’t been revised to reflect those changes.
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Can an SOC Report Help your Service Organization?

Can an SOC Report Help your Service Organization?

System and Organization Controls (SOC) are actually a suite of different service offerings CPAs provide in connection with either system-level controls of a service organization or entity-level controls of other organizations. SOC reports are designed to help Service Organizations build trust and confidence in their capabilities with a report by an independent CPA. 
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Planning for Medicare Taxes, Premiums and Surcharges

Planning for Medicare Taxes, Premiums and Surcharges

Recently, Francis C. Thomas, CPA, PFS published an article on Medicare Planning in the Journal of Accountancy, published by the American Institute of Certified Public Accountants. We are happy to share the link to that article with you here.

In this article, Frank shares an overview of the different plans available, as well as how taxes are assessed, premiums, surcharges, and some smart Medicare planning strategies.

https://www.journalofaccountancy.com/issues/2019/nov/medicare-taxes-premiums-surcharges.html

 

 

Private Equity Investors in Medical/Dental Practices

Private Equity Investors in Medical/Dental Practices

For over a decade, private equity groups have been investing capital in dental practices. Many national dentistry groups have expanded or evolved from some of the largest investments of private equity funds. Often there are a series of such investments and, because there does not yet appear to be market saturation, these types of transactions with dental practices are expected to continue for some time.
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Don’t be the victim of a tax scam

Don’t be the victim of a tax scam

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 paying without consulting your tax preparer. Don’t do it. Whenever you receive a notice, your preparer should be copied for an opinion on how to deal with it.
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This is not a scam!

This is not a scam!

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 resources have not been adequate to address these issues.
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Celebrating Anniversaries

In recent months, we at Capaldi Reynolds & Pelosi, P.A., welcomed new staff, Brian Dziobak, Chris Hill, Janice Swank, Craig Mortensen, Joanna Muller and Patrice Girard to our team.  We pride ourselves on providing an enriching, balanced work life for our staff to thrive.  The best example of our success, our shining moment, is to acknowledge staff who are celebrating anniversaries with our firm.

Capaldi Reynolds & Pelosi staff we are celebrating this year:

Lois Fried, Partner, celebrating 35 years; John Moller, Partner, 25 years; Michael Reynolds, Partner, 20 years; Denise Burcaw, Admin Supervisor, 15 years; Szu-Lun (Allen) Hsu, Principal, 15 years; Viktoryia Olunina, Principal, 10 years; Marta Criales, Senior Accountant, 5 years; Frederick Crum, Senior Accountant, 5 years; Quinn Do, Senior Accountant, 5 years; Clayton Himstedt, Principal, 5 years; Gabriela Lara, Senior Accountant, 5 years; Anna Marie Donohue, Senior Admin Assistant, 5 years; Richard Pollard, Senior Principal, 5 Years; Larry Horowitz, Senior Principal, 5 years.

Our sister firm, CRA Financial Services, LLC is celebrating the anniversaries of Donna Savastani, Chief Compliance Officer, 10 years and Patricia Sandland, Client Services Personnel, 10 years.

We wish you all continued success!

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Contact Us

332 Tilton Road
Northfield, NJ 08225
phone: (609)641-4000
email: info@capaldireynolds.com

 
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