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CRP TAX BULLETIN AND UPDATE: REDEFINING NEXUS FOR SALES AND USE TAX PURPOSES
On June 21 of this year, the Supreme Court reached a decision in the South Dakota v. Wayfair case which could have a far-reaching impact on clients with sales and operations in multiple states. Prior to the ruling, case law dating back 26 years to the National Bellas...
Business Health Checkup: How advertising can help your business
Advertising is communicating with customers in an attempt to influence their buying behavior by conveying a persuasive message about your products or services. Although we may not recognize it, businesses around the world use every media outlet possible to advertise...
It’s time to think about 1099s
We get them from our banks, our retirement plans, and our brokers but are we ever required to issue a 1099? The 1099 series are information returns that report to the IRS various types of payments. This is then matched with the recipients’ reported income. In an...
Quickbooks Online? How to avoid common mistakes:
Get educated and get familiar! Sign up for a live seminar. Intuit/Quickbooks also offers free online webinars. You can go to https://quickbooks.intuit.com/tutorials/webinars/ to sign up for free classes. In addition, there are resources and video tutorials that will...
Tips for Employers
New Tips for Employers in New Jersey Federal Tax Credits The Work Opportunity Tax Credit allows employers that hire members of targeted groups who face employment barriers to claim a credit against income tax for a percentage of first-year wages. In a recent News...
OVDP or Streamlined: Choosing an Offshore Disclosure Program
by Patrick J. McCormick When clients admit to a retroactive failure to meet filing requirements involving their offshore assets, the overarching question is typically the proper route for making a disclosure to the U.S. IRS. For a multitude of reasons, ‘‘quiet’’...
Business Health Checkup: Current Ratio
Periodically we will highlight a ratio or benchmark and demonstrate how you can use it to better understand your business The disclaimer: Benchmarks and ratios, blindly applied, can be dangerous. Benchmarks can be useful in understanding areas to investigate, but it’s...
Plan Now for New Due Dates
While due dates for individual income tax returns, Form 1040, and estimated tax payments will remain the same, there are new requirements that affect individuals. One of the most important new deadlines for individuals is the April 15 deadline to file the FinCen 114,...
Ask an Accountant: What is Use Tax?
I file a Sales & Use Tax every month based on my taxable sales. I never remit Use Tax. What is it? Generally, Use Tax is due on out-of-state purchases of goods or services that would have been subject to sales tax had they been purchased New Jersey on which either...