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Foreign Tax Implications for Individuals
By: Terri L. Marakos, CPA With the expansion of the global economy, the involvement of taxpayers in foreign activities has become commonplace. Even not-so-sophisticated investors often hold the securities of companies with foreign activities and that pay foreign...
Bankruptcy 101: Chapter and Verse
By Douglas S. Stanger, Esq. Shareholder of the Firm of Flaster/Greenberg PC and on the Panel of Trustees of the Department of Justice. While bankruptcies are generally down in most areas of the country, not here in Atlantic County. With many closed casinos and eight...
Canceled Debt – Is it Taxable or Not?
Canceled Debt – Is It Taxable or Not? If you borrow money and are legally obligated to repay a fixed or determinable amount at a future date, you have a debt. You may be personally liable for a debt or may own a property that is subject to a debt. If your debt is...
CRP Raffle Raises Funds for the Community Food Bank
This tax season Capaldi, Reynolds and Pelosi continued its longstanding support of The Community Food Bank of New Jersey, Southern Branch with a unique fundraiser. Each employee was given a chance in a drawing for Paid Time Off (PTO). Employees were also able to...
Tax Alert: New Overtime Rules Effective December 1, 2016
Under current law, most employees making $23,660 or less per year automatically qualify for overtime after 40 hours worked per week. The new rule recently issued by the U.S. Department of Labor (DOL) would raise that threshold to $47,476, effective December 1, 2016....
Retirement Planning: The Accumulation Phase
Retirement Planning is by far one of the most important areas of financial planning and one that we allocate a good portion of our time and resources to address. We break retirement planning up into two distinct phases: 1) Accumulation Phase 2) Distribution Phase The...
You Hit the Jackpot! Now What?
On your recent vacation to Las Vegas or on your night out at The Borgata you finally hit the big jackpot that you’ve been waiting for! Now what are the tax implications? Gambling income can come from various sources such as lotteries, casinos, raffles, bingo, etc....
Ways to Raise Capital
As accountants and advisors we are often asked by small business owners as to the best method to raise capital. The chart below seeks to provide some insight into various common methods for raising capital for small businesses. Please note methods, business types,...
Capaldi Reynolds & Pelosi Paddles for Gilda’s Club South Jersey
On July 9th, 20 of our most adventurous associates, friends and family members participated in the Inaugural Gilda's Club South Jersey Dragon Boat Festival. We joined about 30 other teams from our region to paddle down the Bay at Bader Field to help raise $90,000 for...