New Jersey Income Tax Exemption for Veterans
New for 2017 You are eligible for a $3,000 exemption on your Income Tax return if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States on or any time before the last...
UPDATE – PA 1099 Withholding Requirements
Pennsylvania DOR delays the new 1099-MISC withholding requirements The Pennsylvania Department of Revenue has recognized that additional time will be needed for businesses and the department to be in compliance with the new withholding provisions of Act 43 of 2017,...
Bipartisan Budget Act (Extenders)
The Bipartisan Budget Act of 2018, signed February 9th, 2018 Retroactively Extended the Following Provisions (except as noted) through December 31st, 2017. Sec. 40201. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness....
R&D Credit for Small Business
The R&D Credit is not just for large corporations, but for all companies that design, develop or improve products, processes, techniques, formulas, inventions or software. In fact, if a company has simply invested time, money and resources toward the advancement...
Cyber Security
“Congratulations, you are the 1,000,000th person to visit this site! Click here to claim your $10,000 prize!” We have all seen these flashing boxes while browsing the web and dismiss them immediately for being a threat to our cyber security. A rule of thumb when it...
PA NEW 1099 WITHHOLDING REQUIREMENTS
Say Yes to Address – PA non-filed return notice
If you have not seen this notice yet, you will. PA has a glitch in their system which is generating CNI filing delinquency for pass-through entities for 2016. As pass through entities are no long required to file the RCT-101s after 12/31/15, these notices are...
New Financial Reporting Rules for Not-For-Profit Entities
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2016-14 that will change the structure and general financial statement presentation of not-for-profit entities. The goal of these changes is to improve the financial...
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