Confused by the many new tax laws? Let our summary of the deductions for qualified business income, mortgage interest, real estate taxes, and student loan interest assist you. Includes an explanation of the new capital gains tax and gifting provisions. Click here for the summary:Continue
Added by Pamela Avraham on January 4, 2019 at 12:36pm — No Comments
The Clock is Ticking…NJ Tax Amnesty Program Runs Through Jan. 15, 2019
Businesses and individuals with unpaid NJ tax liabilities may be able to get a break on penalties under the Amnesty Program which is in effect from November 15, 2018 through January 15, 2019. The measure applies to all state taxes including gross income, corporate business tax and sales and use tax. However, it does not apply to…Continue
Added by Pamela Avraham on December 12, 2018 at 11:03am — No Comments
NJ Employers recently received a NJ Notice of new unemployment rates. This is not an invoice. It is an opportunity to make a voluntary payment to reduce your NJ unemployment rates. But there is a deadline soon. For more information click here:NJ Unemployment Taxes Voluntary Payment
Added by Pamela Avraham on August 1, 2018 at 10:38am — No Comments
Owe back taxes to NJ?
Haven't filed your NJ business or personal income tax returns?
Now is the time to file your delinquent NJ Tax Returns and pay your back taxes.
NJ will abate ALL penalties and one-half of the interest.
For more information click here: …Continue
Added by Pamela Avraham on July 27, 2018 at 9:32am — No Comments
There are new and exciting changes to 529 plans. The new tax act allows qualified expenses from 529 plans of up to $10,000 per beneficiary per year to be used for elementary and secondary school expenses. These expenses include tuition at religious institutions.
Now Savta can help her grandchildren save for Jewish day schools and yeshivot.
For many of the other…Continue
Added by Pamela Avraham on February 6, 2018 at 11:43am — No Comments
Your child probably knows a lot more about technology—from designing a website to posting on social media—than you ever will. At many family businesses, Junior may already be helping with a variety of digital and other tasks.
Have you considered paying your kids for their work? Besides motivating them, putting kid(s) on the payroll is an attractive way to transfer assets to them while saving taxes. You might be able to help them fund their college costs or purchase a home…Continue
Added by Pamela Avraham on September 14, 2017 at 2:11pm — No Comments
You must leave specific consent to control your digital assets to your power of attorney, executor or social media provider in order for your appointee to access your account. For more details, click here:Digital Assets
Added by Pamela Avraham on August 30, 2017 at 12:18pm — No Comments
Not all foreign securities were created equally. Foreign mutual funds are considered PFICs (Passive Foreign Investment Companies) and are subject to complex tax rules. Those owning PFICs should make sure they are reported them correctly. For more details click here…Continue
Added by Pamela Avraham on August 22, 2017 at 11:27am — No Comments
NJ Employers Face August Deadline to Reduce SUI Contribution Rates
Did you check your NJ SUI rates?
On July 28, 2017, the annual Notice of Employer Contribution Rates were mailed to all New Jersey employers. This is not a bill, but rather a summary of the way the NJ Department of Labor calculates the employer contribution…Continue
Added by Pamela Avraham on August 14, 2017 at 10:00am — No Comments
In charged of mom or dad's estate? Overwhelmed by the myriad of responsibilities and complexities?
This position is a tremendous undertaking. Use our Executor Checklist as your GPS
Please call with any questions and let us know how we can assist you with the estate administration and tax issues.
Urbach & Avraham,…Continue
Added by Pamela Avraham on January 26, 2017 at 7:00pm — No Comments
Going through a Divorce? Overwhelmed?
Urbach & Avraham, CPAs Offers a Divorce Checklist
When a couple ties the knot, they plan on a lifetime union. Unfortunately, close to 50 percent of
marriages end in divorce. A divorce is never pleasant, but careful planning may make the process less stressful and enable you to obtain a better financial arrangement. To help you through this difficult time, Urbach & Avraham, CPAs has…
Added by Pamela Avraham on December 20, 2016 at 7:20pm — No Comments
With more than three million temporary and contract employees working for America’s staffing companies, demand for other-than-permanent workers continues to stay strong.
One goal for many staffing firms involves multi-state expansion. Having a presence in more than one state acts as a buffer against a slowdown in one location; and it enhances the firm’s image, helping it pitch to large companies with multistate operations.
But staffing firms as…Continue
Added by Pamela Avraham on October 31, 2016 at 12:31pm — No Comments
By: Jeffrey D. Urbach, CVA, CPA/ABV/CFF
At some point in the difficult divorce process you will be asked to fill out a CIS (Case Information Statement). The CIS is a financial disclosure document which, among other things, establishes your standard of living while married.
Schedule C of the CIS has a line where you put your historical savings/investments. Although the CIS shows monthly expenses (assuming 4.3 week/mo.), simply take your annual savings and divide…Continue
Added by Pamela Avraham on October 27, 2016 at 3:22pm — No Comments
Are you the Guardian of Mom, Dad or a sibling? Are you an attorney, health care practitioner or financial adviser who works with individuals with disabilities or the elderly?
Urbach & Avraham has been active in The Guardianship Association of NJ (GANJI) for over 20 years. GANJI is presenting its 17th annual conference on March 15, 2016 at the Forsgate Country Club in Monroe Township, NJ.
Who Should Attend?
Attorneys, professional and family…Continue
Added by Pamela Avraham on February 11, 2016 at 8:32pm — No Comments
If you are the executor of an estate or the trustee of a trust, you should know that egregiously high income tax rates apply to estates and trusts at very low levels of income. In 2015, for estates and trusts, the 39.6% income tax rate as well as the 3.8% Net Investment Income (NII) tax kicks in at $12,300 of income. That’s not very high. And don’t forget, you don’t need $12,300 of investment income to pay the NII tax. If the total income exceeds the $12,300 threshold, the…Continue
Added by Pamela Avraham on February 2, 2016 at 4:56pm — No Comments
NJ Employers may reduce their NJ Unemployment Rates by making a Voluntary Payment by Aug. 25th. Unemployment expense is very steep in NJ and a major expense for employers with high payrolls. For more details see:
Added by Pamela Avraham on August 13, 2015 at 11:01pm — No Comments
Added by Pamela Avraham on January 28, 2015 at 7:08pm — No Comments
Non-residents can file the appropriate tax forms to recoup the amount that was withheld. Click the link for the details. Non-Resident recoup of NJ Exit Tax
Added by Pamela Avraham on January 22, 2015 at 2:27pm — No Comments
Turn OSHA Decision for NJ Staffing Agencies into an Opportunity to Shine
A recent case involving the U.S. Department of Labor's Occupational Safety & Health Administration (OSHA) and some New Jersey staffing agencies sends a signal that temporary staffing agencies are obligated to do more than just place people in a job.
In certain circumstances, agencies must also provide adequate medical evaluations, training and other services, according to OSHA, which recently…Continue
Added by Pamela Avraham on January 21, 2015 at 10:35am — No Comments
Employees in NJ now have six years, instead of two years, to bring certain claims for additional wages, thanks to a decision handed down by the NJ Federal District Court. NJ DOL audits are on the increase. For more details click here:
Added by Pamela Avraham on January 20, 2015 at 1:07pm — No Comments