Tax | Cg Tax, Audit & Advisory

11 Apr

Report Employee Retention Tax Credit

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April 10, 2020

Employers should report the employee retention tax credit on their returns for the 2nd quarter of 2020. The Coronavirus Aid, Relief, and Economic Security (CARES) Act supports certain employers that operate a business during...

17 Mar

Federal Tax, Tax

Emergency Coronavirus Bill

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March 20, 2020

On Saturday, the U.S. House of Representatives passed a multi-billion dollar bill to provide Coronavirus (COVID-19) relief. The Senate will take up the bill this week. Treasury Dept. Secretary Steven Mnuchin stated the bill...

12 Mar

Individual Tax, Tax

The 2019 Gift Tax Return Deadline is Coming Up

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March 10, 2020

If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2019 gift tax return. And in some cases, even if...

10 Mar

Federal Tax, Tax

Can You Benefit From the HCTC?

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March 6, 2020

Under the tax code, “eligible individuals” can claim a refundable Health Coverage Tax Credit (HCTC). The credit is for a part of the premiums they paid for qualified health insurance coverage for themselves and...

05 Mar

Individual Tax, Tax

Home is Where the Tax Breaks Might Be

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March 4, 2020

If you own a home, the interest you pay on your home mortgage may provide a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity...

03 Mar

Federal Tax, Tax

GAO Report on TCJA Progress

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February 28, 2020

The Tax Cuts and Jobs Act was signed into law in Dec. 2017. Since then, the IRS has issued a great deal of guidance to taxpayers to navigate the new tax laws. How is...

02 Mar

State & Local Tax, Tax

Update on 2019 Corporation Business Tax Returns

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March 2, 2020

2019 Corporation Business Tax returns (Forms CBT-100, CBT-100U, BFC-1, BFC-1-F, and CBT-100S) are still in the process of being finalized by the New Jersey Division of Taxation. Some tax software has not yet been...

27 Feb

Individual Tax, Tax

Tax Credits May Help With the High Cost of Raising Children

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February 25, 2020

If you’re a parent, or if you’re planning on having children, you know that it’s expensive to pay for their food, clothes, activities and education. Fortunately, there’s a tax credit available for taxpayers with...

25 Feb

Federal Tax, Tax

IRS Proposed Regs For TCJA Federal Income Tax Withholding Changes

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February 24, 2020

The IRS has issued proposed regulations to conform to the Tax Cuts and Jobs Act’s federal income tax withholding changes. The proposed regs are designed to accommodate the redesigned 2020 Form W-4, “Employee’s Withholding...

20 Feb

Individual Tax, Tax

Reasons Why Married Couples Might Want to File Separate Tax Returns

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February 18, 2020

Married couples often wonder whether they should file joint or separate tax returns. The answer depends on your individual tax situation. It generally depends on which filing status results in the lowest tax. But...

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