19
Nov
The Tax Cuts and Jobs Act suspended miscellaneous itemized deductions for tax years beginning after Dec. 31, 2017, and before Jan. 1, 2026. To reflect the change, the IRS has updated rules for using...
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12
Nov
With the 2020 tax-filing season approaching, taxpayers may want to take time now to determine if they or their families are eligible for significant tax credits. For example, the Earned Income Tax Credit (EITC)...
07
Nov
The IRS announced tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 provides details about these annual adjustments. The...
07
Nov
New net operating loss rules are discussed in a Technical Bulletin from the New Jersey Div. of Taxation. The rules are applicable for tax years ending on or after July 31, 2019. The bulletin...
05
Nov
When it comes to planning for next year’s tax return filing, the IRS urges taxpayers to wait no longer. To avoid tax-time surprises on their 2019 federal tax returns, taxpayers should start by using...
31
Oct
The New Jersey Div. of Taxation discusses the unitary business test. A newly issued technical bulletin addresses how the state will apply the test for tax years that end on or after July 31,...
29
Oct
Do you own a business and employ family members? If so, special tax treatment may apply. For example, if one spouse employs the other, the employed spouse’s wages aren’t subject to federal unemployment tax....
24
Oct
Do you want to know your New Jersey tax filing deadlines for the coming year? The NJ Dept. of Treasury has issued a tax calendar that covers most filing deadlines from Jan. 1 to...
22
Oct
Do you employ someone in your home to care for family members or do other household tasks? If so, you may owe what’s commonly called the “nanny tax.” The Social Security Administration has announced...
17
Oct
New Jersey corporations are being given an automatic extension for certain state business tax filings. The NJ Div. of Taxation says that taxpayers filing a CBT-100, CBT-100U, BFC-1 or CBT-100S, with an original due...