Tax | Cg Tax, Audit & Advisory

04 Mar

CG News, Coronavirus Tax Filing & Payment, COVID-19 Firm News, Tax

ALERT: Anticipated Tax Filing Extenstions

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March 4, 2021

CPA firms across the country, including Cg, are experiencing challenges with meeting the tax filing deadlines for partnerships, corporations, and individuals due to new tax laws, economic relief considerations, and tax agency delays related...

18 Feb

SBA, Tax

New Jersey Business Safe From State Taxes for Forgiven Paycheck Protection Program Loans

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February 18, 2021

We previously emailed you correspondence in connection with a proposed bill that would provide tax relief for COVID-19-affected New Jersey businesses when Paycheck Protection Program (PPP) loans are forgiven. In a press release from...

05 Feb

SBA, Tax

Proposed Bill Could Help NJ Businesses With Tax on Forgiven PPP Loans

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February 5, 2021

The Paycheck Protection Program (PPP) was created to provide relief for small businesses impacted by the COVID-19 pandemic. Many companies in New Jersey have both applied for and received these loans in the past...

27 Jan

Tax

2021 Tax Calendar

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January 27, 2021

To help you make sure you don’t miss any important 2021 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us...

01 Dec

Tax

Consider Reevaluating Your Tax Plans Based on the Outcome of the Presidential Election

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November 24, 2020

Now that Joe Biden has been projected as the winner of the presidential election by major news outlets,* you may wonder if your federal taxes will be affected. President-elect Biden campaigned on a broad agenda,...

10 Nov

Tax

IRS Clarifies State and Local Tax Deductibility for Partnerships and S-Corps

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November 10, 2020

IRS Notice 2020-751 provides regulations to be included in forthcoming guidance. Specifically, the proposed regulations will clarify that State and local income taxes imposed on and paid by a partnership or S corporation on...

02 Nov

Tax

What Do the 2021 Cost-of-Living Adjustment Numbers Mean for You?

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November 2, 2020

The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation, but some remained at 2020 levels. As you implement 2020 year-end tax planning...

22 Oct

Helpful COVID-19 Links, Tax

Unusual Year Steers Year-End Tax Strategies

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October 22, 2020

Like so many things this year, the recommended practices for your annual end-of-the-year tax planning reflect the COVID-19 pandemic and its far-flung effects. The economic impact, as well as federal relief packages like the...

11 Apr

Coronavirus Tax Filing & Payment, Federal Tax, Tax

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...

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