Tax | Cg Tax, Audit & Advisory

09 Jan

NJ Partnership Filing Requirements

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January 9, 2020

Attention, partners: The New Jersey Division of Taxation has updated its summary of partnership filing requirements. It includes explanations of 1) partnership registration, 2) the partnership filing fee that applies when a partnership has...

07 Jan

Federal Tax, Tax

Life Changes & Your Tax Refund

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January 6, 2020

Have you had a recent life change, such as a marriage, divorce, financial gain or financial loss? You can contact the Cg Team with any questions about changes in your financial situation. In addition,...

19 Dec

State & Local Tax, Tax

Beware of Scammers

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December 18, 2019

The New Jersey Div. of Taxation is warning taxpayers not to be fooled by callers pretending to be state tax collectors. According to the Division, it relies mainly on the mail to make the...

17 Dec

Federal Tax, Tax

Eligible Terminated S Corp Rules

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December 17, 2019

The rules that allow certain benefits to S corporations that revoke their S corporation status and become C corporations (referred to as eligible terminated S corporations, or ETSCs) are applicable only if the revocation...

10 Dec

Federal Tax, Tax

Protect Your Identity When Shopping Online

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December 9, 2019

Black Friday and Cyber Monday are over, but shopping-related scams persist. That’s why the IRS wants taxpayers to take these simple steps to protect their identities, their financial assets and their devices: Shop at...

05 Dec

State & Local Tax, Tax

New Jersey Surtax on Corporate Business Taxpayers

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December 4, 2019

New Jersey’s surtax on corporate business taxpayers nears its second year. The surtax rate has been 2.5% for tax years starting on or after Jan. 1, 2018, through Dec. 31, 2019. The rate becomes...

04 Dec

State & Local Tax, Tax

New Jersey Military Exemption

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December 12, 2019

One of the lesser known ways of lowering your New Jersey tax liability is through the Veteran’s Exemption. This will lower your New Jersey tax, but it is specific in requirements and demands a...

03 Dec

Federal Tax, Tax

TCJA & Business Travel

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December 2, 2019

The Tax Cuts and Jobs Act (TCJA) resulted in changes for some business travelers. The IRS has issued guidance in Revenue Procedure 2019-48 for these travelers and their employers to clarify the changes. The...

26 Nov

Federal Tax, Tax

Utilize IRS Tax Exempt Organization Search When Giving Back

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November 26, 2019

As the holidays near, many taxpayers are thinking about how they want to “give back” and donate to charities. An IRS tool lets taxpayers learn if the organizations they donate to qualify for a...

19 Nov

Federal Tax, Tax

IRS Issues Taxpayer Guidance on Specific Deductible Expenses

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November 18, 2019

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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