New Deductions for College Related ExpensesJanuary 26, 2022

The New Jersey Division of Taxation has advised that there will be three new deductions available for college related expenses in the 2022 tax year for taxpayers with gross income of $200,000 or less. Taxpayers will be able to deduct up to: (1) $10,000 of contributions made during the year to a New Jersey 529 …

Plenty of Lessons Past and PresentJanuary 3, 2022

Plenty of Lessons Past and Present

By: William C. McNamara, CPA, CCIFP® What lessons and knowledge have we gained in 2021? A great question many business owners should consider. Believing that I have learned way more in hard times than good, 2021 was a very good year for learning. Simply getting it right out of the box has taught me little. …

Business 2021 Year-End Planning TipsDecember 7, 2021

Business Year-End Tax Planning

With year-end approaching, there isn’t much time left to make many moves that may help lower your business tax bill for 2021. This year’s planning is more challenging than usual due to the pending legislation that could increase corporate tax rates starting next year as well as increase business owner’s individual tax rates. Here are …

Individual 2021 Year-End Planning TipsDecember 7, 2021

Individual Year-End Tax Planning

With year-end approaching, there isn’t much time left to make many moves that may help lower your tax bill for 2021. This year’s planning is more challenging than usual due to the pending legislation that could, among other things, increase top tax rates on both ordinary income and capital gain starting this year. Here are …

Curchin Open Cancelled; Donations Still EncouragedOctober 26, 2021

We’ve made the difficult decision to cancel this year’s edition of our indoor miniature golf tournament for charity, the Curchin Open, scheduled for November 10th. While we were hoping and planning to reinstate the event, a mini-golf gathering in our office simply wouldn’t be the same as it used to be with all of the …

NJ State Press Release: Governor Murphy Signs Legislation to Protect New Jersey Workers, Employers From Unlawful MisclassificationJuly 28, 2021

TRENTON – Building on his commitment to making sure that workers and employers in New Jersey are treated fairly, Governor Phil Murphy today signed a four-bill legislative package furthering state efforts to stop employee misclassification.  Misclassification is the practice of illegally and improperly classifying employees as independent contractors. This practice deprives workers of the right to earn minimum wage and overtime, workers’ compensation, unemployment, earned …

Latest NJ Legislation NewsJuly 9, 2021

Latest NJ Legislation News

Below please find the most recent New Jersey legislation items outlined below.   The first outlines the appropriation for the NJ Homestead Benefit program, the second discusses a new deduction for higher education expenses effective January 1, 2022, and the third discusses an updated deduction effective January 1, 2021, for an increased pension/retirement income deduction. NJ …