2022 Enhanced Business Meal DeductionJune 16, 2022

Here is a reminder for the 2022 enhanced business meal deduction. For 2021 and 2022 only, businesses can generally deduct 100% of the cost of business-related food and beverages purchased from a restaurant. The deduction limit is usually 50% of the cost of the meal. Qualifying for the enhanced deduction. To qualify for the enhanced business …

Introducing our 1st Curchin Cornhole Classic Event!June 15, 2022

The Curchin Group, LLC, a mid-sized, full-service accounting firm based in Red Bank, N.J., announced today a new outdoor edition of their annual charity event, the Curchin Open, benefitting local non-profits. The 1st Curchin Cornhole Classic event will be an outdoor cornhole tournament for teams of two players. Event Overview Each company that participates will …

IRS Boosts Standard Mileage Rates for Rest of 2022June 10, 2022

IRS increases mileage rate for remainder of 2022

The IRS has announced that the standard mileage rates are increasing. Beginning July 1, 2022, the rates are 62.5 cents per mile for business use of an automobile and 22 cents per mile for costs of using an automobile as a medical or moving expense. The standard mileage rates are an optional method, in lieu …

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 …