Division of Taxation Mails ANCHOR Benefit Confirmation LettersAugust 17, 2023

Division of Taxation Mails ANCHOR Benefit Confirmation Letters

The New Jersey Division of Taxation has begun mailing letters to taxpayers who received property tax relief benefits through the ANCHOR program last year will soon receive a letter that confirms their eligibility for the 2020 tax year and notification that they will not need to re-file an application to receive a check or direct …

Recent New Jersey Tax UpdatesJuly 19, 2023

New Jersey Tax Update

Businesses Income Sourcing – Effective January 1, 2023, the sourcing rules for Gross Income Tax purposes will follow the Corporation Business Tax sourcing rules. A taxpayer that engages in a trade or business, a partner in a partnership or a shareholder of an S Corporation that conducts business operations inside and outside of New Jersey …

Vexing Questions in the Construction Business—and in the MetaverseMarch 8, 2023

Vexing Questions in the Construction Business—and in the Metaverse

Construction companies build the world around us. They’re also impacted by the world around them. Virtually every economic trend, market condition and regulatory change directly affects builders in some form. In its 2023 forecast, the Construction Financial Management Association (CFMA) discussed material costs, infrastructure opportunities, the labor squeeze and more. Now well into 2023, we …

Key Individual Provisions in SECURE 2.0January 16, 2023

SECURE Act

In late December while most practitioners and their clients were busy with other things, Congress was passing a giant omnibus budget bill. Buried within it was the Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0), which contains many retirement (and some other) changes that practitioners and their clients need to …

5 Key Takeaways from CFMA’s 2023 Economic Outlook PresentationDecember 28, 2022

CFMAs2023EconomicOutlook

Ready to hit the ground running toward your 2023 goals for your construction business? Fantastic. Full steam ahead. To help you navigate the new year, Bill McNamara from Curchin’s construction accounting team attended a 2023 forecasting webinar hosted by the Construction Financial Management Association (CFMA) and led by widely respected economist, Anirban Basu. The presentation …

3 Things Contractors Need to Know in the Wake of Hurricane IanDecember 15, 2022

Wake of HurricaneIan

Generational vacations and retirement migration from New Jersey down to Florida have built a bridge for Garden State residents and Sunshine State property. Construction companies up here build homes down there. Numerous homes owned or built by New Jerseyans were recently destroyed by one of the worst hurricanes to ever strike the U.S. in Hurricane …

Fall 2022 NewsletterNovember 9, 2022

Curchin Fall Newsletter 2022

The latest issue of the Curchin Newsletter is here! You can look forward to reading about hot topics in accounting/tax/audit, firm news, and more! In this issue: End of Year Planning for Construction Companies Read More

Child Tax CreditOctober 17, 2022

ChildTaxCredit

The New Jersey Division of Taxation has advised that starting with the tax year 2022, eligible New Jersey residents can claim a refundable child tax credit on their New Jersey Resident Income Tax Return (Form NJ-1040). The credit amount can be up to $500 for each dependent child age 5 or younger at year-end that …