cgadmin | Cg Tax, Audit & Advisory

19 Nov

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...

18 Nov

A&A

How to Keep Track of Small Tools and Equipment

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November 15, 2019

Whether it’s hard hats and drills on a jobsite, iPads in an office or RFID readers in a warehouse, small tools and equipment have a tendency to disappear at many companies. The cost of...

12 Nov

Federal Tax, Tax

You May Be Eligible for Tax Credits!

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November 11, 2019

With the 2020 tax-filing season approaching, taxpayers may want to take time now to determine if they or their families are eligible for significant tax credits. For example, the Earned Income Tax Credit (EITC)...

07 Nov

Federal Tax, Tax

IRS Announces Tax Year 2020 Annual Inflation Adjustments

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November 7, 2019

The IRS announced tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 provides details about these annual adjustments. The...

07 Nov

State & Local Tax, Tax

New NOL Rules

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November 6, 2019

New net operating loss rules are discussed in a Technical Bulletin from the New Jersey Div. of Taxation. The rules are applicable for tax years ending on or after July 31, 2019. The bulletin...

05 Nov

Federal Tax, Tax

Avoid Tax-Time Surprises and Plan Now!

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November 4, 2019

When it comes to planning for next year’s tax return filing, the IRS urges taxpayers to wait no longer. To avoid tax-time surprises on their 2019 federal tax returns, taxpayers should start by using...

04 Nov

Nonprofit

Need to know: Give Your Nonprofit’s Board the Right Information

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November 1, 2019

To properly fulfill their fiduciary duties, your not-for-profit’s board needs certain information. And it’s up to the executive director and managers to ensure they have it. This doesn’t mean you have to share every...

31 Oct

State & Local Tax, Tax

Unitary Business Test

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October 30, 2019

The New Jersey Div. of Taxation discusses the unitary business test. A newly issued technical bulletin addresses how the state will apply the test for tax years that end on or after July 31,...

29 Oct

Federal Tax, Tax

Special Tax Treatment May Apply for Employed Family Members

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October 28, 2019

Do you own a business and employ family members? If so, special tax treatment may apply. For example, if one spouse employs the other, the employed spouse’s wages aren’t subject to federal unemployment tax....

28 Oct

A&A

Reasons Why Cash is King

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October 25, 2019

In financial reporting, investors and business owners tend to focus on four key metrics: 1) revenue, 2) net income, 3) total assets and 4) net worth. But, when it comes to gauging short-term financial...

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Posts by cgadmin

IRS Issues Taxpayer Guidance on Specific Deductible Expenses

How to Keep Track of Small Tools and Equipment

You May Be Eligible for Tax Credits!

IRS Announces Tax Year 2020 Annual Inflation Adjustments

New NOL Rules

Avoid Tax-Time Surprises and Plan Now!

Need to know: Give Your Nonprofit’s Board the Right Information

Unitary Business Test

Special Tax Treatment May Apply for Employed Family Members

Reasons Why Cash is King