FinCEN recently shed light on how entities that are disregarded from their owners for Federal income tax purposes should handle tax identification numbers (TINs) under the Corporate Transparency Act (CTA)....
With the rise of the gig economy, a lot of people have opted to turn their hobbies into profitable ventures. In turn, the lines are blurring between hobbies and small businesses, provoking many people to wonder what it means for their taxes. So, what is...
Have you ever wondered how you’re supposed to determine whether your organization is eligible for exemption from federal income tax? The possibility of being tax-exempt is permitted under section 501(a) of the Internal Revenue Code. But what about determining private foundation status? Well, that is covered...
In recent years, the security of tax payments has become an increasingly pressing issue for individuals and businesses alike. As CPAs, we have witnessed cases where estimated tax payments made by check have been intercepted and stolen, highlighting the vulnerabilities associated with traditional payment methods....
Advantage Plans are offered by private companies, such as UnitedHealthcare and Humana, approved by Medicare. They are all-in-one programs that may appear to provide advantages over original Medicare, such as reduced or nonexistent premiums. But it is a balancing act, as they may require higher...
For the 13th year, we have received the NJBIZ Best Places to Work in New Jersey Award for companies with 15-49 employees. We are thrilled to have won again. “We pride ourselves on our ‘work hard, play harder’ culture that keeps everyone motivated through tax seasons...
