Without fail, at the beginning of every calendar year, we are contacted by both businesses and individuals to inquire about, or rather, confirm tax deadlines. Because Washington D.C. observes the April 16th holiday, Emancipation Day, which happens to fall on a Saturday this year, the holiday will instead be observed the day prior, April 15th, […]
Are Economic Injury Disaster Loans (EIDL) Taxable in New Jersey?
Before we respond as to whether Economic Injury Disaster Loans (EIDL) are taxable in New Jersey, let’s begin by defining what an EIDL is, its purpose, how it is used, and who is eligible to apply for them. Economic Injury Disaster Loans (EIDL) are made available through the Small Business Administration (SBA), and are the […]
How Does The PPP Loan Affect Your Small Business Taxes in New Jersey?
Based on recent Google Trends, many small businesses have been searching “How does the PPP loan affect your small business taxes in New Jersey?” Let’s answer that question by first posing some pertinent, related questions you may already have that will better help to bolster and clarify our answer to the main question: What if […]
Many Overlooked Tax Deductions for Small Businesses in New Jersey!
Cutting right to the proverbial chase, many small businesses simply don’t realize how much they can save. Let us show you these simple tax deductions that can really save you money. However, just to backtrack a bit prior to outlining these deductions, simply realize that the more legitimate tax deductions your business can take, the […]
Everything You Need to Know About Getting Your New Jersey Small Business Ready For Year End Taxes!
Year-End Tax Preparation Year-end tax preparation for your small business in New Jersey can be extremely time-consuming, not to mention, difficult and often frustrating. However, it is important to note that your business could potentially face penalties if you were to fall out of compliance with the ever-changing U.S. tax code, which, is reason enough […]
Everything You Need to Know About Employee Retention Credit for Small Businesses!
COVID-19 not only took a heavy toll on businesses from the readily recognized standpoint of lost sales and services revenues that were not or could not be generated but also on the proverbial back end, as businesses still had to deal with the mounting challenges of having to meet their financial commitments and responsibilities to […]
Small Businesses In New Jersey – How To Apply for Your PPP Loan Forgiveness!
Regarded by some as a necessary evil in the midst of these extraordinarily challenging times, not only to help keep small businesses afloat and hopefully remain prosperous, but also to help keep Americans employed and the economy chugging along during COVID-19, the Paycheck Protection Program, also known as the PPP, has provided the necessary means […]
Steps to Help Small Businesses In New Jersey Prepare for the Upcoming Tax Season
Many people think of tax season as of February, March, and the first part of April. But the reality is for small business owners in New Jersey; there are many things you can be doing in December to close out finances and prepare for a smooth upcoming tax season. Waiting until the last minute to […]
7 Tax Reform Changes That Affect Your Bergen County NJ Business
More than two years have passed since President Donald Trump signed into law the Tax Cuts and Jobs Act of 2017, also known as Tax Reform. In the minds of many Bergen County NJ business owners, that December 22, 2017, event is not at the forefront of operating their businesses. However, some of the changes […]