We model the economic, revenue, and distributional effects of the following major provisions, effective after the end of 2025 unless other dates are specified: Individual Tax Provisions Estate Tax Provisions Business Tax Provisions
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,Continue reading "April 2022 Tax Deadlines for Business"
Upper Saddle River, NJ – Tsamutalis & Company is thrilled to welcome Rausa Barlotta & Associates, a highly respected firm renowned for its personalized accounting and tax services, to its team of professionals. This strategic partnership enhances Tsamutalis & Company’s service offerings and strengthens its ability to address the evolving needs of clients. Founded onContinue reading "Tsamutalis & Company Welcomes Rausa Barlotta & Associates, Expanding Its Footprint in the Accounting Sector"
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 theContinue reading "Are Economic Injury Disaster Loans (EIDL) Taxable 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: In responseContinue reading "How Does The PPP Loan Affect Your Small Business Taxes 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, theContinue reading "Many Overlooked Tax Deductions for Small Businesses in New Jersey!"
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 enoughContinue reading "Everything You Need to Know About Getting Your New Jersey Small Business Ready For Year End Taxes!"
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 toContinue reading "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 toContinue reading "year-end-taxes-blog-1-2048×1684"