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The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and S corporations won’t be required to file the schedules, which are intended to make it easier for partners and shareholders to find information related to “items of international tax relevance” that they need to file their own returns. In 2021, the IRS released guidance providing penalty relief for filers who made “good faith efforts” to adopt the new schedules. The IRS has indicated that its latest, more sweeping move comes in…
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On Thursday, March 3rd, Harlene Stevens, CPA, Matheu Nunn, Esq., and Alyssa Engleberg, Esq., partnered to host part-two of a two part webinar series, The Financial Implications of Divorce. Our presenters discussed the many different financial aspects of a divorce/break-up from both a tax and legal perspective. Whether you or someone you know is already married, is thinking about getting married, or is going through a break-up or divorce, the discussion topics might be relevant to you. You can access a full recording of Part 1 here. Topics for discussion included: Post-Nuptial Agreements & Mid-Marriage Agreements Alimony Child Support Equitable…
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1. NJEDA Small Business Improvement Grant The Small Business Improvement Grant offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment. AMOUNT 50% of eligible total project costs up to $50,000 BENEFITS Businesses may be reimbursed for capital improvements, or purchase and/or installation of new furniture, fixtures, and equipment ELIGIBILITY Open to small businesses and nonprofits Minimum project cost of $5,000 Applicant must rent or own facility being improved *Additional terms apply. See eligibility on the NJEDA website. 2. NJEDA Main Street Micro Business Loan Main Street Micro Business Loan will provide low-cost financing…
Read MoreSBA Roundtable – Project Planning & Key Financing Considerations of a Referendum, March 21, 2022
On Monday, March 21st, our Government Audit Partners, Kathi Mantell, Valerie Dolan, Heidi Wohlleb, and Man Lee hosted a School Business Administrator (SBA) Roundtable to discuss Project Planning & Key…
Read MoreCMFO Roundtable: The American Rescue Plan – Final Rule Updates, March 11, 2022
On Friday, March 11th, we hosted our first CMFO Roundtable discussion of 2022, where presenters discussed the American Rescue Plan Act, including Final Rule changes, updates on the bill, implications…
Read MoreThe IRS Again Eases Schedules K-2 and K-3 Filing Requirements for 2021
The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and…
Read MoreThe Financial Implications of Divorce: Part 2 Webinar Recording
On Thursday, March 3rd, Harlene Stevens, CPA, Matheu Nunn, Esq., and Alyssa Engleberg, Esq., partnered to host part-two of a two part webinar series, The Financial Implications of Divorce. Our…
Read MoreNew Tax Reporting Requirements for Payment Apps in 2022 Could Affect You
If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect…
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