News

New Jersey Provides Sales Tax Guidance to Marketplace Sellers
 

New Jersey Provides Sales Tax Guidance to Marketplace Sellers

Posted: November 1, 2018
Effective Nov. 1, online marketplace sellers and facilitators are required to collect and remit sales tax for sales and services delivered into New Jersey. Here is some guidance from the New Jersey Division of Taxation.

401(k), IRA Contribution Limits to Increase
 

401(k), IRA Contribution Limits to Increase

Posted: November 1, 2018
The IRS has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.

FASB Improves Consolidation Accounting
 

FASB Improves Consolidation Accounting

Posted: October 31, 2018
The Financial Accounting Standards Board has issued an Accounting Standards Update that reduces the cost and complexity of financial reporting associated with consolidation of variable interest entities.



Controversial CBT Clean-Up Bill Signed Into Law
 

Controversial CBT Clean-Up Bill Signed Into Law

Posted: October 5, 2018
Legislation that was intended to “clean up” New Jersey's new corporate business tax bill was signed into law with provisions vehemently opposed by the NJCPA and other business groups.

IRS Issues Guidance on Business Meal Deductions
 

IRS Issues Guidance on Business Meal Deductions

Posted: October 3, 2018
Taxpayers may continue to deduct 50 percent of the cost of business meals if the taxpayer (or an employee of the taxpayer) is present and the food or beverages are not considered lavish or extravagant.



IRS Issues 2018-19 Per-Diem Rates
 

IRS Issues 2018-19 Per-Diem Rates

Posted: September 27, 2018
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses.