TAXATION


The Surprising Impact of the SALT Deduction Limit
 

The Surprising Impact of the SALT Deduction Limit

Posted: January 18, 2019
As we move through the current tax season, clients will be reminded how the Tax Cuts and Job Act (TCJA) has impacted their tax situation. When it was enacted, many of our clients were justifiably concerned that the new $10,000 limit on the deductibility of those taxes on their Form 1040 would negatively affect them. Find out how they fared.

Beyond Section 199A: Other TCJA Tax Changes
 

Beyond Section 199A: Other TCJA Tax Changes

Posted: January 18, 2019
While the Section 199A deduction has overshadowed many of the other various federal tax changes — as it should, it’s a pretty big deal — let’s not forget about additionally important business and individual provisions that will affect just about everyone.

Understanding Section 199A
 

Understanding Section 199A

Posted: January 8, 2019
While the addition of a SALT deduction limitation in the Tax Cuts and Jobs Act hurt many taxpayers, the new Section 199A deduction may create a more favorable tax outcome for some. Learn the basics.

Tax Season Checklists — Part Two
 

Tax Season Checklists — Part Two

Posted: December 18, 2018
Tax season is busy, so preparing for it now will reduce the stress experienced January through April and help reduce exposure to professional liability risk. Pre-tax-season training of personnel and proactive review of administrative procedures will improve efficiency through April 15 and beyond.

Tax Season Checklists — Part One
 

Tax Season Checklists — Part One

Posted: December 11, 2018
Planning for the upcoming tax season is an important step in managing the professional liability risk associated with providing tax services. This set of pre-tax-season checklists provide many suggestions firms should consider in planning for this work.

The Classification of Workers in the Era of Tax Reform
 

The Classification of Workers in the Era of Tax Reform

Posted: December 7, 2018
In an effort to prevent the misclassification of workers, the government employs a multi-faceted approach. How big is the employee misclassification problem today, and what is the government currently doing about it?

Managing the Compression of Tax-Season Work
 

Managing the Compression of Tax-Season Work

Posted: November 20, 2018
There are many ways a firm can prepare in order to reduce stress and manage the work compression of a busy tax season. These include evaluating clients, training new staff and frontloading any work possible.

Record Retention for Tax Return Preparers
 

Record Retention for Tax Return Preparers

Posted: November 19, 2018
The rules on record retention can be complex. It's important to stay up to date on federal, New Jersey and New York record retention requirements and recommendations for tax preparers.

New Streamlined 1040 Tax Form for 2019 Is Not So Simple
 

New Streamlined 1040 Tax Form for 2019 Is Not So Simple

Posted: September 28, 2018
The Internal Revenue Service’s decision to streamline the 1040 tax form for the 2019 tax filing season is leaving some taxpayers as well as certified public accountants (CPAs) with more work. Read to find out more.

The Federal Taxation Interest Group provides an open forum to discuss and educate members on Federal taxation issues, both domestic and international. 

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