TAXATION


The Section 179 Deduction: It Has Come a Long Way
 

The Section 179 Deduction: It Has Come a Long Way

Posted: January 30, 2018
Internal Revenue Code Section 179, Election to Expense Certain Depreciable Business Assets, allows taxpayers other than estates and trusts to expense in full various fixed asset additions used in their trade or business in the year of acquisition with certain limitations. Find out what's necessary to claim a Section 179 expense deduction.


Understanding Tax Return Identity Theft
 

Understanding Tax Return Identity Theft

Posted: January 19, 2018
What exactly is tax identity theft and how can you tell if your client has fallen prey to it? Taxpayers may be made aware of tax return identity theft upon attempting to file their own return or may be alerted when the IRS issues a notice to the taxpayer that it suspects that tax return identity theft has occurred.

Rules for NJ and Federal Property Tax Deductions Vary Widely
 

Rules for NJ and Federal Property Tax Deductions Vary Widely

Posted: January 11, 2018
New Jersey taxpayers who prepaid one or two quarters of their 2018 property tax assessments at the end of 2017 need to be aware that the amount they can deduct on their federal tax return is not the same as the amount they can deduct on their state tax return.

Tax Season – A Different Kind of Boot Camp
 

Tax Season – A Different Kind of Boot Camp

Posted: January 3, 2018
How one survives tax season at a public accounting firm is often personal and cannot be explained. With long hours and countless demands on staff, senior management has come to offer innovative services to boost morale and keep clients coming back.

Visit IRS.gov for Data Protection Resources
 

Visit IRS.gov for Data Protection Resources

Posted: December 21, 2017
As part of the “Protect Your Clients; Protect Yourself” campaign, the IRS is looking to raise awareness among tax professionals about their legal obligation to protect taxpayer data and to highlight the security risks posed by identity thieves.

10 Strategies to Minimize Your Client
 

10 Strategies to Minimize Your Client's Taxes

Posted: September 25, 2017
Tax professionals are always looking for ways to help clients save money on their taxes. The following article lists 10 tax planning strategies to consider that may not be top-of-mind.


New IRS Audit Partnership Rules to Impact Tax Planning
 

New IRS Audit Partnership Rules to Impact Tax Planning

Posted: July 14, 2017
New proposed IRS tax regulations that create a more centralized approach to partnership audits raise important tax questions for firms and their clients. The issue was discussed at NJCPA's Annual Convention & Expo last month.

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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