NJCPA Focus

NJCPA Focus is an informative blog that discusses timely issues, trends and developments in the accounting industry from NJCPA members, staff and other professionals. 

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    The Overlooked Step: Understanding the Importance of Internal Controls

    Posted: February 7, 2025
    Accountants and CPAs must advocate for internal controls not only as a best practice but as a critical component of financial systems. Internal controls are not just technical tools — they are essential safeguards that protect organizations from financial risks
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    It’s Time to Modernize the Painfully Obsolete $150,000 PAL Threshold

    Posted: February 5, 2025
    Every CPA who handles real estate clients is familiar with the $150,000 passive activity loss (PAL) limitation. Part of our role is to warn clients just how quickly a teacher-and-firefighter household, or two average professionals, can lose these crucial tax benefits.
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    5 Tactics Used by Highly Effective Leaders in the Heat of Busy Season Battles

    Posted: February 4, 2025
    Like elite sports teams and military units, high-performing accounting firms hold their composure during times of duress. Firms with a strong culture and governance model are particularly well equipped to handle “battlefield” conditions.
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    3 Best Practices for Budgeting Success

    Posted: January 24, 2025
    For accountants, helping businesses navigate budgeting effectively is not just about balancing numbers — it’s about enabling them to achieve their financial and operational goals and make informed decisions.
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    How New Jersey Residents Can Avoid Double Taxation on New York and Pennsylvania Income

    Posted: January 17, 2025
    Multi-state taxation can significantly affect a taxpayer’s finances, but proactive planning can help minimize its impact. CPAs need to be aware that accurately filing Form NJ-COJ ensures that individuals receive the full credit for taxes paid to other jurisdictions, preventing double taxation.
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    Understanding and Choosing the Best IRA

    Posted: January 9, 2025
    IRAs are essential components of a well-rounded retirement plan, offering tax advantages and opportunities for long-term growth. The decision to choose a traditional IRA, Roth IRA or implement a backdoor Roth strategy depends on each person’s unique financial situation.
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    Preparing Nonprofits: 5 Lessons from the Pandemic That Still Work

    Posted: December 30, 2024
    As trusted advisors, CPAs are essential partners in helping nonprofits strengthen their financial health. By applying lessons from the pandemic, organizations can ensure their ability to fulfill their missions and remain a vital force for good.

 

We welcome interest in writing for NJCPA Focus. Please refer to the following guidelines in writing a blog post:

  • Have no more than 400 words in length.
  • Use bullet points/tips/recommendations, when possible.
  • Link to an objective or independent report or article, if available.
  • Do not sell a product or service.

To submit a blog post for consideration, contact Kathleen Hoffelder, content editor at NJCPA, via email. All posts will be entered by NJCPA staff and reposted on social media.