NJBIZ Digital Guide to Year End Tax Planning
Welcome to the second edition of the NJBIZ Digital Guide series.
This content is only available online and contains four stories and two sponsored pieces showcasing a particular subject.
This edition is designed to assist in the planning and organizing of tax preparation in the aftermath of the 2018 tax reform bill, formally known as the Tax Cuts and Jobs Act.
Called “Guide to Year End Tax Planning,” it is sponsored by Friedman LLP, an accounting, tax and business consulting firm serving public and private companies since 1924.
Who qualifies for a business income deduction? The answer isn’t always clear
When the Tax Cuts and Jobs Act was signed into law in late 2017, a potentially significant provision for businesses came to life: Section 199A. The challenge, say Friedman LLP's tax professionals, is the new statute creates more questions than answers. Section 199A is intended to offer considerable benefits to…
NOL reform makes planning for future even more important
Karl A. Neulinger, director, Friedman LLP.
3 planning strategies for the new tax landscape
Over the course of 2018, the topic of tax reform has become the highlight of most conversations amongst business owners and individual taxpayers. There is much debate on whether tax reform has achieved simplified compliance or if it has actually created greater complexity and confusion for taxpayers. While some deductions…
Assessing the impact of tax reform on individuals
Jo Anna Fellon, tax partner, Friedman LLP. Recent changes to the Tax Reform Act have left many scratching their heads wondering how and if the new regulations offer relevant benefits and protections for individuals. According to tax accountants, as you consider the ramifications of the 2018 Tax Reform Bill, there's…
5 key Tax Cuts and Jobs Act considerations entrepreneurs must know
When considering the recent passage of the Tax Cuts and Job Act (TCJA), two expressions come to mind, “A stitch in time saves nine” and “It’s not what you earn, it’s what you keep.” While the new tax law brings favorable tax breaks for businesses, it adds layers of complexity…
How ‘bunching’ helps maximize benefit of charitable donations
Scott Testa, head of Friedman LLP's Trust and Estates Group in its East Hanover office. Thanks to the Tax Cuts and Jobs Act, the standard tax deduction will become $12,000 per person in 2018 — almost twice what it was in 2017 ($6,350). And, a married couple's standard deduction increases…
