As tax law closes charitable deduction, NJ looks to corporate citizens for help

During Investors Bank’s Art of Thriving: Not-for-Profit Conference on Wednesday in Edison, many regional and local businesses highlighted corporate giving they have taken part in throughout their communities. Sally Glick, chief growth strategist at accounting firm Sobel and Co., said many companies will begin having a “corporate social responsibility” to help their communities. “You have ...

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Lawmakers advance SALT cap workaround

Senate Bill 3246 would create the “Pass-Through Business Alternative Income Tax Act,” which would allow pass-through businesses such as subchapter S-corporations, limited liability corporations and partnerships to pay state taxes at the entity level, rather than the personal level, making the payments deductible on federal taxes. “The ability of these individuals to deduct these personal ...

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