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Federal Reserve

Federal Reserve Takes Historic $2.3 Trillion Action to Stimulate Economy
Federal Reserve Takes Historic $2.3 Trillion Action to Stimulate Economy 400 400 SAX - Advisory, Audit and Accounting

On April 9th, the Federal Reserve committed an additional $2.3 trillion in funds to further stimulate the economy as we continue to battle the COVID-19 pandemic.  Aimed primarily at households…

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FASB Issues Exposure Draft Regarding Contributed Non-Financial Assets for Not-for-Profits
FASB Issues Exposure Draft Regarding Contributed Non-Financial Assets for Not-for-Profits 150 150 SAX - Advisory, Audit and Accounting

In February 2020, the FASB proposed an update to improve generally accepted accounting principles (GAAP) by increasing the transparency of contributed non-financial assets for not-for-profit (NFP) entities through enhancements to…

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Key Changes to Construction Contractors’ Financial Statements Due to New Revenue Recognition Accounting Standard
Key Changes to Construction Contractors’ Financial Statements Due to New Revenue Recognition Accounting Standard 400 400 SAX - Advisory, Audit and Accounting

It’s hard to believe we are three months into the new year and as year-end accounting procedures are wrapping up, CPA issued financial statements are rolling out.  You will notice…

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Business Reinstatement and Dissolution Program Starting March 1
Business Reinstatement and Dissolution Program Starting March 1 150 150 SAX - Advisory, Audit and Accounting

The Department of the Treasury has recently announced a program designed to help businesses that have been revoked for failing to comply with State administrative reporting requirements.  The program enables…

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Focus On Time-of-Service Collections for Steady Cash Flow This Year
Focus On Time-of-Service Collections for Steady Cash Flow This Year 150 150 SAX - Advisory, Audit and Accounting

Congratulations, your practice survived the month of January!  While survival hopefully was never in doubt for your practice, January is typically the worst cash-receipt month of the year for many…

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New Jersey’s Misclassified Employees
New Jersey’s Misclassified Employees 150 150 SAX - Advisory, Audit and Accounting

New Jersey was working on legislation that would have virtually eliminated independent contractors.  That legislation did not pass, but in its place, five bills were passed or amended and signed…

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Fair Labor Standards Act Update
Fair Labor Standards Act Update 150 150 SAX - Advisory, Audit and Accounting

On September 24, 2019, the U.S. Department of Labor announced its final rule regarding the much anticipated raising of the standard salary level, making 1.3 million American workers newly eligible…

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SAX Ranked #25 on Construction Executive’s list of The Top Construction Accounting Firms
SAX Ranked #25 on Construction Executive’s list of The Top Construction Accounting Firms 150 150 SAX - Advisory, Audit and Accounting

Clifton, NJ Headquarters, August 14, 2019 – Leading accounting, tax and advisory firm, SAX, has been named to Construction Executive’s (CE) list of The Top 50 Construction Accounting Firms throughout…

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New Jersey Paid Sick Leave Update
New Jersey Paid Sick Leave Update 150 150 SAX - Advisory, Audit and Accounting

Now that the New Jersey Paid Sick Leave law is a reality, additional guidance has been provided. On September 13, the Labor and Workforce Development Division of Wage and Hour…

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The Opportunity with Opportunity Zones: The IRS Releases New Regulations
The Opportunity with Opportunity Zones: The IRS Releases New Regulations 150 150 SAX - Advisory, Audit and Accounting

On October 19, 2018, the Internal Revenue Service released proposed regulations for Qualified Opportunity Zones (QOZs). QOZs are a community development tool benefiting low-income areas by bringing significant financial incentives…

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