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How Can My Trust Help My Kid Buy a House? 400 400 SAX - Advisory, Audit and Accounting

How Can My Trust Help My Kid Buy a House?

It is fairly common for a client to ask how an irrevocable trust might help a beneficiary to buy a house.  There are many different options for how to handle this common transaction.  The path of least resistance – to have the trust just make a distribution to the child so that the child could…

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SAX Ranks #70 on INSIDE Public Accounting’s Top 100 Firms List and Earns a Spot on Their 100 Fastest-Growing Firms List 400 400 SAX - Advisory, Audit and Accounting

SAX Ranks #70 on INSIDE Public Accounting’s Top 100 Firms List and Earns a Spot on Their 100 Fastest-Growing Firms List

Parsippany, NJ – July 27, 2023 – SAX CEO and Managing Partner Joseph A. Damiano announces the firm has made the prestigious INSIDE Public Accounting’s (IPA) list of Top 100 Accounting firms across the nation for the fifth consecutive year and also was included in the IPA 100 Fastest-growing firms list. This year, SAX rose…

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New Jersey Adopts the Convenience of the Employer Rule for Nonresident Wage Sourcing 400 400 SAX - Advisory, Audit and Accounting

New Jersey Adopts the Convenience of the Employer Rule for Nonresident Wage Sourcing

On July 21, 2023, New Jersey Governor Phil Murphy signed legislative Bill A. 4694 into law.  The new law includes a convenience of the employer rule for sourcing wages of nonresidents to New Jersey for purposes of the Gross Income Tax (aka, “individual income tax” or “GIT”).  The rule will require most New Jersey-based employees…

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Sax FOCUS Newsletter July 2023 1120 746 SAX - Advisory, Audit and Accounting

Sax FOCUS Newsletter July 2023

We are thrilled to present the latest installment of the Sax FOCUS Newsletter, and we must say, it’s truly one for the books! Packed with invaluable insights and expert analysis, this edition promises to take you on an exciting journey from insight to impact, helping you harness industry trends for your future success. Read the…

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New Jersey Enacts Changes to the Corporation Business Tax 400 400 SAX - Advisory, Audit and Accounting

New Jersey Enacts Changes to the Corporation Business Tax

On July 3rd, 2023, New Jersey Governor Phil Murphy signed Senate Bill 3737 (Assembly Bill 5323), enacting significant changes to the New Jersey Corporation Business Tax (“CBT”).  Some of the changes are retroactive. Economic Nexus Implementation New Jersey Adopts Economic Nexus effective for Tax Years ending on or after July 31, 2023.  Similar to the…

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I’m buying life insurance, do I really need a trust, and if so what kind? 400 400 SAX - Advisory, Audit and Accounting

I’m buying life insurance, do I really need a trust, and if so what kind?

A client is buying life insurance, do they really need to set up an irrevocable life insurance trust (“ILIT”) to own that insurance? With high estate tax exemptions is that really relevant? This webinar will explain the pros and cons of having a trust own life insurance and why trust ownership of life insurance is…

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Watch the Webinar: Founders’ Award Q&A 400 400 SAX - Advisory, Audit and Accounting

Watch the Webinar: Founders’ Award Q&A

Have questions about applying for this year’s Founders’ Award? Watch as Sax’s Nonprofit Partners April Kushner and Adam Holzberg review the application package and answer common application questions. Watch the Webinar Here

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NJ Civil and Divorce Trials to Resume in Three Counties 400 400 SAX - Advisory, Audit and Accounting

NJ Civil and Divorce Trials to Resume in Three Counties

On Wednesday, July 5, 2023, Chief Justice Stuart Rabner announced three (3) New Jersey counties will resume civil and divorce trials that were suspended earlier this year due to Judge shortages. These include: Cumberland, Gloucester, and Salem counties.  The trial halt will remain in place for Hunterdon, Somerset, and Warren counties.  Passaic County will stop…

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