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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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NJBIZ Recognizes SAX as Top CPA Firm, Names CEO and Managing Partner Joseph Damiano in Accounting Power 50 400 400 SAX - Advisory, Audit and Accounting

NJBIZ Recognizes SAX as Top CPA Firm, Names CEO and Managing Partner Joseph Damiano in Accounting Power 50

Parsippany, NJ, July 7, 2023 – SAX has been ranked as the 13th largest accounting firm in New Jersey by NJBIZ in the media property’s 2023 Top Accounting Firms in New Jersey. The growth of Sax was instrumental in NJBIZ naming CEO and Managing Partner Joseph Damiano to its Accounting Power 50 of most influential…

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WATCH THE WEBINAR Functional Expenses and The Overhead Myth The Good, The Bad, and The Ugly 400 400 SAX - Advisory, Audit and Accounting

WATCH THE WEBINAR Functional Expenses and The Overhead Myth The Good, The Bad, and The Ugly

As a nonprofit, you have likely been asked many times, “What is your program expense percentage?” But what does this percentage actually mean, and what does it mean for your other spending, such as overhead? Is overhead spending problematic for nonprofits? In case you missed it, watch as Sax’s in-house nonprofit experts discuss how these…

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Guidance released that enables nonprofits to use clean energy tax credits 400 400 SAX - Advisory, Audit and Accounting

Guidance released that enables nonprofits to use clean energy tax credits

On June 14, 2023, Treasury and the IRS released long-awaited guidance on the changes to certain renewable energy tax credits enacted by the Inflation Reduction Act (“IRA”), which significantly impacts tax-exempt organizations.  The IRA introduced two new credit delivery mechanisms:  elective pay (also known as direct pay) and transferability.  These new delivery mechanisms will now…

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SAX Legislative Update from the Hill 400 400 SAX - Advisory, Audit and Accounting

SAX Legislative Update from the Hill

On Tuesday, June 13th, the House Committee on Ways and Means (hereinafter the “Committee”) passed H.R. 3938 titled the Build It in America Act (hereinafter the “Act”) to restore American competitiveness and bolster economic growth. The Act was written based on feedback that the Committee received from American farmers, families, workers, and small business owners through…

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