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Tax Alerts
TAX ALERT: NJ Passes Laws to Combat Employment Misclassification by Businesses 400 400 SAX - Advisory, Audit and Accounting

TAX ALERT: NJ Passes Laws to Combat Employment Misclassification by Businesses

On Thursday July 8, New Jersey Governor Phil Murphy passed a series of laws targeting employment misclassification.  The state believes many businesses have shirked their payroll tax and employment obligations (e.g., paying benefits) by misclassifying workers as independent contractors rather than employees. The new laws do not change the definitions of employees or independent contractors. …

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2021 Ovation Award Winner
MELISSA O’SHEA RECEIVES NEW JERSEY SOCIETY OF CPAS 2021 WOMAN TO WATCH OVATION AWARD 940 788 SAX - Advisory, Audit and Accounting

MELISSA O’SHEA RECEIVES NEW JERSEY SOCIETY OF CPAS 2021 WOMAN TO WATCH OVATION AWARD

Parsippany, NJ, July 2, 2021 –– Top 100 accounting, tax and business advisory leader, SAX, is proud to announce the recognition of Partner, Melissa (Missy) O’Shea on the New Jersey Society of Certified Public Accountants (NJCPA) list of 2021 Ovation Award winners.  Missy was named in the “Woman to Watch” category. The NJCPA’s Ovation Awards…

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Tax Alert
Tax Alert: Electing Out of Advance Child Tax Credit Payments in 2021 400 400 SAX - Advisory, Audit and Accounting

Tax Alert: Electing Out of Advance Child Tax Credit Payments in 2021

Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will claim the other half when you file your 2021 income tax return. These changes apply to tax…

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Financial Relief
ADDITIONAL RELIEF ANNOUNCED FOR NEW JERSEY SMALL BUSINESSES & INDIVIDUALS 400 400 SAX - Advisory, Audit and Accounting

ADDITIONAL RELIEF ANNOUNCED FOR NEW JERSEY SMALL BUSINESSES & INDIVIDUALS

On May 7, 2021, New Jersey Governor Phil Murphy announced an additional $275 million in aid is on its way for small businesses and individuals hit hard by the COVID-19 pandemic. Small Businesses $235 million in aid will be allocated to small business relief and will satisfy Phase IV of grant requests made to the…

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Paycheck Protection Program Loan
SBA CEASES ACCEPTANCE OF MOST NEW PPP APPLICATIONS 400 400 SAX - Advisory, Audit and Accounting

SBA CEASES ACCEPTANCE OF MOST NEW PPP APPLICATIONS

On May 4, 2021, the Small Business Administration (SBA) announced that the funds allocated to the Paycheck Protection Program (PPP) general fund had been exhausted.  While Congress recently reached an agreement to extend the PPP through May 31, 2021, the SBA will cease accepting new applications from most borrowers.  However, there is approximately $8 billion…

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Sax Capital Advisors
SAX LAUNCHES “SAX CAPITAL ADVISORS” TO FURTHER ENHANCE SUITE OF BUSINESS ADVISORY SERVICES 400 400 SAX - Advisory, Audit and Accounting

SAX LAUNCHES “SAX CAPITAL ADVISORS” TO FURTHER ENHANCE SUITE OF BUSINESS ADVISORY SERVICES

Parsippany, NJ, May 6, 2021 –– Top 100 accounting, tax and business advisory leader, SAX, has officially announced the launch of Sax Capital Advisors, which adds an Investment Banking Practice to the firm’s robust portfolio of service offerings, and expands Sax’s existing Transaction Advisory Practice.  Sax Capital Advisors will specialize in assisting clients with selling…

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Screenshot of new Sax LLP site
Sax Marks 65th Anniversary with the Unveiling of Redesigned Website 400 400 SAX - Advisory, Audit and Accounting

Sax Marks 65th Anniversary with the Unveiling of Redesigned Website

Parsippany, NJ Headquarters, May 4, 2021 – Top 100 accounting, tax and advisory firm, SAX, is proud to unveil its newly redesigned website at www.saxadvisorygroup.com as the firm celebrates its 65th anniversary serving high-net-worth individuals and the business community within our largest vertical markets. After more than six decades as accounting, tax and business advisors,…

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April 29th Webinar
WATCH THE WEBINAR: PLANNING NOW FOR THE ESTATE TAX OVERHAUL 400 400 SAX - Advisory, Audit and Accounting

WATCH THE WEBINAR: PLANNING NOW FOR THE ESTATE TAX OVERHAUL

The recently proposed “For the 99.5% Act” would bring sweeping changes to the taxation of estates and inherited gains, while the “Sensible Taxation and Equity Promotion Act” (STEP) would eliminate the step-up in basis that inherited assets currently enjoy. This creates a time sensitive planning opportunity. This change would immediately become the costliest tax plans…

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