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

Key Changes to Construction Contractors’ Financial Statements Due to New Revenue Recognition Accounting Standard

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 that these financial statements have a different look from past years courtesy of the new revenue recognition accounting standard (ASU 606) effective for all non-public…

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

Business Reinstatement and Dissolution Program Starting March 1

The Department of the Treasury has recently announced a program designed to help businesses that have been revoked for failing to comply with State administrative reporting requirements.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 businesses to forego the current extensive filing requirements and administrative fees. Instead businesses may fully reinstate to do business or dissolve through a single online…

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

Focus On Time-of-Service Collections for Steady Cash Flow This Year

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 practices.  Considering annual patient deductibles that reset January 1, coverage changes for patients and winter weather, it is no wonder that January is a challenging…

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Sax Gifts $15,000 to the Not-for-Profit, NJ Sharing Network through the 3rd Annual Founders’ Award 150 150 SAX - Advisory, Audit and Accounting

Sax Gifts $15,000 to the Not-for-Profit, NJ Sharing Network through the 3rd Annual Founders’ Award

Top 100 accounting, tax and business advisory leader, SAX, is proud to announce the winner of the firm’s 3rd Annual Founders’ Award – NJ Sharing Network – for best demonstrating their impact on their beneficiaries.

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

New Jersey’s Misclassified Employees

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 into law on January 20, 2020 that authorizes various actions related to independent contractors in New Jersey.   The New Jersey Department of Labor has…

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Governor Murphy Signs “Pass-Through Business Alternative Income Tax” Bill to Help New Jersey Taxpayers 150 150 SAX - Advisory, Audit and Accounting

Governor Murphy Signs “Pass-Through Business Alternative Income Tax” Bill to Help New Jersey Taxpayers

New Jersey Governor Phil Murphy signed the bill S-3246, called the “Pass-Through Business Alternative Income Tax Act” on Monday, January 13, 2020 to help business owners save federal income tax through state tax deductions at the entity level.  The bi-partisan legislation was advanced by the full Assembly and passed 77-0.  The bill is an effort…

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Real Estate Owners: Are you Entitled to a Reduction in Your Taxes? 150 150 SAX - Advisory, Audit and Accounting

Real Estate Owners: Are you Entitled to a Reduction in Your Taxes?

New Jersey and New York continue to have one of the highest property tax burdens in the country.  As a result of market changes in the values of real estate relative to their equalized tax assessments, there may be opportunity to have your real property taxes appealed.  This includes all classes of property such as…

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New Sax FOCUS Newsletter 150 150 SAX - Advisory, Audit and Accounting

New Sax FOCUS Newsletter

Our new Sax FOCUS newsletter delivers year-end tax saving moves and meaningful information from our in-house advisors on topics relevant to Construction, Healthcare, Manufacturing & Distribution, Not-for-Profit, Real Estate, Transaction Advisory and Wealth Management.

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