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July 18 CFO Focus: New Mandatory Employer Requirements for New Jersey – Is Your Company Ready? 150 150 SAX - Advisory, Audit and Accounting

July 18 CFO Focus: New Mandatory Employer Requirements for New Jersey – Is Your Company Ready?

Governor Phil Murphy recently signed A4134 into law establishing the New Jersey Secure Choice Savings Program which will require employers with 25 or more employees who do not offer a retirement plan to participate in a state-run savings program through automatic payroll deductions for their employees.  This new program will automatically enroll NJ employees who…

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New York and California Adopt New Sales and Use Tax Requirements 150 150 SAX - Advisory, Audit and Accounting

New York and California Adopt New Sales and Use Tax Requirements

New York and California have both adopted provisions that will require E-Commerce facilitators/providers (i.e. Amazon, eBay, etc.) to collect and remit sales tax on taxable sales made by businesses who use their marketplace. This is great news for sellers who ONLY make sales through a marketplace facilitator, as the responsibility to collect and remit sales…

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IRS to Crack Down On Alimony Deduction 150 150 SAX - Advisory, Audit and Accounting

IRS to Crack Down On Alimony Deduction

The Treasury Inspector General for Tax Administration (“TIGTA”) recently issued a report titled “Tax Cuts and Jobs Act: Assessment of Implementation Efforts”.  The report recommended the IRS revise Form 1040, Schedule 1, to obtain additional information regarding divorce or separation agreements for the Tax Year 2019 and later.  IRS management agreed with this recommendation and…

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Tax Alert: IRS Issues New Guidance For Qualified Opportunity Zone Investments 150 150 SAX - Advisory, Audit and Accounting

Tax Alert: IRS Issues New Guidance For Qualified Opportunity Zone Investments

The Tax Cuts and Jobs Act (“TCJA”) established the Qualified Opportunity Zone (“QOZ”) program to encourage investment in economically distressed and low-income communities across the United States, District of Columbia and U.S. possessions. Qualified Opportunity Zone investments allow for temporary deferral of inclusion in gross income for capital gains invested in a Qualified Opportunity Fund…

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May 16 CFO Focus: The Right Accounting System for Your Organization 150 150 SAX - Advisory, Audit and Accounting

May 16 CFO Focus: The Right Accounting System for Your Organization

The way we do business has changed drastically over the last 10 years.  Has your accounting system kept up? Companies today have relationships with many types of customers and vendors.  Each type can result in a different Order-to-Cash or Purchase-to-Pay process, making it impossible to manage accurately and efficiently without proper data validation and controls. …

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Sax Wealth Advisors Adds The Practice of Stuart B. Herrmann CFP®, CPA To Expanding Team of Wealth Advisors 150 150 SAX - Advisory, Audit and Accounting

Sax Wealth Advisors Adds The Practice of Stuart B. Herrmann CFP®, CPA To Expanding Team of Wealth Advisors

Clifton, NJ, April 1, 2019 –––– Sax Wealth Advisors LLC, an independent registered investment advisory firm with offices in Clifton, NJ, Pennington, NJ and New York City, has announced the addition of Stuart B. Herrmann, CFP®, CPA as Wealth Advisor effective April 1, 2019. Previously, Stuart served as an Investment Advisor Representative and Chief Compliance Officer…

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New Jersey Now Mandates Pre-tax Transit Benefits For Employees 150 150 SAX - Advisory, Audit and Accounting

New Jersey Now Mandates Pre-tax Transit Benefits For Employees

New Jersey Governor Phil Murphy signed S1567 into law, requiring employers of 20 or more employees to offer a pre-tax transportation fringe benefit to their employees, covering commuter highway vehicle (vanpools) and mass transit costs. This mandate does not include parking. The pre-tax benefit would allow employees to set aside a certain amount of pre-taxed…

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April 17 CFO Focus: The Office and Warehouse of the Future 150 150 SAX - Advisory, Audit and Accounting

April 17 CFO Focus: The Office and Warehouse of the Future

The work environment of the future is an exciting idea to conceptualize, but what does it mean in an era where the world is changing at a pace quicker than ever before?  While many organizations look to current trends to inform the design of their workspace and other real estate requirements, it is also important…

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