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Hear from the Professionals on June 28: How Tax Reform Will Impact Nonprofit Organizations 150 150 SAX - Advisory, Audit and Accounting

Hear from the Professionals on June 28: How Tax Reform Will Impact Nonprofit Organizations

Marking the largest overhaul of a United States tax policy in years, the Tax Cuts and Jobs Act (the “Act”) was signed into law on December 22, 2017. There are many provisions in the Act and subsequent legislation that greatly impacts nonprofit organizations. Hear what industry experts have to say on this matter as they…

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U.S. Supreme Court Creates a New Standard for Online Sales Taxation 150 150 SAX - Advisory, Audit and Accounting

U.S. Supreme Court Creates a New Standard for Online Sales Taxation

The U.S. Supreme Court ruled in South Dakota v. Wayfair that internet retailers who sell into South Dakota (even if they have no property or employees in South Dakota), will be subject to sales tax collection. This ruling will create a new paradigm for online sales taxation. The Supreme Court ruling effectively overturned the long standing ruling in Quill…

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Sax Wealth Advisors Named to 2018 Wealth Magnets Rankings of the Top 150 Firms by AUM 150 150 SAX - Advisory, Audit and Accounting

Sax Wealth Advisors Named to 2018 Wealth Magnets Rankings of the Top 150 Firms by AUM

Clifton, NJ, June 21, 2018 – Sax Wealth Advisors, a registered investment advisory firm and financial planning subsidiary of accounting, tax and advisory firm, SAX, is proud to announce their inclusion on Accounting Today’s 12th annual “Wealth Magnets” list, comprised of the Top 150 CPA Firms by Assets Under Management (AUM).  Sax Wealth Advisors was…

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New Jersey Makes Paid Sick Leave Mandatory 150 150 SAX - Advisory, Audit and Accounting

New Jersey Makes Paid Sick Leave Mandatory

New Jersey has become the 10th state to make some form of paid sick leave mandatory for employers to provide.  This requirement will take effect on October 29, 2018. Who is covered? All employees of private and public companies employed in NJ are covered except: Construction industry employees covered by a collective bargaining agreement; Per…

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Tax Alert: Connecticut Creates New Level of Tax on Pass-Through Entities 150 150 SAX - Advisory, Audit and Accounting

Tax Alert: Connecticut Creates New Level of Tax on Pass-Through Entities

Connecticut Governor Dannel Malloy, signed on May 31, 2018 Senate Bill 11, a bill that is in response to the federal tax reform.  This bill includes a new pass-through entity (PTE) tax at a rate of 6.99% on Connecticut source income which affects Partnerships, S-Corporations and LLC’s treated as a PTE. This new level of…

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Tax Alert: Sales Tax Change for NY Restaurants & Caterers 150 150 SAX - Advisory, Audit and Accounting

Tax Alert: Sales Tax Change for NY Restaurants & Caterers

The recently enacted New York State 2018-2019 budget has brought about much change, including the application of sales and use tax on the restaurant, catering and hospitality industry.  New York is evidently seeking ways to simplify and streamline processes for business owners, and not subjecting materials used by restaurants and caterers to sales tax is…

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New Jersey Out-of-Network Bill Intended to Enhance Consumer Protections and Eliminate Surprise Charges 150 150 SAX - Advisory, Audit and Accounting

New Jersey Out-of-Network Bill Intended to Enhance Consumer Protections and Eliminate Surprise Charges

Governor Murphy recently signed The New Jersey Out-of-Network Bill (Out-of-Network Consumer Protection, Transparency, Cost Containment and Accountability Act) into law. The bill has brought much controversy and debate within the State of New Jersey over the past eight to ten years without much movement.  However, during the month of April the bill gained resurgence and…

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Tax Alert: A Drafted New York State Bill Could Alleviate Burden of SALT Deduction Cap Imposed by the Tax Cuts and Jobs Act 150 150 SAX - Advisory, Audit and Accounting

Tax Alert: A Drafted New York State Bill Could Alleviate Burden of SALT Deduction Cap Imposed by the Tax Cuts and Jobs Act

A discussion draft has been disseminated by the New York State Department of Taxation and Finance that establishes several state-level tax reforms to preserve state and local tax deductibility for individuals on certain non-wage income. The draft language would establish an Unincorporated Business Tax (UBT), levied at a 5% rate on partnership income that is…

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