Many business owners are perplexed by determining whether an individual is acting as an employee or independent contractor. The determination is challenging because there are often confusing federal and state guidelines and because it seems they change regularly. Many are surprised to learn that although an individual may appear to be working in an independent contractor’s role, they are considered an employee by the IRS and state law.

In the fall of 2020, I wrote about whether one should choose to waive or not to waive part of or all of one’s requirement to take a Required Minimum Distribution (RMD).  More than likely, that will not be an option for 2021.

All organizations are required to detail the effects of the COVID-19 pandemic on their organization in the financial statement notes. This disclosure requirement is for commercial entities as well as nonprofit entities.

The COVID-19 pandemic has affected nearly every aspect of daily life, so preparing for your company or nonprofit organization’s audit may have some significant differences this year, considering the remote environment that many of us are working in today.

I recently attended the Princeton Mercer Regional Chamber’s 8th Annual 2021 Central NJ Real Estate Forecast. I joined nearly 300 others virtually for a very insightful discussion from some of the industry’s top experts.

The COVID-19 pandemic has left an indelible impression on American businesses, and nonprofit organizations are no exception. Adapting to the pandemic has been difficult, but it has also spurred innovation.

Paycheck Protection Program (PPP) loans have been a lifeline for many nonprofit organizations during the COVID-19 pandemic. Along with these much-needed funds comes the question of how to account for the loan proceeds and subsequent forgiveness of the loan.

With 2020 now in the rearview mirror, it’s a good time to start thinking about the documents you’ll need to prepare your tax return.  It can be a lot to keep track of, so we’ve provided a handy checklist of documents to keep an eye out for or to start collecting over the next couple of weeks, as the 2021 tax filing season officially kicks off on February 12th.

The Consolidated Appropriations Act, 2021, created many new opportunities for New Jersey and Pennsylvania-area nonprofit organizations.

The financial and operational challenges presented by the COVID-19 pandemic continue to persist into another year. The seemingly endless number of government orders has forced many to operate in a limited capacity, or in some cases, close altogether.