The Bottom Line
The Bottom Line is where Klatzkin’s advisors provide analysis and insight into key developments in taxation, accounting, and other issues and how they affect businesses and individual taxpayers.

Are Qualified Opportunity Zones the New Like-Kind Exchanges?

By Klatzkin Tax Team

Real Estate

The real estate investment market was presented with a new tax-saving opportunity when Congress passed the Tax Cuts and Jobs Act in December 2017.

Read More >>

Final Opportunity Zone Guidance Provides Clarity for Commercial Real Estate Investors

Real Estate

The Qualified Opportunity Zone (QOZ) program was written into law at the end of 2017, and these past two years, the IRS has worked to make sense of it. In October 2018, they released their first round of proposed regulations, and six months later, in April of 2019, they released their second.

Read More >>

What Every Nonprofit Should Know About Donor Acknowledgment Letters

By ROBERT J. GAFFNEY

Nonprofits

Each year, approximately $300B is donated to nonprofit organizations in the United States. Since these contributions can be taken as deductions on individual tax returns, it is no wonder that the IRS has enacted some reporting standards for the acknowledgment of these contributions.

Read More >>

2020 Central NJ Real Estate Forecast

By Klatzkin Tax Team

Real Estate

Last Thursday, I started my morning off at the Princeton Mercer Regional Chamber’s 2020 Central NJ Real Estate Forecast, where I joined nearly 400 others for a very insightful discussion from some of the industry’s top experts.

Read More >>

Workforce Shortages a Continued Challenge for Manufacturers

Manufacturing

Manufacturing companies are still looking for ways to solve the persistent worker shortages that have plagued the industry for years. While the origins of the deficit are not entirely clear, it’s believed baby boomer retirement coupled with a high number of young workers with a college education, has helped to fuel the issue.

Read More >>

Two Elections That Trustees and Executors Should Consider Now

By JAMES EMMA

Estate Administration

Fiduciaries can make certain elections after the year-end that could affect the prior year tax returns for the trusts and estates, as well as those of the beneficiaries. These elections must be made on or before the 65th day after the close of the taxable year, which is Thursday, March 5, 2020, for the year ending December 31, 2019.

Read More >>

Tax Return Documentation Checklist

Tax

Before meeting with your tax accountant, it’s essential to review a list of required items necessary to complete the filing. While each taxpayer is different, both individual and business, there are standard items required for each to prepare the returns.

Read More >>

The Finances of Estate Planning for Smaller Estates

Estate Administration

Over the years, the estate planning game has changed for the majority of taxpayers.  Due to the increased exemptions, only 1,800 decedents will be required to pay an estate tax in 2019, but the need for planning continues.   

Read More >>

Signs it Might Be Time to Change Accountants

By Klatzkin Tax Team

Tax

The end of the year is a time of review and evaluation for many business owners. It’s an excellent time to review company sales performance, new product/service development, customer retention, and production efficiency.

Read More >>

Does Your Estate Plan Protect Your Digital Assets?

Estate Administration

Each year presents a new opportunity for you to revamp your estate plan. When the calendar turns over, take a peek at your strategy once again.

Read More >>

By Date

Receive Blog Updates

Contact Us

  • This field is for validation purposes and should be left unchanged.