BUSINESS TAX SERVICES
FRANK G. SWEENEY is a Partner and focuses on providing tax planning, compliance, and optimization for businesses in real estate, manufacturing, technology, and professional services.MEET EXPERT
Retirement New Mileage Rates and Retirement-Related Changes for 2021 Angela Lawrence, Quality Control Coordinator at Klatzkin, contributed to this post. With the calendar turning to January 2021, new standards came into effect that impact taxpayers who use their vehicles for specific purposes or contribute to retirement accounts. Let’s look at changes related to standard mileage rates and retirement accounts in 2021, as announced by […]
CARES Act State Tax Conformity with the CARES Act The arrival of the COVID-19 pandemic last March sharply impacted both businesses and individuals as significant changes to everyday life were mandated to limit the virus's spread. The combination of stay-at-home orders and forced business closures left many reeling from the almost overnight shifts. Given the magnitude of the situation, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide comprehensive economic relief.
New Jersey Independent Contractor vs. Employee Determination 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.