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The Internal Revenue Service, along with the state tax authorities and tax industry companies that are part of its Security Summit, issued a warning Wednesday to tax professionals to beware of a new two-stage email scam from cybercriminals who are posing as clients soliciting tax services. LEARN MORE NOW RotenbergMeril is a…
DetailsThe new year will ring in a new chapter in the burgeoning battle over state remote sales taxation with a wave of new notice and reporting laws — but questions remain on how remote retailers can manage the potential legislative onslaught. LEARN MORE NOW RotenbergMeril is a CPA firm with offices in…
DetailsYou may choose any recordkeeping system suited to your business that clearly shows your income and expenses. The business you are in affects the type of records you need to keep for federal tax purposes. Your recordkeeping system should include a summary of your business transactions. This summary is ordinarily made in your business books…
DetailsDue Date for FBARs Automatically Extended to October 15 Each Year: The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changed the due date for filing FinCEN Form 114 (Report of Foreign Bank and Financial Accounts) to April 15 of the following calendar year, with a six-month extension to October 15 allowed.…
DetailsNote to early income tax filers: Keep an eye on your mailbox and your email. Everything you need to submit your return should be on its way. LEARN MORE NOW RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business…
DetailsSavvy entrepreneurs use these strategies to ensure every business partnership is a match made in heaven READ MORE NOW
DetailsOne of the advantages of operating your own business is hiring family members. However, the employment tax requirements for family employees may vary from those that apply to other employees. Click Below, to learn more about operating a husband and wife business. LEARN MORE NOW
DetailsThe IRS has become more strict with 1099 filings by assessing harsher penalties. The penalties associated with missing the deadline or not filing 1099s can range from $30 to $100 per form, with a maximum fine of $500,000 per year. If the IRS determines there is intentional disregard of the requirements, the penalty can reach…
DetailsThe election of Donald Trump, in addition to Republican control of the House and Senate, bodes well for significant tax reform during early 2017. For some people, this can present major opportunities for reducing taxes for 2016 by making some key year-end tax planning moves. READ MORE NOW
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