Just before recessing for the holidays, the House and Senate passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The Act does considerably more than the typical tax extenders legislation seen in prior years; it makes permanent over 20 key tax provisions, including the research tax credit, enhanced Code Sec. 179 expensing, Read More…
Click here to see our formatted copy as released at the 2015 New Jersey Food Processor’s Annual Meeting
The requirements for preparing and filing information returns, such as Forms 1099 and W-2, apply to all businesses, including owners of rental properties. Current IRS Regulations require that information returns be issued to all non-corporate businesses that provide goods or services, to your business or rental activity, aggregating $600 or more during the year. The Read More…
Most business people who incur expenses relating to “entertaining” clients are familiar with the phrase “T&E” (travel and entertainment). However, for income tax purposes, the proper phrase should be “M&E” (meals and entertainment). That is because while business travel is generally fully deductible to the business or to the individual incurring the expense, meals and Read More…
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