Accounting news Middlesex County

News

Accounting news Middlesex County

Form 1099 Filing Requirements: What you need to know.

The IRS works constantly to improve income reporting by taxpayers. One tool they employ is requiring businesses to file “information returns” that tell the IRS about amounts the business paid out that should be reported by the recipients as income...

Accounting news Middlesex County

Email Sign Up

Submit your email to reserve our monthly tax tips.

Accounting news Middlesex County

On Claiming Itemized Deductions

Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you should know about before you give. Here are six tips from the IRS that you should keep in mind...

Accounting news Middlesex County

What Are The Chances Of Me Getting Audited?

I am constantly asked this “million dollar” question. There is no definite answer; however certain factors certainly raise the odds of your tax return getting selected for audit. Contrary to popular belief, very few audits, if any, are selected randomly. However, if your return contains any of these factors, your chances are greater. These factors are not listed...

Accounting news Middlesex County

Would Your Trust Account Survive an Ethics Audit?

Have you or your firm ever received that dreaded letter from the NJ Office of Attorney Ethics (OAE), politely informing you that you have been "randomly selected" to be audited? You are given exactly two weeks' notice that an auditor will be at your office at 10 a.m. to audit your trust and business accounts. Panic strikes. "Why me?" you ask yourself...