Determining Nondeductible Amount of Parking Fringe Expenses
IRS issues guidance for determining nondeductible amount of parking fringe expenses and unrelated business taxable income; provides penalty relief to tax-exempt organizations
December 2018
Employee Achievement Award Rules
The IRS reminds employers that last year’s Tax Cuts and Jobs Act made changes to several programs that can affect an employer’s bottom line and its employees’ deductions. This includes employee achievement awards.
Applications Now Open for NJ Film Tax Credit Program
Film and television production companies can now apply for tax credits through the New Jersey Film Tax Credit Program, the New Jersey Economic Development Authority (NJEDA) announced. As part of the Garden State Film and Digital Jobs Act signed by Governor Phil Murphy earlier this year, the program is designed to spur economic growth and …
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IRS Guidance on New Tax Benefit for Stock Options
For private corporations and their employees, IRS provides initial guidance on new tax benefit for stock options and restricted stock units
New ABLE Account Benefits
The Internal Revenue Service wants to remind those with disabilities that the Tax Cuts and Jobs Act (2017) made major changes to Achieving a Better Life Experience (ABLE) accounts.
Wrongful Incarceration Exclusion Reminder
Wrongfully-incarcerated individuals, wishing to take advantage of the special retroactive tax exclusion, usually must file refund claims by Monday, Dec. 17, 2018, according to the Internal Revenue Service.
First Plug-in Electric Vehicle Manufacturer Crosses 200,000 Sold Threshold
The IRS announced today that Tesla, Inc. has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the third quarter of 2018.This triggers a phase out of the tax credit available for purchasers of new Tesla plug-in electric vehicles beginning Jan. 1, 2019.
House Rental Tax in New Jersey
So you thought that renting your house on AirBnB sounded like a great way to earn some extra income. Did you consider the tax implications?