Insights

As the year 2020 comes to a close, partnerships should be prepared for some major adjustments regarding certain tax reporting requirements.

Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.

Whether an individual is properly classified as an employee or as an independent contractor has always been important, but never more critical than today.

Since the Paycheck Protection Program (PPP) was first introduced, borrowers were advised that they cannot double-dip, or be reimbursed for the same expense twice.

The State of New Jersey (NJ) was active making tax changes in late September/early October. NJ’s Governor Phil Murphy signed into law a budget impacting both individuals and corporations.

As we enter the last quarter of the year, now is the time for private foundations to review the current year’s tax planning and year-end strategies.

Owners and/or operators of hotels and restaurants are facing unprecedented times.

Our readers know that every industry is impacted by cybercrime. They also know that individuals, as well, are targeted. When these attacks seriously affect the well-being of our school kids and hospital patients ‒ as you will read in this edition ‒ we are all outraged.

As we move passed the six-month mark of being immersed in the global COVID-19 pandemic, it is important to reflect and appreciate where we have been to allow us to strategize and plan for where we need to go next.