Basic Accounting Terms Explained

It is important to understand the basic accounting terms as a business owner or someone who is moving up in a business. Continue reading to discover the top accounting terms that will be essential to understand to effectively communicate with your accounting service provider. Please continue reading and speak with our knowledgeable New Jersey Certified Public […]

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IRS to Recalculate Taxes on Unemployment Benefits; Refunds to Start in May

To help taxpayers, the IRS announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax returns reporting unemployment compensation before the recent changes made by the American Rescue Plan. The legislation, signed on March 11, allows taxpayers who earned less than $150,000 in modified […]

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Summary of the American Rescue Plan Act of 2021

This document provides a brief summary of key tax provisions contained in the American Rescue Plan Act, H.R. 1319, which was signed into law on March 11, 2021. Recovery Rebates/Economic Impact Payments The act creates a new Sec. 6428B that provides individuals with a $1,400 recovery rebate credit ($2,800 for married taxpayers filing jointly) plus […]

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Why Restaurant Owners Should Consider Hiring a CPA for Accounting Services

There are few businesses that deserve more respect than restaurants, especially in these unprecedented times. Through the pandemic, restaurant owners have grappled with hurdle after hurdle, and though over the summer there appeared to be a light at the end of the tunnel, this is no longer the case as COVID cases skyrocket to numbers […]

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