The never-ending saga of the Corporate Transparency Act (CTA) continues. On December 23, 2024, the Fifth Circuit granted the Department of Justice’s request to stay the nationwide injunction that was put in place on December 3, 2024 by a federal judge in the Eastern District of Texas. The Department of the Treasury responded to the

In February, we informed you of the U.S. Department of Treasury’s new requirement to report Beneficial Ownership Information (BOI) to the Federal Financial Crimes Enforcement Network (FINCEN). This filing must be completed by December 31, 2024, as outlined on the FINCEN website: United States Department of the Treasury Financial Crimes Enforcement Network | FinCEN.gov You should be aware that on December 3, 2024, a federal judge

Here’s an important update to the New Jersey Anchor Property Tax Relief Program: New Jersey will launch the NJ Anchor Program for tax year 2021 later this month. As in previous years, the benefits can be up to $1,500 for homeowners and up to $450 for renters. The timeline is as follows:  Beginning August 19

Are you ready for Retire Ready NJ?   Originally passed in 2019, on June 30, 2024, New Jersey launched Retire Ready New Jersey. Retire Ready NJ (hereinafter referred to as “the Program”) is a state-run retirement savings program for employees of private employers who do not offer a qualified retirement savings plan. All employers should

The Corporate Transparency Act (“CTA”) was enacted in 2021 as an expansion of anti-money laundering laws and is intended to combat illicit activities such as money laundering, financing of terrorism, tax fraud and corruption. Effective January 1, 2024, the CTA requires most businesses file a Beneficial Ownership Information (BOI) Report with the U.S. Department of

  The regulatory environment is ever-changing for employers. We wanted to highlight some recent changes: Employee Overtime Protections The United States Department of Labor’s (“DOL”) regulations for determining whether salaried employees are exempt from minimum wage and overtime requirements will be changing effective July 1, 2024. All employers should be aware of these changes. Currently,

January 2024,  By Heidi Toth,  You came up with an idea for a business, had a hobby that morphed into a full-time enterprise or left an existing job to go out on your own.  You have chosen a name for this new venture.  Now what?? Before you start advertising, you should make sure that the

January 2024, For the past couple of months, I have been telling my clients that they owed money or would be receiving a smaller refund on their 2021 tax return. The reason for this change in my client’s tax picture … 2021 was a great year to be invested in the stock market. While none