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NJBIZ Digital Guide to Year End Tax Planning

Welcome to the second edition of the NJBIZ Digital Guide series.

This content is only available online and contains four stories and two sponsored pieces showcasing a particular subject.

This edition is designed to assist in the planning and organizing of tax preparation in the aftermath of the 2018 tax reform bill, formally known as the Tax Cuts and Jobs Act.

Called “Guide to Year End Tax Planning,” it is sponsored by Friedman LLP, an accounting, tax and business consulting firm serving public and private companies since 1924.

 

 

Who qualifies for a business income deduction? The answer isn't always clear

Who qualifies for a business income deduction? The answer isn't always clear

When the Tax Cuts and Jobs Act was signed into law in late 2017, a potentially significant provision for businesses came to life: Section 199A. The challenge, say Friedman LLP's tax professionals, is the new statute creates more questions than...
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NOL reform makes planning for future even more important

On paper, the reduction in the top corporate income tax rate to 21 percent from 35 percent, as specified in the Tax Cuts and Jobs Act of 2017 looks like it could be a financial windfall for eligible businesses.
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NOL reform makes planning for future even more important

Assessing the impact of tax reform on individuals

Recent changes to the Tax Reform Act have left many scratching their heads wondering how and if the new regulations offer relevant benefits and protections for individuals. According to tax accountants, as you consider the ramifications of the 2018...
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Assessing the impact of tax reform on individuals

How 'bunching' helps maximize benefit of charitable donations

Thanks to the Tax Cuts and Jobs Act, the standard tax deduction will become $12,000 per person in 2018 — almost twice what it was in 2017 ($6,350). And, a married couple's standard deduction increases to $24,000. That's great news.
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How 'bunching' helps maximize benefit of charitable donations