Category: Tax Insights
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Hold Your Horses (Taxes)
You might want to hold off on rushing to file your taxes for now. Congressional leaders are close to a $70 billion bipartisan deal. Included in this deal is a focus on expanding the child tax credit and providing tax breaks for businesses until 2025. The target completion date for the deal is Jan. 29,…
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New York ALJ Denies Refund Request for Remote Work Performed Before and During COVID-19 Pandemic – Follow Up on Zelinsky
Many taxpayers that live outside of New York but work for an employer in New York have faced similar frustration in how New York determines how payroll tax is withheld at the state level. Due to the “convenience of the employer” rule in New York, if a taxpayer works for their own “convenience” out of…
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More Withholding Headaches – New Jersey Implements “Convenience of the Employer” Rule
New Jersey Division of Taxation has issued further guidance regarding their implementation of a “Convenience of the Employer” rule. New Jersey is not the first state to implement such a rule but it is only applicable to states that specifically has a similar rule in place (e.g., New York, Connecticut, Delaware, etc…). Under New Jersey’s…
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Tax Opportunities: 2023 Home Energy Tax Credits for Individuals
There are great opportunities for any individuals that are planning to make improvements to their home’s energy efficiency this year. With the passing of the Inflation Reduction Act of 2022, the amount of energy credits have been increased as well as the range of eligible expenses. Eligibility There are two credits that you should be…