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Hello and welcome! This is a general blog to talk about my problems breaking into the industry of Accounting. So let me start at the beginning of my college career. I started my college career in Computer Programming (C++) and did alright in it. While I enjoyed it has a hobby I didn't see it as a career path for me. Eventually the death of my mother gave me grief time to revaluate my life. A professor at my community college, an auditor by trade, talked with me after class some nights. I understood debts and credits easier then most others and liked the idea of Accounting and he told me I was one of the few he could see becoming an Accountant.. This then ...
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LETS BREAKDOWN THE AVERAGE TAX PREPARATION FEES IN NJ How much will my tax return cost? This is the question on everyones mind at the beginning of each tax season. We will breakdown the average tax preparation fees in NJ as well as review IRS published averages for each form and each region. Prices vary greatly, and the actual amount of your income tax preparation fees will be determined by the region where you live, the size of the accounting firm that you hire, and also the complexity of your actual tax return. Our focus in this post will be primarily on average tax preparation fees in NJ, with increased focus in Northern NJ. We called the top ...
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This is my second post about my six-week internship at Nisivoccia LLP in Mount Arlington, New Jersey. I just had my first client visit, which was very exciting. My main tasks were to complete the Accounts Receivable (through Subsequent Cash Testing) and Accounts Payable workpapers. I worked closely with others on the audit team, as they provided me with direction. I had a sense of achievement when the numbers on my workpaper tied out. I really appreciated that Nisivoccia took me to a client because it gave me a much better perspective on how audits are performed. I liked working offsite at the client location. As part of the audit team, I learned ...
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My name is Nicole Wiesenfeld and I recently completed my freshman year at the University of Michigan- Ann Arbor. I will be posting a bi-weekly blog about my six-week internship at Nisivoccia LLP in Mount Arlington, New Jersey. Nisivoccia has been named one of the best places to work in New Jersey by NJBIZ for the fourth consecutive year in 2016. The firm offers traditional accounting and tax services while specializing in areas such as the following: employee benefit plans, governmental entities, not-for-profit organizations, and private enterprise and family owned businesses. This summer, I am an intern in the Audit Commercial Department. Over the past ...
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The legislative news and tracking website CQ Roll Call recently asked local reporters and policy observers one question: “What are the top 5 policy issues in your state?” According to Matt Arco of The Star-Ledger , New Jersey’s top 5 policy issues are: Pensions: No consensus as pension problem grows Transportation: The well has nearly run dry Budget/Taxes: All silent on the tax front Gambling: The tale of Atlantic City Elections: A lame duck governor with little support Not surprisingly, the NJCPA has taken positions on several of these policy issues. Here’s a summary: PENSIONS The NJCPA opposes a constitutional ...
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Sam Allred, CPA, is a Director at Upstream Academy , Founder of Upstream Academy Network, an international association of accounting firms, and was the central figure in the development of methodology and best practices now practiced by hundreds of firms throughout the United States and Canada. Sam Allred has been regularly recognized as one of the major influencers of the accounting profession and has been listed for the past six years as one of Inside Public Accounting’s “Most Recommended Consultants.” So when, at the NJCPA Managing Partner Retreat, Allred told of a time when he was his firm’s “least accountable partner,” New Jersey’s top CPA firm leadership ...
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The New Jersey Chamber of Commerce and the New Jersey Business and Industry Association hosted an event on March 9 where New Jersey’s acting State Treasurer Ford M. Scudder shared his remarks about the economic issues affecting the state, including the estate tax, inheritance tax, public pensions and other issues stunting economic growth. Scudder says the administration created the 2017 Fiscal Year budget to be business positive and resident friendly. On Taxes, Outmigration and the State's Economy Scudder argued that taxes are what people should pay to earn the right to live where they are. Taxes shouldn't be designed ...
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A practical guide to the tax forms that have changed reporting requirements this year Tax return preparers and small business owners filing federal tax returns for 2015 need to be aware that the instructions for several IRS tax forms have changed as a result of the phased-in implementation of the Affordable Care Act. (Perhaps it is just coincidental but it is interesting to note that all of the substantial tax changes affecting small business taxes this year relate to ACA). In some cases additional forms need to be added to the business tax return filing for the first time. In other cases the rules have changes so that even the same numbers and ...
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Business and government leaders from across the state flocked to the Borgata in Atlantic City on September 17 and 18 for the New Jersey Chamber of Commerce’s Business Summit . The first-of-its-kind event, attended by more than 500 guests, highlighted four key issues: transportation and infrastructure, workforce readiness, taxes and regulations and mandates. The selected topics stem from the results of a survey conducted earlier this year of more than 400 New Jersey-based executives. I had the privilege of moderating the tax panel on Day 1 . The panelist were: Jay Biggins , Executive Managing Director, Biggins, Lacy, Shapiro ...
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Hi Everyone, I am teaching at Stockton University. Industry wants better and more effective writers. What can colleges do to help industry with this concern.
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I will be moderating a panel at the New Jersey Chamber of Commerce's New Jersey Business Summit, being held September 17-18 at Borgata in Atlantic City. I encourage you to join me and fellow business executives from across New Jersey for this first-of-its-kind event. The goal of the Summit will be to examine key issues that New Jersey leaders need to address in order to increase the state's positive economic momentum and improve our competitiveness both nationally and internationally. This two-day summit will feature an unprecedented collaboration of many of the state's chambers of commerce, business trade associations, representatives of the Christie ...
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Uncertainty. Frustration. Cautious optimism. Those were some of the sentiments expressed by a panel of thought leaders from business groups, government, academia and the media at the NJCPA’s first NJ Business & Economic Roundtable. The panel, brought together last Friday at the 10 th annual NJCPA Convention & Expo in Atlantic City, was moderated by New Jersey politics and media veteran Jim McQueeny. The roundtable included: Tom Bracken , President and CEO of the NJ Chamber of Commerce NJ Senator Steve Oroho (R) Dr. Siamack Shojai , D ean of the Cotsakos College of Business at William ...
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On May 31, the NJ CPA Month of Service came to an end. Organized by the New Jersey Society of CPAs, the second annual volunteer service program represents the CPA profession's ongoing commitment to serving the communities where its professionals live and work. CPAs from 14 firms across the Garden State, as well as NJCPA staff, volunteered for a whole day or a few hours at locations encompassing a variety of organizations. CPAs raised money, collected clothing, constructed homes for people and bats (read below), cooked meals, walked, ran, dressed down and painted. Here are some highlights: Alloy, Silverstein, Shapiro, Adams, Mulford, Cicalese, Wilson ...
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Five years ago this month, the NJCPA launched Connect , a social network specifically for members. A lot has changed in that five years -- the design and structure of Connect, our logo, our acronym (no more "S") -- but one thing hasn't changed. Just like the day it was launched, Connect enables members to "connect" with each other like never before. In honor of Connect's five-year anniversary, I present to you the "Five Reasons You Should Get to Know NJCPA Connect": The Open Forum - If you have a professional or technical question, the Open Forum enables you to tap into the collective knowledge and expertise of more than 12,000 subscribed ...
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As some of you probably know by now, New Jersey firm license renewal is underway. According to the NJ State Board of Accountancy , firm renewal notices were mailed on April 27. June 30 is the deadline for renewing a firm license. Remember that individual CPA license and firm license renewal pages on the State Board website require different logins and passwords. If your firm did not receive the license renewal information, contact the State Board at 973-504-6380 to confirm the firm address on file or make a change if needed. Keep in mind that participation in a Peer Review Program is required of each firm licensed with the Board that performs any attest ...
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Organized by the New Jersey Society of CPAs (NJCPA), the second annual “ NJ CPA Month of Service ” will take place during May 2015. This volunteer service program represents the CPA profession's ongoing commitment to serving the communities where its professionals live and work. CPAs from all across the Garden State can volunteer for a whole day or just a few hours at locations encompassing a variety of organizations. They can volunteer for a community organization of their choice and can participate as individuals, groups or firms. To date, the following firms have committed to participate: Bedard, Kurowicki & Co. Friedman LLP ...
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A unique set of circumstances provides New Jersey lawmakers with the opportunity to tackle two vital issues important to the state’s economic climate at one time, and to do so in a bipartisan manner that will unite both parties and both the legislature and the administration in support of fiscally sound, pro-growth policies. Now is the time for lawmakers to unite around a compromise package that would combine a reduction in the state’s onerous “death” taxes (that cause NJ residents and businesses to flee the state) with an increase in the gas tax that would be dedicated solely to funding the state’s neglected transportation infrastructure system. For more ...
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In 2014, the NJCPA launched " IssuesWatch with Ralph Thomas ", live updates from our CEO and Executive Director on issues that impact CPAs and financial professionals. In the last nine months, hundreds of CPAs have received free CPE credits (one credit for each webcast, to be precise), just for being NJCPA members. Last Friday, we broadcast our final IssuesWatch of the year, with panel members Ralph Thomas , NJCPA President Brad Muniz and NJCPA COO Ellen McSherry discussing tax issues, including the upcoming tax season, tax extenders, the debate about the cash basis of accounting, efforts to reform NJ’s estate and inheritance taxes and other professional ...
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In 16 days, the ball drops on the 2012-14 CPE triennial, meaning that New Jersey CPAs have just over two weeks to complete their 120 credit-hour requirement and renew their CPA licenses. If the questions received from NJCPA members the last few weeks are any indication, there are many CPE rules that are misinterpreted or forgotten. For clarification, I'll turn to NJCPA member Kenn Heaslip , who wrote an article for the January/February issue of New Jersey CPA magazine, "14 Myths and Facts about CPE", which is excerpted below. I tried to pick out the myths/facts most relevant to this triennial period. Myth: A course sponsor must be approved by the ...
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The NJ Society of CPAs (NJSCPA) and our members are fortunate that not only is the Director of the NJ Division of Taxation, Michael Bryan, a member of the NJSCPA, he also reads and responds to posts on the Society's Member Open Forum . Below is a post from Director Bryan in response to a question about "NJ E-Filing and Pro Series Software" NJSCPA Members - We at the Division of Taxation are aware of the issue complicating the filing of NJ returns without corresponding NJ K-1's. Firstly we're not "establishing a preparer penalty" for not e-filing. It's been on the books for some time and we've not enforced it. Nor will we penalize any preparer that ...
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