Blogs

Is PMI deductible in 2018

By Raymond B. Cohen, CPA posted 02-15-2019
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Hello, I thought I read that PMI is deductible for 2018 income tax returns. . Articles mention this. IRS.gov/Extenders . does not discuss this. What is the answer? Thank you. Ray
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Protecting from Cyberattacks

By Nicholas M. Ilacqua, CPA posted 10-02-2018
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Security threats are growing more aggressively every day and cyber criminals are getting smarter. The cost of disruption caused by breaches and the general loss of important data can cripple a business. That’s why security concerns are now more top of mind for business owners than ever before. DATA AND BUSINESS PROTECTION Don’t put your company at risk. Work with TeamLogic IT. We do more than protect your data—we focus on business protection. Technology can go a long way to protecting your data yet policies and procedures around access, securing data, and dealing with breaches must be a part of a comprehensive cybersecurity plan. Our approach to security ...
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The accountant as trusted advisor

By John J. Cox, CPA posted 08-05-2018
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If anyone missed the article in the July / August issue of "New Jersey CPA Magazine", here it is for your convenience.   The Enchanted Accountant: Three Ways to Become a Trusted and Strategic Advisor My primary business is a business broker or intermediary for main street and local middle market.  This article outlines several things practitioners should consider implementing with all of their clients.  As the trusted advisor, the practitioner is in a unique position to provide objective feedback and help the client maintain the business' health during the years before the formal exit planning.       As the client approaches the 2-3 years prior to looking ...
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Independence when fees are due

By Joseph J. Gormley, CPA posted 07-23-2018
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I know the answer but i cannot find a site for it. I have a client who owes me more than one year in fees. I want to present him with documentation showing that I cannot issue a financial statement under those circumstances. Can anyone guide me in the appropriate direction?
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Tax Attorney New York

By Peter P. Gilleece, CPA, CFE, CGMA, MS posted 12-01-2017
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I am hoping the membership can help me. A friend of a friend is looking for a Tax Attorney as he has not filed tax returns in a number of years as is looking to make things right. The taxpayer is a Unionized Tradesman and lives in New York State and works in NYC and New York State and lives in Dutchess County. Any referrals would be greatly welcomed. Sincere thanks to the membership for their continued help. Thanks, Pete
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Performance Metrics to Keep Your Firm Healthy

By Ira S. Rosenbloom, CPA posted 11-03-2017
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Tracking the right performance indicators and addressing what they reveal will make a big impact on your firm's health. I recently shared some metrics in a blog post for the CPA Firm Management Association, and thought others might find them useful, as well. Read more here .
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Accounting Student - Struggling to find my place in the industry

By Michael Purrazzella posted 02-15-2017
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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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AVERAGE TAX PREPARATION FEES IN NJ – HOW MUCH DOES IT REALLY COST?

By Andi Oparaku, CPA posted 11-07-2016
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LET’S BREAKDOWN THE AVERAGE TAX PREPARATION FEES IN NJ How much will my tax return cost? This is the question on everyone’s 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 ...
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Internship at Nisivoccia LLP: Blog #2

By Nicole S. Wiesenfeld posted 06-10-2016
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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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Internship at Nisivoccia LLP: First Two Weeks

By Nicole S. Wiesenfeld posted 05-23-2016
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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 Top Policy Issues in New Jersey

By Ralph Albert Thomas, CPA (DC), CGMA posted 05-06-2016
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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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The Journey to Self-Accountability: Lessons from the NJCPA Managing Partner Retreat

By Carolyn Hook posted 04-04-2016
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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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Acting NJ State Treasurer Opens Up a Conversation to Empower New Jersey Businesses

By Ralph Albert Thomas, CPA (DC), CGMA posted 03-14-2016
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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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Checklist of small business tax changes for 2015

By Tony Novak, CPA posted 12-17-2015
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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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Taxes and Infrastructure Dominate the N.J. Business Summit

By Ralph Albert Thomas, CPA (DC), CGMA posted 09-28-2015
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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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Accountants can be good writers

By Barry R. Palatnik, CPA posted 09-04-2015
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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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Join me at the NJ Business Summit, 9/17-18

By Ralph Albert Thomas, CPA (DC), CGMA posted 09-01-2015
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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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Taxes, the TTF and Mandates Dominate the Conversation at the First NJ Business & Economic Roundtable

By Ralph Albert Thomas, CPA (DC), CGMA posted 06-16-2015
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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 ...
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NJ CPA Firms Complete Second Annual "Month of Service"

By Don Meyer posted 06-16-2015
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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 Reasons You Should Get to Know NJCPA Connect

By Don Meyer posted 05-21-2015
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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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