Newsletters

NEUHAUS CPAs APRIL 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Chart a Tax Course for Business Travel Business owners sometimes add a few extra days of leisure to their business trips, whether to relax by the beach or visit family members who live in different cities. With proper planning and documentation, you may be able to deduct some costs — such as transportation, lodging and meals — as legitimate business expenses. Here's a refresher on the tax rules for business vs. personal travel.   Full Article Conduct an Effective Year-End Review Annual meetings are a good time to evaluate the finances, corporate structure and operations of your medical practice so you can make plans for the coming year. To make the meeting effective, there are three [...]

NEUHAUS CPAs MARCH 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Installment Sales Can Be a Win-Win for Buyers and Sellers Installment sales can be beneficial for buyers without enough cash on hand to pay the full purchase price. But they can also be beneficial for sellers because taxable gains can be spread over several years. Here's an overview of the complicated installment sale tax rules for sales of businesses and other eligible assets, including some potential pitfalls for sellers to avoid.   Full Article Landlords May Be Legally Liable for Tenant Injuries Accidents happen, and if you own the property where your tenant or a visitor gets hurt, you could be held legally responsible. This article defines "negligence" when it comes to rental property, discusses steps [...]

NEUHAUS CPAs FEBRUARY 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Navigating the Risks of Check Fraud Many businesses still issue and accept paper checks that are sent through the mail, despite the prevalence of electronic payment methods. While paper checks may be convenient and familiar for some people, they can be stolen or altered by criminals. Here are six proactive measures you and your business can take to fortify your defenses against this threat.   Full Article Handling Practice Startup Expenses For Tax Purposes A new medical practice may incur a variety of pre-opening costs. Under the Internal Revenue Code, different rules apply to different types of costs, and special tax return elections may be necessary to get the best treatment for your practice's expenditures. This [...]

NEUHAUS CPAs JANUARY 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Building for the Future: IRAs for Teens and Young Adults You're never too young to start planning for retirement — and habits learned when you're young can be hard to break. One healthy habit you might want to instill in your younger family members is to contribute a small amount each year to an IRA to save for retirement. Here's a comparison of the pros and cons of traditional and Roth IRAs. Which type of IRA would be better for your young adult child or grandchild?   Full Article Section 1031 Exchanges for Real Estate Are More Attractive than Ever Do you want to sell commercial or investment real estate that has appreciated significantly? One way [...]

  NEUHAUS CPAs DECEMBER 2023 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2023, Powered by CPA Site Solutions IRS Delays $600 Form 1099-K Reporting Threshold On November 21, 2023, the IRS postponed the deadline for the new $600 threshold for third-party settlement organizations to file 1099-Ks. Instead, 2023 will be an additional transition year. As a result, reporting won't be required unless a taxpayer receives over $20,000 and has more than 200 transactions in 2023. Read this article to find out what the IRS is planning for the 2024 tax year.   Full Article Medical Practice Fraud: Take a Bite Out of Crime Many medical practices have become victims of internal fraud when trusted employees steal from them. This article illustrates some of the risks that may be present in your office, along [...]

NEUHAUS CPAs NOVEMBER 2023 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2023, Powered by CPA Site Solutions Year-End Tax Planning Tips for Individuals Have you made moves to lower your federal income tax obligation for 2023? Fortunately, there's still time — and this year, tax planning may be simpler, because Congress isn't expected to pass any additional tax-related legislation that will affect your 2023 or 2024 tax situation. Here are seven ideas for you to consider before year end.   Full Article Land Is Not Always a Low-Taxed Capital Asset Ordinary income versus capital gains is a critical tax issue that often generates disputes with the IRS and winds up in U.S. Tax Court. In one case, the sale of property was ruled to be inventory for sale in the ordinary course of [...]

NEUHAUS CPAs OCTOBER 2023 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2023, Powered by CPA Site Solutions Coming Soon: Changes to the 401(k) Plan Participation Rules The 401(k) plan participation rules for part-time employees have become a moving target under the Setting Every Community Up for Retirement Enhancement (SECURE) Act and its sequel, SECURE 2.0. Here's a summary of three impending changes that part-timers should know about and plan administrators should be aware of to stay in compliance with the new laws.   Full Article Reasons Why Patients Change Doctors and Ideas to Stop the Departures While it's not uncommon for doctors to "fire" uncooperative or non-paying patients, the reverse can happen, too. Patients can become dissatisfied with their current doctors and switch to new practices. Obviously, this isn't good for a physician's [...]

NEUHAUS CPAs SEPTEMBER 2023 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2023, Powered by CPA Site Solutions Partnerships: Tax Considerations When Adding a New Partner When inviting a new partner to participate in your business, it's important to understand the federal income tax issues that may arise. Here's an overview of the tax rules that may apply if you bring a new owner into a partnership or limited liability company that's treated as a partnership for tax purposes. There are both pros and cons to consider.   Full Article Repossessing Investment Property Sold in a Seller-Financed Deal If you sell investment real estate in a seller-financed installment transaction and later repossess the property, what are the federal tax implications? This article will answer that question. You may wind up with a taxable gain [...]

NEUHAUS CPAs AUGUST 2023 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2023, Powered by CPA Site Solutions 6 Types of Payroll Tax Obligations Employers Should Know Payroll taxes are a major expenditure for employers and employees. These taxes may be owed at the federal, state and local levels, depending on where the work is performed and the home states of your employees. Remote working only complicates matters. Here's an overview to help your business navigate the withholding, filing and reporting requirements.   Full Article Keeping Tax-Smart Corporate Minutes Keeping corporate minutes for your medical practice can sometimes be viewed as a time-consuming, burdensome task. But there's a silver lining: The minutes can be used to document your practice's intentions for transactions that have major tax implications. Here are six important matters to keep in mind [...]

NEUHAUS CPAs JULY 2023 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2023, Powered by CPA Site Solutions Midyear Tax Planning for Small Businesses and Owners Have you met with your tax advisor to plan for 2023? The current tax year is already half over, and many tax planning moves require some time to implement. Fortunately, you still have several months to make changes. Here are four ideas to inspire small businesses and owners to take action to lower their tax obligations for this year.   Full Article The IRS Inspects Cost Segregation Studies Cost segregation studies are one of the best ways building owners can reduce their tax bills by accelerating depreciation deductions. However, the IRS has identified the studies as an audit target and has issued guidance for its examiners. This article [...]