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NJ Accounting, Tax & Business Consulting Articles

12 Sep

How Nonprofits Can Use Internal Audits to Mitigate Risk

Nonprofits Can Use Internal Audits to Mitigate Risk | Spire Group, PC Whether it’s to comply with state laws or provide contributors with financial statements, internal audits are critical for nonprofit organizations to verify the accuracy of their records, prevent the misuse of funds or assets and even identify strategies for improving operations. Internal audits […]

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06 Sep

Health Care Industry Outlook Still Uncertain Post-ACA Individual Mandate Repeal

Health Care Industry Post-ACA Mandate Repeal | Spire Group, PC When Congress passed federal tax reform legislation late last year, lawmakers included a repeal of the Affordable Care Act’s (ACA) individual mandate. As a result, starting in 2019, individuals will no longer face a penalty if they fail to get health insurance. Businesses involved in […]

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30 Aug

Health Care Industry Should Bolster Credit Card Data Protections

PCI Data Security Standards for Health Care Practices | Spire Group, PC As credit card payments become more and more ubiquitous for health care consumers, health care practices should continuously monitor their handling of financial transaction information and ensure compliance with Payment Card Industry (PCI) data security standards. PCI standards apply to any business involved […]

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28 Aug

Tax Reform’s Changes to the Kiddie Tax

The Tax Cuts and Jobs Act (TCJA) completely overhauled so many areas of our corporate and individual tax code that some of the smaller regulatory tweaks have been overlooked in their wake. The “kiddie tax” is one of those changes that slipped under the radar. As tax planning season approaches, it’s important to review even […]

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23 Aug

5 Things Nonprofits Should Understand About the Effect of Tax Reform on Charitable Giving

Effect of Tax Reform on Charitable Giving | Spire Group, PC The Tax Cuts and Jobs Act (TCJA) enacted in late 2017 significantly changed the federal tax code. While the changes will affect individuals and businesses of all types, the nonprofit sector needs to carefully monitor how the new law impacts their finances and operations. […]

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21 Aug

Tax Reform’s Changes to the Child Tax Credit

Tax Reform’s Changes to the Child Tax Credit | Spire Group, PC The Tax Cuts and Jobs Act is being touted as pro-taxpayer legislation, and it’s easy to see why – the tax rates have been lowered, the AMT exemption has grown, and the standard deduction has almost doubled. However, the recent tax reform also […]

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14 Aug

Will Tariffs Impact Real Estate Industry More Than Interest Rate Hikes?

Will Tariffs Impact Real Estate Industry More Than Interest Rate Hikes? There has been much discussion among trade and news editors about rising interest rates and their effect on a number of industries. However, when it comes to the commercial real estate and construction industry, there could be a greater disruptor—tariffs. In fact, recently hiked […]

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09 Aug

Four States File Lawsuit to Nullify New Limit on SALT Deduction

Four States File Lawsuit to Nullify New Limit on SALT Deduction | Spire Group, PC As part of the Tax Cuts and Jobs Act (the Act), the limitation imposed on the state and local tax (SALT) deduction has wreaked havoc in many states. In fact, four states – Connecticut, New Jersey, New York and Maryland […]

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31 Jul

Industry 4.0’s Major Impact on Manufacturing and Distribution—Today and Tomorrow

Industry 4.0’s Major Impact on Manufacturing and Distribution | Spire Group, PC Industry 4.0 – it’s a world where manufacturing and distribution shop floors suffer nearly no downtime. Where equipment mishaps and malfunctions are minimized or eliminated altogether through optimized preventive maintenance. Where insights into throughput, productivity and customer orders are instantaneous. Where inventory is […]

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25 Jul

Many States Again Set to Offer 2018 Sales Tax Holidays

State Sales Tax Holidays | Spire Group, PC We’re sorry to say that federal tax law is becoming no less complex in 2018. But even though businesses and individuals must continue to try to make sense of it all, one tax-related benefit remains straightforward and cheery—all of the states that offered sales tax holidays in […]

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