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16 Jul

If You Owe Back Taxes, Take Note: New Jersey Just Passed a New Tax Amnesty Bill

New Jersey’s New Tax Amnesty Bill On July 1st, the State of New Jersey passed a bill that establishes a 90-day tax amnesty period for its taxpayers. This bill was introduced in March, but it went through two re-writes before the Governor approved it. As enacted, this bill will provide penalty and interest relief for […]

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03 Jul

Exploring Tax Reform’s Impact on the Real Estate and Construction Industry

Tax Reform and Real Estate/Construction | Spire Group, PC The Tax Cuts and Jobs Act (the Act) was signed by President Trump at the end of 2017. This legislation is far-reaching and encompasses an array of complex issues. All industries are affected by the Act, and the real estate and construction industry is no exception. […]

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27 Jun

Are My Home Equity Loans Still Deductible?

Even though the tax reform package was passed six months ago, we are still figuring out exactly what these changes will look like on our tax returns. One of these changes is now a bit easier to understand thanks to the IRS. You heard that right – the IRS recently released helpful information on the […]

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07 Jun

Schedule C Form 1040 Filers Beware: The IRS Is Monitoring Your Deductions

Schedule C Form 1040 Filers Beware: The IRS Is Monitoring Your Deductions | Spire Group, PC Every independent business owner wants to reduce their taxes by taking advantage of allowed business deductions. However, just how much taxpayers take advantage of such deductions has caught the attention of the IRS. If you file a Schedule C […]

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15 May

Tax Implications of Investing in a Small Business

Investing in a small business can be a great opportunity. It can provide you with the chance to earn extra income, to diversify your investment portfolio, and it can be rewarding to help bring another person’s idea to fruition. But of course, with these rewards also come risks, so it is important to fully understand […]

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01 May

Historic Tax Credits Escape Extinction With Few Exceptions

Historic Tax Credits Escape Extinction—Few Modifications to Know Real estate professionals should feel relieved—while historic tax credits (HTCs) were on the chopping block during tax reform debates, the valuable tax credit was, for the most part, left intact in the final Tax Cuts and Jobs Act. In deciding to keep the major benefits of HTCs […]

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26 Apr

New Year, New Tax Brackets

How Tax Brackets Have Changed The tax plan that was passed late last year has been all over the news lately, which should come as no surprise; it represents the biggest change to U.S. tax code in almost 30 years. While tax brackets have shifted slightly over the years and are updated regularly for inflation, […]

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