by Leigh J Kremer CPA | Jul 17, 2020 | Business, PPP Loans
If you are one of the many business owners who was able to secure a Paycheck Protection Program (PPP) loan you are undoubtedly aware that these loans are forgivable if you disbursed the full loan proceeds for allowable expenses (payroll, payroll tax expenses, business...
by Leigh J Kremer CPA | May 26, 2020 | Business, Coronavirus crisis, Payroll Services
Here is the latest information for business owners regarding PPP loan forgiveness and federal payroll tax credits: Paycheck Protection Program Loan Forgiveness: The first thing you need to understand is that the law was written, passed and implemented with great...
by Leigh J Kremer CPA | May 12, 2020 | Business, Coronavirus crisis, Individuals, Tax Preparation
I know many of you are interested in the details of the Covid-19 relief stimulus law, so I will attempt to provide some important information here: The tax rebates are an a NON-TAXABLE advance payment of a special 2020 tax credit. So you get the money now and then...
by Leigh J Kremer CPA | Apr 24, 2020 | Business, Coronavirus crisis, Individuals, Tax Preparation
I am continuing to get a large number of inquiries from clients regarding the government programs designed to help us through the current crisis and figured it might be helpful to share some information with you, as well as some new information regarding a SALT fix...
by Leigh J Kremer CPA | Mar 30, 2020 | Business, Coronavirus crisis, Individuals, Tax Preparation, Uncategorized
I hope this message find you well. I have been getting a lot of questions from clients regarding various taxpayer related issues regarding the coronavirus crisis. This message will attempt to answer those questions. The federal government has announced a relief...
by Leigh J Kremer CPA | Mar 23, 2020 | Tax Preparation
Dear Clients, I hope that you are all doing well and staying healthy. In light of the coronavirus situation I wanted to let you know that I will be working mostly from my home for at least the next few weeks. I can be reached via email or on my cell phone at (732)...
by Leigh J Kremer CPA | Mar 2, 2020 | Individuals, Tax Preparation
Now that the 2020 tax season is under way I have been getting lots of questions. Here are some fast facts to help you understand the always confusing tax laws: If you received a state tax refund last year you may not have to claim it as income on your 2019 tax...
by Leigh J Kremer CPA | Feb 7, 2020 | Cyber-security, Tax Preparation
The start of tax season has seen a noticeable increase in online, email based scams targeting taxpayers. These scams are designed to look like legitimate tax-related emails from CPA’s, tax preparers, or tax agencies. Be extra suspicious of any email that asks...
by Leigh J Kremer CPA | Jan 24, 2020 | Business, Business Accounting, Payroll Services, year-end
As many of you may be aware, NJ has recently passed new laws that drastically change the dynamics regarding the classification of workers. Many workers and even businesses that you have been paying as subcontractors or vendors and reporting with a 1099-MISC form will...
by Leigh J Kremer CPA | Jan 18, 2020 | Business, Individuals, Tax Preparation
The new year brings may changes to the tax rules: Deductions: The standard deductions that is now taken by most taxpayers has risen to $24,800 for married couples, plus $1300 for each spouse age 65 or older. Singles can now claim $12,400 and an additional $1,650 if...
