On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law ushering in sweeping federal tax changes. The legislation notably expands the Qualified Business Income (QBI) deduction for professionals...more
7/10/2025
/ Alternative Minimum Tax ,
Business Entities ,
Federal Taxes ,
High Net-Worth ,
New Legislation ,
Pass-Through Entities ,
Qualified Business Income ,
Qualified Small Business Stock ,
SALT ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Taxable Income ,
Trump Administration
Since the U.S. Supreme Court issued its decision in South Dakota v. Wayfair, 138 S.Ct. 2080 (2018), this past summer reversing its long-standing “physical presence” nexus test under Quill Corp. v. North Dakota, 504 U.S. 298...more
There have been sweeping changes to both the federal and New Jersey tax laws for the first half of 2018. At the federal level, the elimination of the state and local tax (SALT) deduction, which for decades allowed people to...more
It was no secret that Governor Murphy ran on a platform heralding an aggressive spending plan of $37.4 billion to fund a lengthy list of entitlements such as hospital and prescription aid, opioid addiction treatment, free...more
We are seeing a heavy uptick in audit activity for closely held businesses, particularly in the area of sales and use tax audits to generate much needed revenue to fund services, entitlement programs and to meet budget...more