12 Days of Traditions - Day 6: Jonssen Angbetic

By Wiss, Posted in Wiss Gets Personal

Filipinos have always been superstitious, especially when it comes to the holiday seasons, and the New Year brings a lot of superstitious beliefs into action.  One of these beliefs/traditions is preparing what we call the “six bowls of blessings,” for a lack of a better term.  It consists of a tray with six containers/bowls of different items.  Each item has a different meaning for the upcoming new year:  Rice – An abundance in food, in hopes that we will never go hu... read more.

12 Days of Traditions - Day 5: Ruth Raftery

By Wiss, Posted in Wiss Gets Personal

A Christmas Eve Tradition Growing up in a Carpatho-Rusyn Family and attending a Russian Orthodox Church – Christmas Eve Dinner (called the Holy Supper) was full of symbolism and ethnic traditions.  First, the entire day was a strict fast day. That meant no meat or dairy was allowed.  The Supper consisted of 12 foods (no meat or dairy), symbolic of the 12 Apostles.  Foods included Kesalicha (a thick soup made with oats – that my cousin and I referred to as wallpaper paste),... read more.

12 Days of Traditions - Day 4: Jenna Sanfilippo

By Wiss, Posted in Wiss Gets Personal

Growing up I was always that little kid who drove my family nuts around the holidays. Either it was making a list for Santa that was taller than me or the Christmas Eve nights where I forced my sister to stay up and stake out the living room to catch Santa in the act. Even though, at the time, my family wanted to tie me up to make sure I wasn’t getting into any trouble, those are the silly memories that we always reminisce on each and every Christmas holiday! Since I was a baby, my Christmas traditio... read more.

IRS Serves Up Savings With the 45(B) Tax Credit

By Wiss, Posted in Food & Beverage

By James Jenco If you own a food and beverage establishment, you might be overpaying the IRS in payroll taxes. That could be the case if you’re not taking advantage of IRC 45(B). This rather little-known federal tax deduction could save you hundreds or even thousands of dollars a year, depending on the size of your tip-eligible workforce. Here’s how it works. Taxing Issues As you probably know, it’s your responsibility to pay the employer withholding tax on the FICA and Medicare wages o... read more.

12 Days of Traditions - Day 3: Chrissy Giamanco

By Wiss, Posted in Wiss Gets Personal

One of my favorite holiday traditions is one that our family looks forward to each year. It is not my personal family (Giamanco) tradition, but rather one that developed when my brother married his wife in 1982. My brother was in the Navy stationed in Virginia Beach and spent several weeks and months out to sea. During that time, funds were limited, so my sister-in-law started making Christmas ornaments to gift to our entire family. It started the first year, became her family tradition, and she has be... read more.

12 Days of Traditions - Day 2: Taylor Kolbeck

By Wiss, Posted in Wiss Gets Personal

Let me preface this by saying I love the holidays. Everything from the tree, music, lights, food, and most of all family. I even love Christmas movies. Not just any Christmas movies, but the B-rated ones with bad acting that they play on the Hallmark channel on the weekends. I think my love for this time of year comes from my grandma who I will reference as Nana from here on out, as she is way too cool to be just a grandma. While our tradition may not be unique, it is one that I hold dear in my memories. M... read more.

12 Days of Traditions - Day 1: Andrea Saenz

By Wiss, Posted in Wiss Gets Personal

My personal traditions include kicking off the holiday season as early as Thanksgiving. I join my church in collecting items that would make for a great Thanksgiving dinner with all the trimmings, even including a Turkey! We put it all together and deliver each basket to families in need. Below is a picture of some of the baskets we were able to put together. During the month of December, I gather with my church to put on our Santa Hats and hit the streets! We set up a stand and give out hot chocolate, coo... read more.

The Benefits of a Clean Chart of Accounts

By Wiss, Posted in Accounting and Auditing

By Wiss Associate As a business owner or executive, year-end processes and reporting can be a nightmare – but it doesn’t have to be. You don’t need to scramble when your accountant asks for your tax deductible items or when your auditor requests various reports so they can perform testing. It should be a simple process to go into your accounting system and run reports with 100% confidence they are complete and accurate. But how do you know if they are truly complete and accurate? It start... read more.

Holy Matrimony: Contractors and New Jersey Sales Tax

By Wiss, Posted in State & Local Tax Services

By Tim Kennedy Not all work performed on a property is created equal in the eyes of the tax collector. Some improvements fall into the realm of capital improvement, while others are considered repairs, and still others are maintenance services. Because New Jersey sales tax rules differ based on the type of work performed, it is important to understand the classifications to avoid paying too much or too little in taxes. Here’s what you need to know. What work is exempt from sales tax? For owners of... read more.

EB-5 Legislation Could Spell Change for Foreign Investors

By Wiss, Posted in International Tax Services

By Mark Feldstein The Immigrant Investor Program, more commonly known as EB-5, found itself in the news recently due to the introduction of a Congressional bill in July 2017 that could change qualifying terms. But first, let’s review the EB-5 program and how it currently affects foreign investors and entrepreneurs. Program Overview The federal EB-5 Program has been in effect since 1992. Its purpose is to provide U.S. visas and a path to citizenship for immigrants who invest at least $1 million in a... read more.