My True Self: A Story of Acceptance and Change

By Wiss, Posted in Wiss Gets Personal

By Joel Bockhorn When I was younger, both in Middle and High School, coming to terms with my true identity was a serious challenge. I wanted to have a happy and successful future, but based on what I had come to understand about myself, I feared I wouldn’t have the opportunity to live the future that I wanted, or even have the same privileges that others had. Near the end of my time in Middle School, I had figured out that I was gay. It was something that although I knew was true, I couldn’t a... read more.

Developing Resiliency - Are You a Carrot, an Egg, or a Coffee Bean?

By Wiss, Posted in Wiss Gets Personal

By Kimberly Bustamante A young woman spoke with her mother about how hard things were for her in her life. As soon as one problem was solved, a new one arose. She did not know how she was going to make it. She wanted to give up. She was tired of fighting and struggling. Her mother took her to the kitchen and filled three pots with water, placing each on a high fire. The pots came to boil. In the first she placed carrots, in the second - eggs, and in the last she placed ground coffee. She le... read more.

Preparing for Change: New Rules to Impact NJ Renewal Registration for Nonprofits

By Wiss, Posted in Not For Profit

By Linda Curro Effective Jan. 1, 2017, New Jersey will require that all charity registrations and annual renewals be submitted digitally, using a new online filing system. In many ways, this is good news: A process that once required up to 75 pages of documents to be sent via snail mail will now go paperless, saving tons of waste. The new system also promises to streamline renewal reviews, enabling the state to more efficiently verify that the forms are completed and accurate. And in switching to online fi... read more.

Preparing for a Financial Audit

By Wiss, Posted in Accounting and Auditing

By Randy Cohen “We’re being audited.” Those three little words can strike fear into the heart of any executive. Nobody likes the prospect of an outsider combing through the books and potentially exposing errors. Yet as unpleasant as a financial audit can be, with the right attitude and approach, it can prove a valuable tool for improving your business — and an auditor can be viewed as a trusted adviser instead of as an adversary. The key to an efficient and successful financial au... read more.

Governor Christie Keeps Reciprocal Agreement

By Wiss, Posted in State & Local Tax Services

By Michele Vetlov In order to boost the state's revenues, Governor Christie withdrew from a decades old tax agreement with Pennsylvania back in September. It left many business owners and employees anxious about 2017 income taxes and filings. Read in our past blog post about the repercussions of withdrawing from the agreement. On November 22, Gov. Christie announced that the reciprocal agreement with Pennsylvania will remain in place.  New Jersey and Pennsylvania residents that work in opposite state... read more.

The Importance of Cultivating Relationships at Work

By Wiss, Posted in Workplace Culture

By Lisa Calick Just as maintaining solid relationships among family and friends is vital to a sense of well-being in our personal lives, building relationships is also critical for success in the workplace. A LinkedIn study revealed that 46 percent of professionals around the world believe that their friendships at work play an important role in their overall happiness. These bonds are particularly significant to millennials, who are more likely than older generations to share highly personal details about... read more.

Trump & Republican Tax Proposal

By Wiss, Posted in Tax Services

By Evan Gernant With Donald Trump set to move into the United States Presidency in January of 2017 and Republicans retaining control of both houses of Congress, the chances of us seeing significant tax legislation in the near term are likely. During his campaign, president-elect Trump put forward various proposals for substantial changes to the United States tax code. Furthermore, in June of 2016, House Republicans issued their “blueprint” for tax reform. Many of the Trump and House tax proposa... read more.

Alleviate Additional Year-End Reporting Stress by Simplifying the 1099 Process

By Wiss, Posted in Advisory Services

By Felice Rudolph If your company works with nonemployee service providers “in the course of business,” you may be subject to 1099 reporting requirements. Failing to file these forms may result in penalties, so here’s what you need to know to keep your business in compliance. 1099 reporting requirements You’re required to send 1099-MISC forms to vendors when payments to them total $600 or more during the calendar year for: Services performed for your business by someone who&rsq... read more.

When 401(k) Loans are Considered to be in Default

By Wiss, Posted in Employee Benefit Plan Audits

By Laura Zindel Taking out a 401(k) loan can seem like a relatively simple way to borrow money. It is a very common practice, but many employees who borrow from their plans aren’t prepared for the financial consequences of doing so if a loan ends up in default. The most common reason for defaulting on a 401(k) loan is the loss of a job. If the employee loses his or her job, the plan document rule requires that any outstanding loan balance must be repaid within a certain timeframe, based on when the... read more.

3 Reasons Why It's Important to Understand Your Cap Table

By Wiss, Posted in Emerging Companies

By Ryan S. Silva Very often some of the most promising early stage growth companies find themselves challenged when asked about their cap table. Simply put, the cap table should list all the securities of the company (i.e., stock options, warrants, convertible debt, SAFE, etc.) and who owns them. This isn’t difficult when it’s just a few people, but as the capital structure becomes more complex from financing transactions, the cap table usually does as well. This is generally because some of th... read more.