Articles Tagged - Changes

Impact of the New Tax Law on Engineering Firms

By Wiss, Posted in Engineering

The "Tax Cuts and Jobs Act" signed by President Trump on December 22, 2017, contains numerous provisions that impact business that specialize in providing professional services in the field of engineering.  Below is a summary of some of the key provisions:  Corporate and Non-corporate:   Limits on the Deduction of Business Interest - IRC Sec. 163(j) Generally, for tax years beginning after Dec. 31, 2017, every business, regardless of its form, will be subject to... 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.

How Proposed Changes to Form 5500 Could Impact Your Filing Requirements

By Wiss, Posted in Employee Benefit Plan Audits

By Wiss Associate If your company has an employee benefit plan, you should be familiar with IRS Form 5500, the form you use to report activity regarding your retirement and welfare plans. On July 11, 2016, the U.S. Department of Labor (DOL) proposed revisions to Form 5500 and the related schedules in an effort to promote more thorough monitoring of plans by employers, fiduciairies, participants and, of course, the DOL. Here are some of the changes and how they could significantly increase the annual repor... read more.