Tag: NJCPA

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New Jersey’s Fiscal Problems are Biggest Concern for Business Owners says NJCPA

Phil Murphy

the satff of the Ridgewood blog

ROSELAND NJ, The greatest issue impacting the operation of a business in New Jersey over the next 12 months is the state’s fiscal problems, according to nearly 30 percent of the 347 respondents in a survey conducted by the New Jersey Society of CPAs (NJCPA) earlier this month. State and local taxes ranked second at nearly 27 percent.

On a broader scale, respondents cited high taxes, pension and health benefits funding for public employees, and regulatory burdens as the top issues that are likely to hinder the state’s future economic growth. Rising health care costs and decaying infrastructure also rounded out their main concerns.

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New Jersey Society of CPAs Reminds Taxpayers to Check Tax Withholding Amid Pending IRS W-4 Form Changes

W 4 Tax Form1

the staff of the Ridgewood blog

Ridgewood NJ,  The New Jersey Society of Certified Public Accountants (NJCPA) reminds taxpayers to review their current federal income tax withholding from their paychecks, particularly as the IRS is issuing a new Employee’s Withholding Allowance Certificate (Form W-4). The IRS issued a draft 2020 Form W-4 in May and expects to issue a final version in November.

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70 Percent of New Jersey CPAs Polled Say Governor Murphy’s Proposed Budget Will Make NJ’s Economy Worse

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the staff of the Ridgewood blog

ROSELAND, N.J. – Governor Murphy’s proposed budget will make the state’s economy worse over the long term, according to 70 percent of nearly 500 New Jersey CPAs polled by the New Jersey Society of Certified Public Accountants (NJCPA) earlier this month. More than 38 percent of respondents said the state’s economy would become “significantly worse” and 32 percent said it would become “marginally worse.” Only 12 percent said it would be better and 17 percent said it would “stay the same.”

Of those who responded negatively, most cited Governor Murphy not focusing enough on the amount of spending on public pension benefits in New Jersey in his budget proposal; high property taxes for both residents and businesses in the state; and implementation of the millionaire’s tax.

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New Jersey Society of CPAs Publishes Disaster Recovery Guide for Individuals and Businesses

storm_damage_theridgewoodblog

file photo by Boyd Loving

the staff of the Ridgewood

ROSELAND NJ,  In the wake of devasting storms that ravaged Florida and other parts of the East Coast lately, the New Jersey Society of Certified Public Accountants (NJCPA) is reminding New Jersey residents about its Disaster Recovery Guide. Designed to be a resource, the guide lists helpful information on how to replace lost or damaged personal documents when a disaster occurs.

The Disaster Recovery Guide is updated yearly with contact information for state and federal offices and insurance companies, as well as steps to replace credit card, passport, automobile or other documents. Information on how to avoid disaster-related fraud is also included.

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