Latest News

Keeping you up to date on what's happening at the firm and with issues and regulations impacting your business.

Update Tax Filing Date: IRS Extends Deadline to July 15th

By mspccpas | March 23, 2020

As a follow-up to our previous post,  the IRS income tax filing and the deadline for making payments has been extended to July 15th.   Taxpayers can delay paying their income taxes on as much as $1 million in taxes owed for up to 90 days. Corporations that owe up to…

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IRS Extends Tax Payments Deadline – What This Means for You

By mspccpas | March 19, 2020

As everyone is aware, COVID-19 is impacting businesses around the globe. This week, US Treasury Secretary Steven Mnuchin announced that taxpayers can delay paying their income taxes on as much as $1 million in taxes owed for up to 90 days. Corporations that owe up to $10 million will also…

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401(k) Hardship Distributions

By mspccpas | December 13, 2019

Nearly 100 million people are participants in a 401(k) plan in the U.S. according to the U.S. Department of Labor.  Unfortunately, many of those participants are unable to leave 100% of their accounts available to use in retirement. This is because they face a financial hardship and need to take…

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MSPC CPAs Raises $10,000 to Children’s Specialized Hospital Foundation

By mspccpas | November 12, 2019

As part of its 75th-anniversary celebration, MSPC Certified Public Accountants and Advisors has committed to supporting Children’s Specialized Hospital Foundation as its charity of choice.   The full-service accounting and consulting firm with offices in New York and New Jersey selected the organization after an in-depth process to identify an…

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Missing Participants in Employee Benefit Plans

By mspccpas | August 13, 2019

By Robert Jannelli, CPA Are you the administrator of a Defined Contribution Retirement Plan?  Maybe you are a trustee of one of these types of employee benefit plans.  Or maybe you are the owner of a company that sponsors such a plan.  If you are and were asked the question…

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MSPC Company Store

By mspccpas | August 13, 2019

As MSPC continues the celebration of 75 years in business, the Cranford, NJ-based accounting and consulting firm has launched a company store. All employees of the firm received a $75 credit to the store as a reward for their hard work and dedication to MSPC’s clients. Clients and friends of…

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Changes Coming to IRS W-4

By mspccpas | June 24, 2019

In an effort to more accurately withhold employee wages in accordance with the 2017 Tax Cuts and Jobs Act (TCJA), the Internal Revenue Service (IRS) announced plans in September 2018 to implement a new version of Form W-4, Employee’s Withholding Allowance Certificate, by this year. However, due to a negative…

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Microsoft Dynamics GP Webinar

By mspccpas | May 10, 2019

If you missed our webinar, Rapid-Fire: 50 ISVs in 50 Minutes, you can listen to a recording of it here. A copy of the slides can be downloaded here. A list of the 50 ISVs can be downloaded here. If you need information about Microsoft Dynamics GP, Contact Sherryll Penney.

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Doing Business in the US Tax Guide Available

By mspccpas | April 15, 2019

Moore Stephens International’s Doing Business in the US Tax Guide is now available. This guide is designed for companies that want to undertake cross-border transactions, begin developing international operations, or expand their existing international footprint. MSPC’s Cathy Davis, Ryan Smith and Len Sprishen contributed to the content found in this…

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Opportunity Zone Investing

By mspccpas | April 1, 2019

Learn about how you can defer taxes while investing capital in low-income communities across the United States with this program created by the Tax Cuts and Jobs Act. Visit our website that is dedicated to all things, Opportunity Zones.

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Financial Success for Franchises

By mspccpas | February 2, 2019

The following article originally appeared in Global Franchise Magazine. As a CPA, I understand the growing interest in franchise opportunities, especially as the entrepreneurial spirit grows. I have seen many new franchisees succeed. However, I have seen others fail. Frequently, we can recognize the small missteps at the beginning of…

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New Tax Law for NJ Homeowners Renting Through Airbnb

By mspccpas | January 25, 2019

As part of the major tax law changes enacted in July 2018, a new state law requires that New Jersey’s 6.625% sales tax, 5% hotel occupancy fee, and 3% Meadowlands Regional Hotel Use Assessment (where applicable) be paid on “transient accommodations” (i.e., rooms or other living or sleeping spaces for…

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