With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your business’s taxes for this year and next. The strategy of deferring income and accelerating deductions to minimize taxes can be effective for most businesses, as is the approach of bunching deductible expenses into this year or next… The post It’s Time for Your Business to Think About Year-End Tax Planning appeared first on Nisivoccia ..read more

In August, our firm hosted its annual Firm Meeting followed by a fun-filled Company Family Picnic at Alstede Farms. The day brought together our team members and their families for a chance to connect, reflect on our accomplishments, and enjoy a beautiful day outdoors. The Firm Meeting provided a platform for sharing updates, celebrating milestones,… The post Nisivoccia’s Annual Firm Meeting and Company Family Picnic at Alstede Farms appeared first on Nisivoccia ..read more

At Nisivoccia, we continuously strive to stay at the forefront of technological advancements in accounting, and we’re excited to share insights on AI’s role in accounting and how it’s shaping the future of Client Accounting Services (CAS). Learn more about AI and accounting and staying ahead of the curve when it comes to using available… The post Our Principal, Victoria Kosuda, Discusses AI’s Role in Accounting on NJBIA’s Expert Interview Series appeared first on Nisivoccia ..read more

Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How we got here The Tax Cuts and… The post The Possible Tax Landscape for Businesses in the Future appeared first on Nisivoccia ..read more

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation. You may expect to pay Uncle Sam the standard 15% or… The post Understanding Taxes on Real Estate Gains appeared first on Nisivoccia ..read more

Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply to the deductibility of business expenses and provide business taxpayers launching a website with some guidance about proper treatment. In addition, businesses can turn to… The post Business Website Expenses: How They’re Handled for Tax Purposes appeared first on Nisivoccia ..read more

Summer is a good time to reflect on tax planning moves that could lower this year’s tax bill. It appears there won’t be any significant federal tax changes that will take effect next year. If that’s an accurate prediction, this year’s tax planning environment is straightforward. Here are seven planning ideas to consider implementing between now… The post 7 Midyear Tax Planning Tips for Individuals appeared first on Nisivoccia ..read more

Artificial intelligence (AI) has been receiving plenty of press coverage lately, some of it positive and some of it negative. The truth is, like many technological innovations, AI is both rapidly evolving and far from infallible. It does, however, have the potential to transform many industries — including construction and real estate. That’s why forward-looking… The post Construction Companies and Real Estate Developers Should Keep an Eye on AI appeared first on Nisivoccia ..read more

At our annual food truck parking lot party, our Mt Arlington and Bridgewater offices enjoyed a special lunch treat on a sunny Thursday in July! Special thanks to our Quality-of-Life Committee and Connor Young for organizing the trucks and the event. Everyone has a great time, as you can see in the photos below of both our office parties, featuring delicious lunch, fun games of cornhole, and a sweet ice cream treat. The post Annual Food Truck Party appeared first on Nisivoccia ..read more

Ayla Narayan, Fortune Management, Executive Coach Every year we watch as the seasons come and go. The realization that the first half of 2024 is now over and all we can do is take a deep dive and analyze, could evoke complicated feelings for some business owners. Did we measure up to our best selves? Were our goals in line with what is “realistic”? While it is understandable that many of us ask these types of questions, I would encourage us to ask even better questions as we do our analysis. And analyze we must. Speaking to those who are dreading this particular task or meeting, I hope to enco ..read more