Resources & Blog

When we receive information about programs that could be beneficial to you, we like to pass it along. Please read the information below about a special membership offer from the AADOM. LLI ADVISORY GROUP SPECIAL ANNOUNCEMENT: In response to the COVID-19 outbreak, AADOM is opening up ALL member benefits so dental office management teams across […]

March 26, 2020 New Jersey A bill that has been passed by the New Jersey Legislature would extend the state’s tax filing deadline to June 30. The bill awaits Governor Murphy’s signature. The NJCPA is advocating for him to conditionally veto the bill to change that deadline to July 15. Either way, we’ve been assured […]

March 25, 2020 Recently, the IRS announced in Notice 2020-18 federal income tax return filing and payment relief in response to the coronavirus (COVID-19) emergency. Its release raised as many questions as it answered. On March 24, the IRS began the process of addressing those questions, through a series of Frequency Asked Questions, which it […]

In a tweet, Secretary of the Treasury Steven Mnuchin said, “At direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.” In a follow-up tweet, Mnuchin wrote, “I encourage all taxpayers who may have tax […]

From the NJ Department of Labor If you are an officer of a corporation, or you own more than a 5 percent equitable or debt interest in the corporation, and your unemployment claim is based on wages with the corporation, you will not be considered unemployed during your term of office or ownership. Your claim […]

March 19, 2020 In this ever-changing environment, all of us at LLI want to take a moment to reach out to you about our response to the COVID-19 Coronavirus. Be assured that we are doing everything we can to keep you informed of the daily updates as well as making ourselves available to all of […]

Following President Trump’s declaration of a national emergency, Treasury Secretary Steven Mnuchin stated at a press conference on March 17, 2020, that individuals can defer tax payments up to $1 million for 90 days. Corporations can defer up to $10 million of tax payments for 90 days. The $1 million limit for individuals was established […]

Coronavirus Response Act Late Monday evening, the House passed the Families First Coronavirus Response Act. The expectation is that the bill will go to the Senate on Tuesday, March 17th. The bill addresses Paid Sick and Paid Family and Medical Leave. Once the Senate passes and the President signs, we will review the Act and […]

We hope that you and your family are healthy and safe during this tumultuous time. The health and well-being of our loved ones and friends is our number one priority. Unfortunately, as of today, there has been no guidance from the Treasury Department or local jurisdictions regarding April 15th tax filings. We remind you that […]

The coronavirus has created a tumultuous financial environment. In times of uncertainty, you should consider taking the following steps to help you weather the storm: Secure a Business Line of Credit. Secure a Home Equity Line of Credit. Review your company retirement plans for loan provisions. Look to cash value in life insurance policies for […]