Resources & Blog

On January 13, 2020, New Jersey Governor Phil Murphy signed into law NJ SB3246, the Pass-Through Business Alternative Income Tax Act, effective for tax years beginning on or after January 1, 2020. With this legislation, New Jersey joins Connecticut, Louisiana, Oklahoma, Rhode Island and Wisconsin in enacting some type of entity-level tax on pass-through entities […]

The minimum wage in New Jersey increases to $10.00 for employers with six or more employees on July 1, 2019, in accordance with the state’s minimum wage law. Incremental rate increases have been set to give certain employers additional time to comply. Click here for more details. DISCLOSURE LLI Advisory Group provides this information as […]

Gov. Phil Murphy promised during his campaign that would sign a law guaranteeing an occasional paid sick day to people employed in New Jersey, and he has kept that promise. On May 2, 2019, New Jersey became the 10th state in the United States to enact paid sick leave legislation. Read this article to learn […]

Governor Murphy signed the budget for New Jersey’s fiscal year 2019 late in the evening on July 1st after long negotiations with state legislators. Click here to read an outline of the main points. DISCLOSURE LLI Advisory Group provides this information as a service to clients and other friends for informational purposes only. It should […]

Governor Phil Murphy recently signed an order that established a task force to crack down on contractors who misclassify their employees as independent contractors. This practice is fraudulent, and companies that do not comply with the law will be put out of business.

When President Trump signed the new Tax Cuts and Jobs Act in mid-December 2017, the changes created quite a stir for tax advisors as they hurried to gain an understanding of this new legislation in time to make any necessary tax-related recommendations to their clients before year end. While advisors recommended certain obvious changes, one […]

Many healthcare practitioners are wondering how their practices are affected by the Tax Cuts and Jobs Act of 2017 and specifically, the 20% deduction for Qualified Business Income (QBI) for pass-through entities (sole proprietors, partnerships and S-corporations). Since healthcare is considered a specified service business, a dentist would only qualify for the 20% QBI deduction […]

For a complimentary, no obligation fiduciary review of your company’s retirement plan, please give us a call. Don’t wait for the Department of Labor to come calling! Are your employees being offered access to investment education? Do you know what fees you are paying for your current plan? Are you paying too much? Do you […]

The New Jersey Sales and Use Tax will be reduced in two phases between 2017 and 2018. As of January 1, 2017 the Sales and Use Tax rate has been reduced from 7% to 6.875% (P.L. 2016, c. 57). The tax rate will decrease to 6.625% on and after January 1, 2018. What does this […]