Category: Business

Unemployment Benefits: Owners and Spouses

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 […]
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COVID-19 Update

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 […]
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Treasury Secretary Announces 90-day Payment Extension for Most Taxpayers

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 […]
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Coronavirus Response Act

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 […]
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Tax Filing Reminder

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 […]
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Things to Consider in Times of Financial Uncertainty

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 […]
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Pass-Through Business Alternative Income Tax Act

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 […]
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NJ Minimum Wage Increase

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 […]
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What You Need to Know About New Jersey’s Paid Sick Leave Law

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 […]
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Governor Murphy Signs New Jersey Budget

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 […]
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