Completing a US Form 706 (US Gross Estate Tax Return) allows a decedent who is married and does not fully use his $5,250,000 exemption, to pass his unused exemption (“Decease Spousal Unused Exclusion or DSUE”) to his spouse. This is known as portability.

After Hurricane Sandy hit, the NJ Division of Taxation was flooded (no pun intended) with inquiries regarding the taxability of repairs. As a result, a helpful “Sales and Use Tax – Frequently Asked Questions” page has been added to its website. This article has the answers, including whether charges for demolition services or tree removal are subject to tax.

What is the Flint assessment? The NJ DOL borrowed money from the federal government to pay Unemployment Insurance Benefits. NJ law requires the government to pass on the interest costs of the loan to NJ employers. Is this something new? It’s comparatively new. This is the third year of the assessment. How much is it? [...]

It’s not uncommon for one’s spouse to work in the family business, whether as office manager or in some other capacity. Let’s assume that Dr. Sally Surgeon owns a medical practice. Her husband, Josh, is in charge of all IT operations and billing. Is it worthwhile for both spouses to receive a salary? At first [...]

On Tuesday, June 4, 2013, Urbach & Avraham will be hosting a fascinating and informative presentation by Bonnie Kantor, a Constant Contact Authorized Local Expert. She will be presenting a guided demonstration on the tools and features of Constant Contact’s email marketing system. This event is part of an ongoing series of seminars by Urbach & Avraham, CPAs, to help businesses increase their revenue through marketing and finance management. The event is free, but space is limited.

Beginning May 7, 2013, employers must use a new and revised version of the Employment Eligibility Verification Form I-9 for new hires (employees who do not require re-verification do not need a new form). Form I-9 has been expanded from one page into two, and has several revisions including additional data fields and improved instructions.

Congratulations to Claire Snow on her well-deserved designation as a Certified Public Accountant (CPA). Claire passed all four sections of the CPA exam on the first sitting. As an integral member of the Urbach & Avraham team for the past 7 years, Claire has continually refined her tax and accounting skills. Clients from a wide range of industries have benefited from her expertise, including medical and health care practices and staffing agencies.

Two recent verdicts involving unreported foreign asset reporting highlight the same moral: do the right thing (or go to jail).

If you have foreign bank accounts holding more than $10,000 in the aggregate anytime during the year, you are required to file an FBAR (Report of Foreign Bank Accounts) by June 30th of the following year.

Join us on Tuesday, March 19, 2013, for a fascinating and informative presentation by Bonnie Kantor, a Constant Contact Authorized Local Expert. She will be presenting a guided demonstration on the tools and features of Constant Contact’s email marketing system. The event is free, but space is limited. To register, call Pamela Avraham at 732-777-1158 or e-mail pma@ua-cpas.com.