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November 4, 2021
On October First, New Per Diem Rates Became Effective for Business Travel

After months of virtual meetings, your business’s employees may be finally resuming travel. If so, your employees can use the IRS’s “per diem” rates to substantiate the amount of expenses for lodging, meals, and incidental expenses while traveling away from home (or use a special transportation industry rate if your company works in the transportation […]

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October 29, 2021
How a Cost Segregation Study Can Help Your Business Save on Depreciation

If your business is depreciating the entire construction cost of the building that houses your operation over a 30-year period, a cost segregation study may be worth considering. Running a cost segregation study could allow your business to reduce taxes and boost cash flow by accelerating depreciation deductions on certain items. And as a result […]

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October 26, 2021
The Newly Expanded Employee Retention Credit: What You Need to Know

The recently expanded Employee Retention Credit provides immediate cash-flow relief to eligible employers that have been impacted by the COVID-19 pandemic.  Employers can receive as much as $5,000 per impacted employee for 2020 and up to $28,000 per impacted employee for 2021! Wondering what it means for you and how to take advantage of it? […]

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October 25, 2021
Effects of the COVID-19 Pandemic: 10 Areas to Focus On When Considering Your Financial Statements

Many businesses and not-for-profit organizations are still experiencing the adverse effects of the COVID-19 pandemic, but different organizations are affected differently depending on their geographic location and the nature of their operations.  If your organization only prepares its financial statements at the end of the year, you may not have considered how to factor the […]

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October 20, 2021
Smolin Voted Best of 2021 In New Jersey Law Journal Survey

We are pleased to announce that Smolin Lupin has been voted Best Business Accounting Provider and Best Matrimonial Valuation Provider in the most recent New Jersey Law Journal Best of Survey by the New Jersey legal community. The annual Best Of competition selects nominees from among industry resources, products, and service providers to be voted […]

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October 15, 2021
Does Your Accounting System Need an Upgrade?

It’s hard to make informed decisions for your business without timely access to financial data—but getting access to the right information at the right time can be a challenge, especially if your company is using an outdated accounting system. With the wrong system, entering and extracting data for specific customers and/or projects can take multiple, […]

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October 14, 2021
How to Assess the Effectiveness of Your Power of Attorney for Property

A power of attorney for property is included in many estate plans because it allows you to appoint another person to pay your bills, file your tax returns, manage your investments, and handle your property in the event that you’re unable to do so. However, some powers of attorney are less powerful and effective than […]

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October 12, 2021
How Flash Reports Can Give You More Timely Financial Reporting

Managers need timely access to financial reporting in order to make informed business decisions and respond promptly to new developments. Unfortunately, preparing financial statements under U.S. Generally Accepted Accounting Principles (GAAP) usually takes several weeks, and many companies wait until the end of the quarter or year to produce GAAP financial statements. Simple “flash” reports […]

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October 8, 2021
Important IRS Reporting Guidelines for M&A Transactions

According to financial data provider Refinitiv, global merger and acquisition (or M&A) activity is expected to set new records in 2021 in response to low interest rates and other factors. This year, the United States alone has already accounted for $2.14 trillion worth of transactions. If you’re in the process of an M&A transaction or […]

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