Corporate Asset and Stock Deals
Corporate mergers and acquisitions are generally classified as either stock or asset deals, and the tax consequences for the buyer and seller vary accordingly. …
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Changes to the NJ Corporation Business Tax Act
On June 30, 2023, New Jersey’s legislature approved a significant corporation business tax (CBT) overhaul, the key provisions of which include: Please contact your…
MSPC Names Najoung Kim, CPA as Partner
MSPC Certified Public Accountants and Advisors, PC is pleased to announce that Najoung Kim has been named a partner in the firm. Najoung joined…
Recent Developments in FBAR Filing Requirements
It is important to be aware that failing to file a Report of Foreign Bank and Financial Account (FBAR) can result in severe financial…
Len Sprishen Promoted to Director of Global Tax Advisory
Cranford, NJ — MSPC Certified Public Accountants and Advisors is pleased to announce the promotion of Len Sprishen, J.D., LL.M to Director of Global…
New Jersey Cannabis Business Applications
New Jersey’s Cannabis Regulatory Commission (“CRC”) has announced that it will soon begin accepting applications for licensure of cannabis businesses. Recently issued regulations provide…
Post-Pandemic Tax Savings
The world has changed in the last two years, especially when it comes to employment. As more employees are enjoying the benefits of working…
Officer Compensation
In the case of Hacker, T.C. Memo 2021-186, the U.S. Tax Court has held that two corporate officers were employees of the corporation they owned…
Advance Child Tax Credit
In a recently published FAQ, the IRS stated that Advance Child Tax Credit payments cannot be counted as income when determining if the recipient taxpayer…
New York Marijuana Law: What Businesses Need to Know
On March 31, 2021, New York State (NYS) became the sixteenth state to legalize marijuana for recreational use. Under the new law, it is…
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