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state income tax nexus
State Income Tax Nexus: What You Need to Know 956 562 smolinlupinco

State Income Tax Nexus: What You Need to Know

Supreme Court precedent once prohibited states from collecting sales tax from out-of-state businesses lacking an in-state physical presence, no matter how much the company made in sales—but this has recently changed.  With the United States Supreme Court decision in South Dakota v. Wayfair, Inc., individuals and businesses that sell products out of state are liable…

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Smolin Lupin 75th Anniversary
Smolin, Lupin & Co., LLC Celebrates 75 Years of Excellence 1600 837 smolinlupinco

Smolin, Lupin & Co., LLC Celebrates 75 Years of Excellence

Smolin Lupin, an Independent Member of the BDO Alliance USA and one of the NJBIZ Top 20 Public Accounting Firms in New Jersey, is celebrating 75 years of excellent accounting services helping clients achieve success.  Since 1947, Smolin Lupin has been dedicated to developing long-lasting client relationships by providing professional financial and accounting services uniquely…

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Which Vehicles Are the Most Tax-Friendly for Business Owners? 850 500 smolinlupinco

Which Vehicles Are the Most Tax-Friendly for Business Owners?

If your business is preparing to replace a vehicle or buy a new one, you should know that a heavy SUV might provide a more substantial tax break this year than what you’d receive from a smaller vehicle.  The reason? Larger business vehicles are depreciated differently on your tax returns than smaller ones.  Depreciation guidelines…

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What You Need to Know About Claiming Losses on Depreciated Stock 1275 750 smolinlupinco

What You Need to Know About Claiming Losses on Depreciated Stock

Do you own stock in a company whose shares dropped sharply in value or even became worthless after you purchased them? You may be tempted to simply put it behind you, but it’s important to remember that you can claim a capital loss deduction on your next tax return. Here’s what you need to know…

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understanding-after-tax-contributions-roth-401k-and-roth-ira
Understanding After-Tax Contributions: ROTH 401(k) and ROTH IRA 1600 941 smolinlupinco

Understanding After-Tax Contributions: ROTH 401(k) and ROTH IRA

Did you know that when it comes to your retirement account, not all contributions are created equal? Tax implications can have a significant impact on your savings.  In fact, after-tax contributions to a ROTH 401(k) or ROTH IRA can offer significant tax benefits while traditional 401(k)s and IRAs don’t—just one of many reasons you might…

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Understanding the Tax Implications of Merger and Acquisition Transactions
Understanding the Tax Implications of Merger and Acquisition Transactions 1600 941 smolinlupinco

Understanding the Tax Implications of Merger and Acquisition Transactions

As a result of rising interest rates and a slowing economy, last year’s merger and acquisition (M&A) activity decreased significantly. According to S&P Global Market Intelligence, the total value of M&A transactions in North America was down 41.4% in 2022 (compared to 2021).  But in 2023, some analysts anticipate increased M&A activity in some industries.…

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what-you-need-to-know-about-retirement-plan-early-withdrawals
What You Need to Know About Retirement Plan Early Withdrawals 1600 941 smolinlupinco

What You Need to Know About Retirement Plan Early Withdrawals

Retirement plan distributions are typically subject to income tax. If you take an early withdrawal, they may be subject to additional tax penalties. But what defines “early?”  Generally, it’s when withdrawals are taken out of a traditional IRA or another qualified retirement plan before the plan participant reaches the age of 59½.  These distributions are…

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what-you-need-to-know-about-funding-your-revocable-trust-strong
What You Need to Know About Funding Your Revocable Trust 1600 941 smolinlupinco

What You Need to Know About Funding Your Revocable Trust

Revocable trusts, sometimes called “living trusts,” can offer substantial benefits. In the event that you become incapacitated, for example, they facilitate the management of your assets. They can also help avoid probate of said assets.  But before you can obtain these benefits, you must fund the trust. In other words, you must transfer the title…

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how-do-auditors-evaluate-accounting-estimates
How Do Auditors Evaluate Accounting Estimates?  1600 942 smolinlupinco

How Do Auditors Evaluate Accounting Estimates? 

When businesses report their finances, they often use accounting estimates determined by management. For example:   Allowance for doubtful accounts Warranty obligations Costs of pending litigation Goodwill impairment Fair values of acquired intangible assets When auditors evaluate the amounts reported on these financial statements, how do they determine whether those amounts are reasonable?  Methods used to…

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5-reasons-to-outsource-your-accounting-needs
5 Reasons to Outsource Your Accounting Needs 1600 941 smolinlupinco

5 Reasons to Outsource Your Accounting Needs

CPA firms don’t just do audits and tax returns. They’re also available to help with your everyday accounting needs, from advisory services to payroll and sales tax filing.  Is it time for your business to outsource its accounting needs? Here are five reasons you should hire a CPA.  1. Professional insights When you outsource your…

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answers-to-your-tax-season-faqs
Answers to Your Tax Season FAQs 1600 942 smolinlupinco

Answers to Your Tax Season FAQs

On January 23, the IRS opened the 2023 individual income tax return filing season for accepting and processing returns for the 2022 tax year.  If you typically file closer to the mid-April deadline (or if you file for an extension), you may want to consider filing your taxes earlier this year. And it’s not just…

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lifetime-gifts-vs-bequests-at-death-which-option-is-right-for-you
Lifetime Gifts vs. Bequests at Death: Which Option is Right For You? 1600 941 smolinlupinco

Lifetime Gifts vs. Bequests at Death: Which Option is Right For You?

One of the primary goals of estate planning is to pass along as much of your wealth and assets as possible to your family, which involves protecting your estate from gift and estate taxes. One way to do this is by giving gifts during your lifetime.  Considering the inflation-adjusted $12.92 million gift and estate tax…

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leverage our expertise.

Our experts can present you with a clear, understandable approach to your finances. You can rely on insights provided in the Blog by Smolin Lupin, which is part of our commitment to your financial clarity. We can help you:

  • Develop insights into new markets
  • Streamline operations
  • Raise capital, control risks
  • Devise tax strategies
  • Maintain research and development
  • Help position your business for long-term growth in emerging fields

For biotechnology accounting advice tailored to your needs, contact your trusted Smolin advisor today.

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