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Learn how New Jersey taxes crypto in 2025. Get CPA insights on Bitcoin, Ethereum, NFTs, and IRS reporting rules to stay compliant and save money.

Hiring a Bookkeeper NJ — What’s Right for Your Business? Your first bookkeeping hire is a turning point. Should you bring someone in-house or outsource? Let’s break down the real numbers behind hiring a bookkeeper NJ business owners trust. In-House: Control, But More Overhead ✅ Pros: On-site access, immediate availability ❌ Cons: Salary ($50k+), benefits, training, turnover risk In-house works best for larger operations or multi-entity businesses. Outsourced: Professional Ove

CPA in Livingston NJ — How to Find Your Perfect Match Choosing a CPA is about more than numbers — it’s about trust, communication, and fit. Here’s how to evaluate a CPA in Livingston NJ who truly supports your business goals. 1. Ask About Experience in Your Industry A restaurant, salon, or crypto investor has very different needs. Ask your CPA how many clients like you they serve and what unique issues they’ve handled. 2. Evaluate Technology and Security Your CPA should use

Budgeting for Taxes Monthly NJ — A Smarter Way to Plan Tax season doesn’t have to mean stress. When you practice budgeting for taxes monthly NJ-style , you turn tax time into just another routine business task — predictable, paid for, and under control. Step 1: Know Your Tax Rates For most NJ small businesses, you’ll owe a combination of: Federal income tax (10 – 37 %) NJ income or corporate tax (5.5 – 9 %) Self-employment tax (15.3 %) Local or payroll taxes Your CPA can help

Depreciation Schedules NJ — Why They Matter Your depreciation schedules NJ track the value of business equipment, furniture, and vehicles over time. They ensure you claim the right tax deductions each year and keep your Balance Sheet accurate. Step 1: Create a Fixed Asset Register List each item with: Purchase date Description Cost Estimated useful life Depreciation method (MACRS, Straight-Line, etc.) Step 2: Record Monthly Depreciation Post a monthly or annual journal entry

Loan Paydowns NJ — How to Record Them Correctly Many business owners see a “big payment” to their lender and assume it’s all an expense. It’s not. Here’s how loan paydowns NJ should appear on your books. Principal vs. Interest: What Goes Where Payment Component Financial Statement Why It Matters Principal Balance Sheet Reduces liability, not deductible Interest Profit & Loss (Expense) Deductible business expense Example Monthly payment: $2,000 $1,500 → Loan Principal (Balance

Document Retention NJ — Keep It Safe, Not Stressful Wondering how long to keep receipts, tax forms, or payroll records? Every small business needs a document retention NJ plan that balances compliance with clutter control. The IRS Rule of Thumb Keep business tax records for at least 3 years, but in some cases, up to 7 years or longer. Quick Reference Chart Document Type Minimum Retention Notes Tax Returns & Support Docs 7 years Keep all filed returns & backup records Bank & C

S-Corp Health Insurance W-2 NJ — Get It Right the First Time If you own more than 2% of your S-Corp, your health insurance must be reported properly on your W-2 — or you could lose your deduction. Here’s how to handle S-Corp health insurance W-2 NJ filings accurately. Step 1: Pay the Premiums Through the Company The S-Corp should pay (or reimburse you) for the health insurance policy in the business name. Keep records of each payment. Step 2: Add to W-2 as Taxable Wages (Cod

Owner Draws vs Distributions vs Payroll NJ — How to Pay Yourself Right How you pay yourself affects your taxes, compliance, and audit risk. Here’s how owner draws vs distributions vs payroll NJ differ—and how to get it right. Sole Proprietors & Single-Member LLCs Use owner draws—not payroll. You don’t withhold taxes; instead, you pay income and self-employment tax on profits. Multi-Member LLCs Take distributions and possibly guaranteed payments. Partners are not W-2 employees