Best Wishes for a Happy, Healthy and Prosperous New Year
January 2020
New Jersey Flow Through Tax Legislation
to Help Business Owners
What an interesting ride it has been since I first sent a letter to Governor-Elect Phil Murphy offering a workaround solution for the State and Local Income Tax (SALT) deduction limitations that had been enacted as a result of the federal Tax Cut and Jobs Act of 2018 (TCJA). At that time, I had no idea what would transpire as a result of my letter, much less anticipate that I would have a front row seat on the journey toward the legislation that would eventually incorporate key tenets of my suggestion. 

How it all began
My intention in writing this article is to discuss the law and its impact on business owners in New Jersey, while at the same time taking this opportunity to share my personal experiences throughout the legislative process as my original concept evolved into tax law.
What's New at SobelCo
Look what's new this month at SobelCo

Charitable Contributions Directly from an IRA
The 2017 tax law changes have made certain charitable giving techniques more valuable for you. One of these techniques is to give charitable contributions directly from an Individual Retirement Account (IRA).

These contributions count toward your required minimum distribution (the amount you are required to withdraw from your IRA in a year).

Here is how it can work: Assume Fred and Pearl are a married couple living in New Jersey. They are both 75 years old.  They have $120,000 in distributions from IRAs, $20,000 of taxable interest income, and $85,000 of tax-exempt interest income. Their property taxes are $25,000 (of which $10,000 is deductible) and they contribute $16,000 to charity, the bulk to their alma mater.
Integration of an Employee Benefit Plan During a Merger

From global, publicly-owned corporations to privately-held, mid-size owner-operated businesses, today’s economic landscape encourages merger and acquisition (M&A) activities more than ever.

The M&A trend continues!!
Just two years ago, the Global Confidence Barometer survey reported that 75% of employers in the United States were pursuing an M&A deal within the year. This movement may be fueled, in part, by the surge in Baby Boomers preparing to leave the workforce in a great ‘migration’ that is anticipated to affect business ownership and continuity. While some CEOs and owners have seamless succession plans in place, others do not – and their organizations may rely on outside deals to ensure their sustainability and continuing legacy.
February 13, 2020
Employee Benefit Webinar
February 13, 2020
APICS & SobelCo's Business Networking for Manufacturer
March 18, 2020
Executive Women's Leadership Breakfast