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Month: November 2022

Your Guide to 1099s

by Tania Vallarta, Megan Goldstein & Leonor DiStefano Introduction Every January, businesses must issue Form 1099-Misc or 1099-NEC to non-incorporated entities or individuals who they paid at least $600 by a method of payment other than credit card for performing a service to their business. Keep reading for best practices to help you stay in compliance! Form W-9 As soon as you engage a service provider and before you pay them, have them complete a form W-9. This provides you...

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Part 1: Maximizing Your Organization’s IT Investments

By Luis Vargas, Director, CFO Advisory This is part one of a seven-part series on maximizing your organization’s IT investments. Every organization must decide how to allocate limited human and financial resources across competing needs, and stakes are exceptionally high when selecting suitable IT investments. Research by McKinsey found that large IT projects run 45% over budget while delivering 56% less value than predicted. The same study found that 17% of IT investments...

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Plan Sponsor Alert: Digital Assets’ Potential Benefits and Risks

By Laura Zindel and Cindy Sandomenico Digital assets such as cryptocurrencies and non-fungible tokens (NFTs) are growing and disrupting the way consumers and businesses pay, bank, and invest. A recent survey by Capitalize found that 60 percent of respondents would like a cryptocurrency investment option in their 401(k) plans. Several service providers, including Fidelity, have responded to that request by offering 401(k) participants direct but limited cryptocurrency investment options....

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Confronting the Onshoring Workforce Crisis

For decades, the goal was globalization. In the early 1990s, the end of the Cold War and the growing ubiquity of the internet ushered in an age of new possibilities for American manufacturing, which caused supply chains to sprawl worldwide. Recent years have provided strong incentives to reverse this trend and encourage investment in reshoring. As BlackRock CEO Larry Fink noted in a March 2022 letter to shareholders, we are seeing the “end to the globalization we have experienced...

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$20 Million Dollar New Grant Program for New Jersey Manufacturers

By Russ Faye, Partner The New Jersey Manufacturers Voucher Program (“MVP”) which was  Announced by NJ Governor Murphy’s office on October 17, 2022,  aims to provide the state’s manufacturers with funding to access the equipment they need to grow operations, increase profits and enter emerging industries.  The $20 million pilot program offers NJ manufacturers grants ranging from 30% to 50% of the cost of eligible equipment, including installation, up to a maximum award amount of $250,000...

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