With recent New Jersey Top lawmakers introducing a bill to launch the Cannabis industry after voters made adult recreational use legal in the state. Will others in the Tri-state (New York and Connecticut) follow? Will neighboring states Pennsylvania and Delaware get in on the action as well? Cannabis The Cannabis industry has been a… Read more »
Category: Smyle & Associates Blog
Ten Mistakes Even Smart Employees Make as First-Time Entrepreneurs
With the rise of the gig economy, even longtime traditional employees may consider going into business for themselves. I made the switch from employee to entrepreneur 13 years ago for the flexibility and unlimited earning potential, and now I would never go back. That said, it took me four years before I even identified as… Read more »
Equity Received Subject to Vesting Period
Do you work for a corporation or a partnership and are granted equity in connection with the performance of services that is subject to a vesting period? In general, for tax purposes, the equity is not a reportable and is taxable until the vesting period is satisfied. As an example, on 2/1/2020 Individual A, an… Read more »
How to Adjust and Grow your Business in a Pandemic Recession
During economic downturn seeds an opportunity for every business to grow. But not every business sees it this way. Majority of businesses begin to back pedal and start cutting spending on core essential services. The business that views recession not through fear, but through the lens of opportunity will grow and survive. Businesses that grow… Read more »
Is working Virtual the new Accounting Industry Norm
Commuting near and far to an office space has always been the norm for 9-5 workers. But the recent unforeseen deadly Coronavirus has forced us to adopt to new rules. Most accounting work requires physical and personal interaction with one another. With social distancing rules still in effect, will the new way we conduct business… Read more »