Robert A. Corsi, CPA LLC

Robert A. Corsi, CPA LLC Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Robert A. Corsi, CPA LLC, Accountant, 120 Eagle Rock Avenue , Suite 326, East Hanover, NJ.

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “...
06/05/2026

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “maybe.” This tax break allows eligible sole proprietors and owners of “pass-through” entities to deduct up to 20% of QBI. Pass-through entities include partnerships, S corporations and most limited liability companies. However, income from a rental real estate activity is QBI only if the activity rises to the level of a trade or business or meets an IRS safe harbor, which generally requires separate records, sufficient rental services and specific documentation. Various limits and other restrictions also apply. Call us at (973) 240-7443 to learn more.

In strategic planning, it can be hard for business owners to step back and evaluate opportunities objectively. An extern...
06/03/2026

In strategic planning, it can be hard for business owners to step back and evaluate opportunities objectively. An external advisory board can offer fresh, independent perspectives and seasoned guidance, especially when handling high-stakes, complex transactions. A board’s involvement can elevate professionalism, strengthen credibility with stakeholders and support smarter long-term decisions. Contact us at (973) 240-7443 to explore how creating an advisory board, or optimizing your current one, can help your business grow.

Trying to catch up? Employees age 50 and older are allowed to make extra, “catch-up” contributions to their 401(k) and s...
06/02/2026

Trying to catch up? Employees age 50 and older are allowed to make extra, “catch-up” contributions to their 401(k) and similar plans. In 2026, you can generally contribute an additional $8,000, for an annual maximum of $32,500. And, if you turn age 60, 61, 62 or 63 this year, you can contribute up to $35,750! However, there’s a catch. Recent tax law changes require certain high earners to invest catch-up contributions in a post-tax Roth account, such as a Roth 401(k). This may require additional planning. Call us at (973) 240-7443 to discuss how to reach your retirement savings goals.

Now is the perfect time to tidy up your QuickBooks files. Unreconciled accounts, uncategorized transactions and outdated...
06/01/2026

Now is the perfect time to tidy up your QuickBooks files. Unreconciled accounts, uncategorized transactions and outdated records can distort your cash flow and profitability. Even with QuickBooks’ automation tools and AI-enabled features, consistent review and oversight are essential. Don’t forget your chart of accounts! An outdated or cluttered chart can muddy your results, making it harder to understand your true performance. Clean books support better financial decisions and smoother tax filings. Call us at (973) 240-7443 to help get your bookkeeping in top shape.

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain busin...
05/29/2026

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at (973) 240-7443 to discuss whether this change will affect your company and how to plan accordingly.

Maintaining healthy operating cash flow helps drive your company’s success. But accomplishing this objective isn’t alway...
05/27/2026

Maintaining healthy operating cash flow helps drive your company’s success. But accomplishing this objective isn’t always easy. One practical approach is to speed up customer payments while carefully managing the timing of your own bills. Prudently shortening your cash conversion cycle can improve liquidity and give your business greater financial flexibility. Please call us at (973) 240-7443 for help identifying opportunities to strengthen your cash position and keep your business moving in the right direction.

Beginning July 4, 2026, parents, grandparents and others can contribute to Trump Accounts (TAs) for the benefit of eligi...
05/26/2026

Beginning July 4, 2026, parents, grandparents and others can contribute to Trump Accounts (TAs) for the benefit of eligible children. Certain children born 2025–2028 may also qualify for a $1,000 starter deposit from the federal government. TA contributions are generally limited to $5,000 per year (not counting the government deposit) and aren’t tax deductible. But earnings grow tax-deferred. At age 18, the TA will become a traditional IRA. For education goals, options like 529 plans may be better, because qualified education withdrawals are tax-free. Contact us at (973) 240-7443 to discuss what fits your family.

Fringe benefits offer multiple business advantages. They can boost morale, attract and retain top talent, and qualify fo...
05/25/2026

Fringe benefits offer multiple business advantages. They can boost morale, attract and retain top talent, and qualify for potential tax breaks. That’s why it’s smart to review which ones you sponsor and what you may be missing. Of course, you don’t want to spend time and resources sponsoring benefits your employees don’t value. And you must follow specific rules and documentation requirements to be eligible for tax-advantaged treatment. Contact us at (973) 240-7443 for help choosing the right fringe benefits for your business and managing the tax impact.

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the...
05/22/2026

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the “One Big Beautiful Bill Act” created the deduction of up to $25,000 per year for 2025 through 2028. Qualified tips generally refer to cash tips received by an individual in an occupation that “customarily and regularly” received tips on or before Dec. 31, 2024. The final regs list more than 70 eligible occupations. In addition to occupations previously listed in the proposed regs, the final regs add visual artists, floral designers and gas pump attendants. The final regs also provide clarifications to the definition of a qualified cash tip. For more details, call us at (973) 240-7443.

An estate plan helps ensure that your assets are distributed according to your wishes. It also can minimize taxes, safeg...
05/20/2026

An estate plan helps ensure that your assets are distributed according to your wishes. It also can minimize taxes, safeguard your minor children and support your charitable goals. If you haven’t reviewed your estate plan recently, call us at (973) 240-7443. We can help assess whether revisions are needed due to tax law changes or a major life event. If you don’t have an estate plan yet, we can help you get started.

Address

120 Eagle Rock Avenue , Suite 326
East Hanover, NJ
07936

Opening Hours

Monday 7am - 4pm
Tuesday 7am - 4pm
Wednesday 7am - 4pm
Thursday 7am - 4pm
Friday 7am - 4pm

Telephone

+19732407443

Website

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