Memo – Think You’re Middle Class? You Probably Aren’t
Do you think you are “middle class?” Most likely you are not, although your parents and grandparents were. From an economic, tax and family perspective we have been degraded closer [...]
About Chris Whalen, CPA
I’m Chris Whalen, CPA. For over thirty years I have been the owner and Managing Member of a Certified Public Accounting and Business Advisory firm providing a full range of income tax, accounting and advisory services for individuals and businesses. I am licensed in all states and serve clients throughout the country but extensively in Red Bank, Middletown, Rumson, Colts Neck, Holmdel, Monmouth County and Ocean County.Tax Memo – Beware of Fake IRS Tax Bill Notices
Chris Whalen, CPA is issuing a warning to all taxpayers of fake IRS tax bills they may receive related to the Affordable Care Act. We have received numerous reports of [...]
Tax Memo – 2017 Pension Plan / IRA / 401K Limitations
Highlights of changes for 2017 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017. The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), [...]
Post 2016 Election Roundtable with Chris Whalen, CPA
Join Chris Whalen, CPA and Ted Hicks as they discuss how the election of Donald Trump may impact the future our families, businesses and country. Please reach out to me [...]
Memo – Underground Storage Tank? Don’t Panic, You Might be Covered
Old storage tanks can present significant and complex problems. Discovering a leaking underground storage tank can be nightmare for property owners, particularly in New Jersey. New Jersey requires disclosure of [...]
Tax Memo – Does Your CPA Keep Your Personal Information In The Cloud?
Where does your CPA / Tax Preparer store your personal financial data? Do you know? We all hear constantly of "cloud based" servers being hacked and millions of identities [...]
Tax Memo – Tax Benefits Increasing in 2017
The IRS has announced the tax year 2017 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax changes. The tax year 2017 [...]
Memo – In A 401K? Check Your Fees TODAY
Information in this Memo: Why consider fees? What are 401(k) plan fees and who pays for them? What fees are associated with my investment choices in a 401(k) plan? [...]
Election Memo – NJ Voters – VOTE YES TO DEDICATE GAS TAX TO TRANSPORTATION ONLY
On November 8, New Jerseyans will have an opportunity to vote on an amendment to the New Jersey constitution that would mandate that all revenue raised by the state's motor [...]
Tax Memo – FBAR – Things You Need to Know
Do you have any money or assets outside the U.S.? Seems like a pretty straightforward question, doesn’t it? Well, a lot of people are surprised to learn that they do [...]
Memo – You Need A Business Line of Credit – Here’s Why
If you only take away from concept from this memo, let it be this. The best time to apply for a line of credit is when you don’t need one. [...]
Tax Memo – FAQ on Capital Gains, Losses and Sale of Home
My Top FAQs for Capital Gains, Losses, and Sale of Home What is the basis of property received as a gift? If I sell my home and use the money [...]
Tax Memo – 2017 Tax Rates Announced by IRS
NOTE: With the election of Donald Trump, these rates are subject to change. The IRS has announced the 2017 Tax Rates. How much tax will you be paying in [...]
Tax Memo – What Entity Type Is Best When Seeking Venture Capital?
To listen to the podcast version of this memo click here –> Podcast Version Do you have questions? Call me: 732-673-0510. Note from Chris Whalen, CPA: Starting a business is [...]
Memo – Please Become a Blood Donor!
Please donate blood! This saves lives and is extremely healthy, especially for men. I gave today. You are allowed to donate a pint of blood every 56 days. I know [...]
Tax Memo – Identity Stolen? Take These Steps Immediately
Identity Theft is on the rise nationally. If you have been victimized, there are steps that you can immediately take to protect yourself and mitigate your future losses. These steps start [...]
Tax Memo – 2017 IRS Refunds Will Be Delayed – Plan Now
I am encouraging my clients to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. Taking a closer look at the taxes being withheld [...]
Tax Memo – Afraid To File Your Taxes? Don’t Be!
Please read and share this informative memo. Click Here To Read The Memo Please reach out to me without hesitation with any tax, business or accounting question, and to schedule [...]
Tax Memo – New Overtime Rules
Note from Chris Whalen, CPA: The New Overtime Rules Impact EVERYONE, employers and employees alike. So please take a moment and see how this may impact you, your family and [...]
Tax Memo – What Medical Expenses Can You Deduct?
I get this question almost everyday. Many people miss out on medical deductions for two reasons: They believe that they will not have enough to reach the minimum based on [...]
Tax Memo – Rollovers from IRAs and Pension Plans – Timing is Everything
The IRS Has Eased Rules on the timing of IRA and Pension Rollovers The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions [...]
Tax Memo – Charitable Contributions – My Top Tips
Fall marks the beginning of charitable gift giving season. Remember, your donation or gift must be made by December 31 in order for it to be deductible in the current [...]
Tax Memo – The IRS WILL NOT Email You, Ever.
If you receive an email that seems to be from the IRS, DO NOT OPEN IT. DO NOT CLICK ON ANY ATTACHMENT. The IRS will not email any taxpayer. The [...]
Tax Memo – Death and Tax Refunds
A decade ago, few of us had heard of identity theft. Now, most of us know someone who has been a victim. And of course, a large portion of ID [...]
Tax Memo – W2 and 1099 Filing Deadlines have changed for 2016
For 2016, there are new filing deadlines for W2s and 1099-Misc forms as follows: Form Recipent Due Date Government Copy Due Date W2 January 31, 2017 January 31, 2017 [...]
Tax Memo – Five Tips on Estimated Tax Payments
You usually will have taxes withheld from your pay if you are an employee. However, if you don’t have taxes withheld, or you don’t have enough tax withheld, you may [...]
Tax Memo – Do You Have Qualifying Health Care Coverage?
The individual shared responsibility provision requires you and each member of your family to have basic health coverage – also known as minimum essential coverage – qualify for a health [...]
EBook – NJ Real Estate Exit Tax by Chris Whalen, CPA
Click HERE to read my free EBook on NJ Exit Tax. Please reach out to me without hesitation with any tax, business or accounting question, and to schedule a consultation. Tax [...]
Tax Memo – Back to School Tax Tips
With the start of school just around the corner, parents should be aware of the following tax breaks and deductions available for qualifying expenses. Private School Tuition and School Uniforms [...]
Tax Memo – IRS Tax Refunds – Your Questions Answered
Here are the top 21 questions I get regarding IRS Refunds. Q1: How quickly will I get my refund? The IRS issues most refunds in less than 21 calendar [...]