Tax Reform Update – Child Tax Credit – In 2018, Millions More Are Now Eligible
Under tax reform, starting in 2018, each of your qualifying children may qualify for a Child Tax Credit of up to $2,000. That is double what it was in [...]
Interview – Tax Reform Update – Case Study – 100k Family of 4, Deduction Limitations, Mortgage Interest
Topics: Case Study - Family of 4, Two Parents, Two Children, 100K of wages, renters wondering if buying a home is worth it. SALT Deduction Limitations, Mortgage Interest, Home Equity [...]
Memo – Professional Relationship Inventory
All of us should have a REAL PERSON to contact in the significant areas of our lives shown below. If you have NO contact, or only a customer service [...]
Tax Reform’s Impact – Case Study #4
FACTS: Family of 4, Two Parents, Two Children, 100K of wages. In 2017 they were renters. This case study will analyze and compare the same financial facts based on the [...]
Tax Reform’s Impact – Case Study #1
FACTS: Family of 4, Two Parents, Two Children, 230K of wages, homeowners with itemized deductions. Are you concerned about how the new law will impact your family's or business’ [...]
New Tax Season Notes – Helpful Checklists And Filing Information
Hello and Happy New Year! Tax Season is here again! Tax Preparation Checklist OVERVIEW I prepared this checklist to assist you in gathering your end-of-year income tax information. [...]
Memo – NY and NJ Minimum Wage Changes for 2018
NOTE: If viewing this memo using a phone or tablet, use landscape mode. New Jersey: $8.60 an hour New York State: New York’s minimum wage rate depends on the geographic location [...]
Trump Tax Plan Final Version Issued – Highlights Inside
The House-Senate conference committee has issued their final version of the Trump Tax Plan. I expect this to become law when it finally comes to a vote before Christmas. [...]
Tax ALERT! – Hotmail Users Targeted For Tax Scam
RED BANK NJ — I am warning taxpayers of a new email scam targeting Hotmail users that is being used to steal personal and financial information. The phishing email [...]
Tax Memo – Have “Unreimbursed Business Expenses?”, Ask For A Raise Immediately
Many employees pay for business related expenses that their employer does NOT reimburse. These are called Unreimbursed Business Expenses and they are taken as a deduction on Schedule A, [...]
Interview with Chris Whalen, CPA Trump’s Tax Plan Will Pass! What Steps To Take BEFORE January To Minimize Your 2017 Taxes
Listen to this informative interview with Chris Whalen, CPA where he discusses: Trump’s Tax Plan Will Pass! What Steps To Take BEFORE January To Minimize Your 2017 Taxes Click [...]
Tax Memo – NJ Sales Tax Rate Is 6.625% on January 1, 2018
Starting January 1, 2018, the Sales and Use Tax rate will decrease from 6.875% to 6.625%. Please prepare to update your records accordingly. The new tax rates will be: Atlantic [...]
Trump Tax Plan – Make Your 4th State Estimated Payment By December 31, not January 15
Trump's Tax Plan May Eliminate Your State Tax Deduction Be sure to make your 2017 4th State Estimated Payments BEFORE December 31, so you can deduct them on your [...]
Memo – NJ MAMApreneur Networking
To my female entrepreneur clients and colleagues, I discovered a female-only networking group that is worth checking out. Click on this link to learn more NJ MAMApreneur Networking [...]
Memo – (In The Black) Friday
(In the Black) Friday is coming! To all my procrastinator clients out there, who have been waiting to get their year-to-date information together, this Friday is not a shopping [...]
Memo – Were You a Client of MVP Financial or Scott Newsholme?
If you were a former client of MVP Financial or Scott Newsholme, I urge you to contact my office immediately. I have had a stream of their former clientele [...]
Memo – Tax Records Lost? Rebuild Them Using This Informative Memo
Reconstructing records after a disaster may be essential for tax purposes, getting federal assistance or insurance reimbursement. After a disaster, taxpayers might need certain records to prove their loss. [...]
Trump Tax Plan – Alimony Deduction, For Cases Settled after 2018, is ELIMINATED under Trump Tax Plan
Are you going through a divorce? Might there be alimony as part of your settlement? Will it not be settled before 12/31/2018? Trump's tax reform plan will eliminate the [...]
Tax Memo – Read The Entire Tax Cuts and Jobs Act
THESE PROPOSED TAX CHANGES ARE THE MOST SIGNIFICANT I HAVE SEEN IN MY CAREER. My team is actively monitoring this situation and how it may impact your family and [...]
Memo – If You Will Not Have Full Year Health Coverage in 2017, Read This Memo Now
The current law dictates that taxpayers who do not have (MEC) Minimum Essential (Health) Coverage, may have to pay a penalty when filing their tax returns. MEC is any [...]
Memo – Top 10 Tax Facts if You Sell Your Home
Do you know that if you sell your home and make a profit, the gain may not be taxable? That’s just one key tax rule that you should know. [...]
Still Not Filed Your 2016 Taxes? Time is Running Out! October 15th Is Quickly Approaching!
The last day to file your 2016 tax returns on time is October 15! If you have a history of tax filing procrastination and have not filed your 2016 [...]
Memo – Alimony – Paying It? Receiving It? You Need Tax and Financial Planning
My firm specializes in the income tax and financial implications of divorce. If you are in any stage of a divorce, and have not sought the advice of a [...]
Tax Memo – Newlywed? Finish that Champagne, Then Read These Important Tax Tips
Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on the list. However, there is [...]
Tax Memo – Seniors and Retirees – This Memo’s For You
My Retiree and Senior client base continues to grow, and with that comes special tax planning needs. There is so much information out there on taxes and from so [...]
Tax Memo – Shared Economy Issues – UBER, AIRBNB & Other Entrepreneurs
Note From Chris Whalen, CPA: This memo includes important information for all entrepreneurs as well as those participating in the Sharing Economy. If you use one of the many [...]
Tax Memo – IRS Expands Individual Online Info Available
Chris Whalen, CPA Note: The IRS Online tools can be very frustrating. Most of my clients give me a Power of Attorney so I can do this research for [...]
Tax Memo – Filing Taxes Late? Be Ready for Interest and Penalties
Note from Chris Whalen, CPA - Even if you cannot pay your tax, FILE YOUR TAXES ON TIME. You can always apply for an installment plan. Many taxpayers don't [...]
Memo – Trump Tax Plan Update #1
The following is an analysis of President Trump's proposed tax plan as presented on Wednesday April 26, 2017. Note from Chris Whalen, CPA - The information presented here is [...]
Tax Memo – It’s April 1st (My Birthday) Only 14 Days Until Tax Day!
It’s April 1st (my birthday, really) Do You Know Where Your Income Taxes Are? Only 14 days until April 15th!! Call Me So I Can Get Your Extensions Done. Click [...]