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 [...]
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 [...]
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 [...]
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’ [...]
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. [...]
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 [...]
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. [...]
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 [...]
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, [...]
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 [...]
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'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 [...]
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 [...]
(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 [...]
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 [...]
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. [...]
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 [...]
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 [...]
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 [...]
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. [...]
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 [...]
President Trump's election has caused an upheaval on so many levels, and the companies who get their managers and line employees educated will have the edge over their competition. [...]
Puerto Rico — Victims of Hurricane Irma that took place beginning on Sept. 5, 2017 in parts of the Commonwealth of Puerto Rico may qualify for tax relief from [...]
Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the [...]
Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing -- no matter what a person’s [...]
Chris Whalen, CPA Note: Don't roll the dice with your taxes! The best bet you can make is to choose the best CPA! You must report all gambling winnings as [...]
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 [...]
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 [...]
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 [...]
On Nov. 11, 2003, President Bush signed into law the Military Family Tax Relief Act of 2003. Among its provisions are these tax breaks related to military personnel: Death [...]