It is not too early to start tax planning for the year to come. In addition to the planning changes in tax benefit phaseouts and other cost of living (COLA) adjustments, here are changes to…

Did you know that Medicare premiums are calculated based on the Modified Adjusted Gross Income (MAGI) of your prior year’s tax return? Did you know that you and your spouse pay the same for Medicare…

Tax Update for NJ Pass-Through Entities Act quickly to save tax dollars thanks to new legislation.   What is it? New Jersey recently enacted the Pass-Through Business Alternative Income Tax Act (NJ BAIT) in an…

New taxpayer relief initiative The IRS has made a number of changes designed to help struggling taxpayers impacted by COVID-19. These include an extension of the short-term payment plan option from 120 days to 180…

Before you turn the page on this unprecedented year of change, consider making some changes that can improve your finances into 2021. Here are four suggestions to get you started. Take advantage of your company’s…

If you’re one of the millions of Americans who has lost work due to the pandemic, there are ways to reduce your 2020 taxes and get aid now. Among them: Take tax credits. With your…

As we approach the year’s end, many taxpayers think about making contributions to their favorite charities.  The needs this year may be greater than ever.  Don’t get burned because you don’t know the rules. Make…

Millions of Americans are adjusting to new back-to-school and work realities. Many area schools are adopting a mix of in-person and online classes. Similarly, some businesses are using a hybrid approach for the worksite. How…