Alloy Silverstein’s Tax Tip of the Week   When you itemize your deductions, you can deduct either state and local income taxes or general state and local sales taxes on your 2016 tax return. But…

With a new President always comes a wave of uncertainty What’s proposed? What’s hearsay? What should you do no matter what?   Change is in the air in Washington, and many taxpayers are eager to…

Taxes are complex and mistakes are human nature.   However, some mistakes or late filings when it comes to your tax return can add up pretty quickly with interest and penalties.     According to…

With the rise in online commerce opportunities along with the current gig economy, the line between hobby and business is more blurred than ever.   Find out what the IRS looks for in determining whether…

Governor Christie to Keep Reciprocal Income Tax Agreement with Pennsylvania. On November 22, 2016 Governor Chris­tie announced that he will keep the long-standing agreement between New Jersey and Pennsylvania after all. Due to budget constraints,…

Knowing your filing status is important because it plays a crucial role in determining whether you need to file a return, the amount of your standard deduction, and the income breakpoints for tax brackets. Possessing…

Note: On November 22, 2016, Governor Christie reversed his decision to end the PA-NJ Tax Agreement. Click here to Read More     Previously Announced: In early September 2016, New Jersey Governor Chris Christie announced…

Associate partner Anne D’Amico, CPA/PFS offers advice on how to endure a smooth tax filing season each year.   Following are some simple steps you can take to decrease anxiety associated with the preparation of…