What is a tax extension and how does it work? Most people really don’t like doing their taxes, and some wait until the very last minute. “Oh, I’ll just get an extension”, they say. Is…

What is the Kiddie Tax? We’re not talking about taxes on gambling or kids. We’re talking about a special set of rules for what to do if a child has unearned income (like interest, dividends,…

Is there an age limit on claiming my child as a dependent? It’s important to remember that there were no personal exemptions for dependents through the tax year 2025. It still matters, however, whether or…

Beginning in 2022, New Jersey has three new tax deductions called the College Affordability Deductions. These deductions will help you if you’re saving for college, if you’re currently attending and paying tuition, or if you’re…

Are you required to make estimated tax payments? Individuals, including sole proprietors, partners and S Corp shareholders, typically have to make estimated tax payments if they expect to owe tax. If you receive salaries and…

Did you know you can still get the benefit of a charitable deduction even if you don’t itemize? If you are taking required minimum distributions from an IRA and also make charitable contributions during the…

Let’s talk about audit red flags. Nobody wants to be audited by the IRS. Even if your tax return is perfect and you have all of the documentation required to prove your deductions, it’s still…

The IRS has issued a renewed warning on Employee Retention Credit (ERC) claims. In recent months, promoters and other third parties have continuously pushed ineligible taxpayers to file for the Employee Retention Credit even when…