A reader recently submitted a question to the ‘Ask NJ Money Help’ column asking how to lower their daughter’s taxes. Howard Hook was invited to weigh in. His response breaks down the difference between tax liability and tax withholding, and offers practical guidance families can use. Read the full Q&A on NJMoneyHelp.com.
Latest Insights Article
IRS Announces Federal Tax Due Date Extension
The Federal tax filing and payment deadline has been extended. But some dates remain the same. Here’s what you need to know about this tax season.
American Rescue Plan Act of 2021
A third stimulus bill has been signed into law. It provides assistance through stimulus checks, expanded unemployment benefits, and more.
New Rules for Deducting Charitable Donations
The rules around deducting charitable donations keeps changing. Here’s what you need to know now.
Deciphering the Many Medicare Plan Options
When it comes time to evaluate the seemingly infinite number of Medicare Plan options, your head may spin. We shed some light on the options.
How Will the New Administration Impact Financial Planning?
The new Administration is sure to make changes that will impact financial planning. Here are our thoughts on what’s to come.
Permanent Life Insurance is Again a Crucial Part of Wealth Protection
Permanent life insurance is an important part of wealth protection planning. Learn how your policy can impact your retirement planning and more.
Tax Season Has Begun. What Does it Mean to You?
You may think filing your taxes on the first day of tax season is a good plan. But here’s what you need to know before filing your tax return.
How to Correctly Report Taxable Distributions from Retirement Accounts
RMDs were suspended in 2020, but if you took the withdrawal and rolled it back, read this before preparing your tax return.
Financial Aid Changes on the Horizon
If you’re paying for, or planning to pay for, college, be aware of these financial aid changes for 2021 and beyond.
Required Minimum Distributions for 2021
Required minimum distributions are once again mandatory in 2021. But there are new rules to be aware of if you haven’t had to take RMDs in the past.
Resolve to be Prepared for the Unexpected
Many were caught financially unprepared in 2020. Here are some tips to help you better prepare for your future.
How to Get Creative If Debt is Out of Control
It’s easier than you think to fall into debt. Here are some options to help you get your debt under control – before it’s too late.