On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, the first significant piece of legislation...
Tax Planning
New Rules for Deducting Charitable Donations
The amount of income tax you pay comes down to a relatively simple formula: add up all your taxable income and subtract the greater...
Tax Season Has Begun. What Does it Mean to You?
This Friday, February 12, is the official start date of tax season. While not nearly as exciting as the recently concluded football...
How to Correctly Report Taxable Distributions from Retirement Accounts
Form 1099-R is the Form that reports the distributions taken from retirement plans during a given calendar year. Custodians, such as...
Stimulus Package Update
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021. The law combines two initiatives....
Year-end Tax Moves Aren’t Just for the Wealthy. These Strategies Can Help Lower Your Bill.
This article originally appeared on cnbc.com and quotes EKS Associates senior wealth advisor, Howard Hook. We are sharing the article...
Reducing Income Taxes in Retirement
Everyone wants to make their money last longer once they retire. Earn more and spend less are two ways people think this can be done....
Required Minimum Distribution (RMD) Changes in 2020
For many people, December is the month where you satisfy your required minimum distribution (RMD) from your retirement account for...
Updates to NJ’s Property Tax Reimbursement Program (Senior Freeze)
Did you know the State of New Jersey offers a property tax reimbursement to eligible senior citizens and disabled homeowners?...
Mutual Fund Investors Could Face Unpleasant Surprise
History is still being written about the pandemic and its fallout, but whatever happens in the next few months, 2020 will go down as...
How Do I Handle This Retirement Income on My Taxes?
The Question: I have $21,105 taxable interest income before taking personal exemptions and $3,862 in pension income. I’m 72 and...
Tax Alert: NJ/NY Estimated Tax Payments Due on June 15, 2020
On March 21, the Treasury Department directed the IRS to postpone the tax filing deadline from April 15 to July 15. Included in the...