For many people, December is the month where you satisfy your required minimum distribution (RMD) from your retirement account for...
Tax Planning
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...
New Jersey Extends Tax Filing and Payment Deadlines
New Jersey has extended the State income tax filing deadline and the corporate business tax filing deadline from April 15 to July 15,...
New York State Extends Tax Filing and Payment Deadlines
New York State has extended the April 15, 2020 due date for filing personal income tax and corporate tax returns. This extension...
The CARES Act and You
On Friday, March 28, President Trump signed the CARES Act into law. The CARES Act is an economic stimulus package designed to help...
Federal Filing Date Extended (Tax Alert Update)
On Saturday March 21, the Treasury Department and IRS extended the due date for filing Federal income tax returns for ALL taxpayers....
IRS Provides Some Tax Relief
On March 18, the Internal Revenue Service issued Notice 2020-17, Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019...
How to Properly Report Qualified Charitable Distributions on Your Form 1040
A popular tax strategy for individuals over 70 ½ years of age who wish to give money to charity is to make a distribution to the...
SECURE Act Law Could be Boon for Charities
The recently passed SECURE Act has made several changes to retirement plans, some of which could result in an increase in the amount...