Friday, January 17, 2020

Beginning on Jan. 8, field offices are remaining open until 4 p.m. on Wednesdays, with typical field office hours from 9 a.m. until 4 p.m., Monday through Friday. You can locate the closest fi…

Monday, January 13, 2020

First and foremost, I want to wish all my readers a happy and peaceful New Year. Your e-mails and calls are appreciated.

Two New Jersey Teachers report the same salary history. The first year they earned $30,000 with annual increases of 3 percent. 10 percent of their salary was contributed to their 403(b) accoun…

Monday, January 06, 2020

Taxes are complicated, so it’s no wonder that everyone makes mistakes from time to time. But some actions go beyond incorrect arithmetic or thinking something is deductible when it’s not.

Monday, December 30, 2019

Many people pick up side jobs when the holiday shopping season comes around. It's a good way to make some extra income during the busy season or to ease back into work if you have been out of …

Monday, December 23, 2019

Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and…

Monday, December 16, 2019

As the end of the year approaches, the IRS encourages taxpayers to consider a tax-withholding check-up. When taxpayers take a close look to make sure that the right tax amount is withheld now,…

Monday, December 09, 2019

Social Security cares about accuracy and we want you to get the exact benefit amount you deserve. Changes in the law affect how we calculate monthly Medicare Part B (medical insurance) and Med…

A smart way to approach tax planning would be to look ahead, not back. Run through this list of tax-saving ideas to make sure you’re taking advantage of all the available opportunities to redu…

Monday, December 02, 2019

What is the best tax break available to John and Jane Taxpayer? If they’re homeowners, it’s selling their home. When you sell your primary residence, you can make up to $250,000 in profits if …

Age 59.5 is a milestone in one’s life because it’s the age when withdrawals of pre-tax Defined Contribution (DC) assets are no longer subject to the 10-percent Federal penalty tax. This rule a…

Monday, November 25, 2019

Buying a home is the single-most-valuable investment most families make, and home ownership offers income-tax breaks that make it a foundation for overall tax planning. The tax law provides nu…

Each year, we announce the annual cost-of-living adjustment (COLA). By law, Federal benefits increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Ind…

Monday, November 18, 2019

All parents are familiar with the high cost of raising children. But did you know that your children may help you to qualify for some income-tax benefits? Here are some tax benefits the IRS wa…

Friday, November 08, 2019

The Earned Income Tax Credit (EITC) is a financial boost for workers earning $55,592 or less a year. The IRS estimates that each year one in five eligible Americans misses out on money the gov…

Monday, November 04, 2019

Do you rent property to others? Rental real estate provides more tax benefits than almost any other investment. Besides the potential for an ongoing income and capital appreciation, such inves…