Personal Finance
Retirement Account Tax Inflation Adjustments for Year 2023
The IRS announced the 2023 inflation-adjusted dollar-amount ceilings and thresholds for a wide range of qualified retirement plans and accounts, including traditional individual retirement arrangements…
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Qualified Appraisal Required to Deduct Charitable Contribution of Cryptocurrency
Earlier this month, the Internal Revenue Service (IRS) released a memorandum (CCA 202302012) concluding that a qualified appraisal is required when a taxpayer claims a charitable contribution deduction…
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Blog: The Top 5 Reasons You Should Be Using Tax Caddy
TaxCaddy is a software program designed to make gathering tax documents and sharing them with your tax professional a breeze. But why take our word for it? Here are the top 5 reasons YOU should be using…
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Using Electronic Funds to Avoid Check Processing Delays for Payment of Income Taxes
Delays by the IRS and State Revenue Departments in processing checks from taxpayers for the payment of income taxes is increasing. Delays in the processing of checks can cause automated tax notices requesting…
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IRS extends Tax Relief to the Victims of Hurricane Ian
The IRS has extended tax relief to the victims of Hurricane Ian throughout Florida until February 15, 2023, to file various individual and business tax returns and make tax payments. Individuals and households…
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ANCHOR Replaces the Homestead Rebate, Makes Owners/Renters Eligible for Relief
ANCHOR provides property tax relief to New Jersey residents who owned or rented their principal residence (main home) on October 1, 2019, and met the income limits. The filing deadline for the ANCHOR Application…
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Official Updates on the One Time Student Debt Relief
On Aug. 24, 2022, the Biden-Harris Administration announced a Student Debt Relief Plan that includes one-time student loan debt relief targeted to low- and middle-income families. The plan will cancel…
Continue ReadingWarning of IRS Impersonation Scams
The Treasury Inspector General for Tax Administration is raising the alarm about identity thieves and fraudsters, releasing a pair of public service announcements to educate taxpayers about the continuing…
Continue ReadingNew Jersey Deductions for Higher Education
Beginning in 2022, the New Jersey College Affordability Act allows New Jersey taxpayers tax deductions for certain educational expenses. The deductions are targeted for taxpayers with gross income of $200…
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Protect Your Financial Information
The combination of the holiday shopping season, the upcoming tax season, and the pandemic create additional opportunities for criminals to steal sensitive personal or finance information. To help taxpayers…
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