“Thank you for asking about my services this year! I had the exciting opportunity a few months ago to start a brand new CPA firm in New Jersey. It was quite an undertaking but now have a new address, new licenses and new staff. We are motivated by this new unfettered ability to make real […]
Many cyber currency owners believe that if they didn’t receive any cash then there is no tax due now. IRS disagrees and will let them know! Even a “fork” in your cyser currency now triggers immediate tax under current IRS rules. Owing tax without receiving any real benefit strikes many as unfair and the Virtual […]
Avoiding the usual scams: Tax-related scams this year have risen to a level I’ve not experienced before in more than 4 decades of practice. Tax preparers are among the most targeted group. The defenses tend to require low tech personal attention. EMAIL – We observe that most (I read 85%) of scams begin with email. […]
Taxes are perceived differently by each individual even though the overall set of chaotic rules is the same for all of us. Yet when it comes to dealing with that chaos in a manner that leads to peace and prosperity, the process always involves the same three steps: Resolve past problems. Old issues don’t go […]
Tax refund loans were always a bad idea but this year appears to be worse. Some companies stepped up their advertising this year with claims of large loan approval amounts. But now some tax preparers who use these services report that the majority of cases they submit are approved for only $500 refund even if […]
Many people here don’t know that New Jersey has a Use Tax. Use Tax is owed by New Jersey residents and businesses that buy products out of state, online, or via the mail, and then bring the products to New Jersey or have them shipped here. The Use Tax is the same 6.625% as the […]
CPA tax preparation services completed the easy, affordable and efficient way! This post covers: Why use a CPA Timing Pricing Communication How to Get started Certified Public Accountants in private practice, like me, offer a high level of service for the preparation and filing of annual income tax returns. We handle a small number of […]
Most of us file taxes electronically without any need for paper forms. However, paper forms are allowed in most cases and may be useful. Here are three downloadable and printable IRS forms from cpapracticeadvisor that may be useful now: 2019 Form 1040 for individual income tax filing 2019 Form W2 for reporting wages paid 2020 […]
Today New Jersey Governor Phil Murphy signed into law the Pass-Through Business Alternative Income Tax Act. This new law allows flow-through businesses in New Jersey to elect to pay income taxes at the entity level instead of at the personal income tax level. Since there is no limit on deductions on the federal level for […]
The most common question I get this time of year is “Hey Tony, I was wondering how much you charge to do taxes? I usually use TurboTax but …”. In the ‘old days’ at my former firm I used to just politely decline these requests without offering explanation. But over time I realized that I’m […]