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Personal Taxes


Republished with permission. If the pandemic completely changed what a day at work looks like for you, you’re not alone. 20 percent of working adults have transitioned to remote work due to COVID-19.1 Adapting to this new workspace isn’t easy, particularly with many companies forced to cut pay in order to preserve non-essential employees. And this[…]

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Filing your individual tax return, no matter how complex or relatively simple, can be very time consuming. Applying for an extension from the Internal Revenue Service is a way to give yourself an additional six months to get all of your paperwork in order. Do keep in mind, however, that if you owe the IRS[…]

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For years, taxpayers, and in particular, wealthy taxpayers, have sought to reduce their tax burden by establishing residency in states with lower tax rates.  Florida is a favorite destination because it has no state income tax. Financial experts warn that the process is more challenging than it appears, however.  While you can have more than[…]

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Although the cost of higher education continues to mount, the tuition and fees deduction for college students and their parents has been eliminated, beginning this year. However, there are other avenues taxpayers can explore to look for deductions and savings. While the tuition deductions are no longer available on your 2019 return (filing for 2018[…]

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How the state of New Jersey and the federal government tax Individual Retirement Accounts can be confusing for many taxpayers. Tax professionals strongly advise people to not only keep track of their personal contributions, but to also keep good records each year, as they receive a statement. For NJ taxpayers, the only amount in your[…]

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