Accountant in Toms River - CPA

This month:July 4: Independence DayJuly 31:Quarterly federal excise tax returns (Form 720) dueEmployer quarterly federal tax returns (Form 941) dueCalendar-year employee retirement and benefit plan returns (5500 series) dueIt's the height of summer, and hopefully you've had a chance to enjoy some pleasant weather and Fourth of July fireworks. This issue contains tips on tax breaks for new parents, deciding whether to amend a tax return, strategies for reducing debt, and budgeting for rep...  Read More...

June 2018 Tax filing remindersJune 15 – The second installment of 2018 individual estimated tax is due. It’s tax-planning timeNow is the ideal time to schedule a tax-planning session. Your tax return outcome is still fresh, and it’s early enough in the year to make corrective action to take advantage of the numerous new tax law changes taking place in 2018. Here’s a brief overview of some of the new tax issues that you need to plan for now.#1 IncomeTax rate...  Read More...

MAY 2018Update on the Tax Cuts and Jobs Act (TCJA)The Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers to some of the most common questions:Is home equity interest still deductible?The short answer is: Not unless you’ve used the money to buy, build or substantially improve your home.Before the TCJA, homeowners were a...  Read More...

APRIL 2018 Tax filing remindersApril 17 – Individual income tax returns for 2017 are due.2017 calendar-year C corporation income tax returns are due.2017 annual gift tax returns are due.Deadline for making 2017 IRA contributions.First installment of 2018 individual estimated tax is due.When an extension makes senseWhile most people should file a tax return by April 17, you have the option of delaying your filing date until Oct. 15 with a tax extension.When to file an extensionMis...  Read More...

MARCH 2018 Tax filing remindersMarch 1 – Farmers and fishermen who did not make 2017 estimated tax payments must file 2017 tax returns and pay taxes in full.March 2 – Automatic extension deadline for employers and health care providers to provide Forms 1095-B and 1095-C to individuals.March 15 –2017 calendar-year S corporation income tax returns are due.2017 partnership returns are due.Deadline for calendar-year corporations to elect S corporation status for 2018.Alert: Ex...  Read More...