News & Helpful Information

ow that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be able to defray qualified expenses they paid in 2019 when they file their tax return in 2020.

Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year.

A taxpayer’s adjusted gross income is one factor that determines how much tax they owe. Taxpayers who plan today can lower their AGI. These tips focus on steps taxpayers can take now to help them down the road.

Tax planning should happen all year long, not just when someone is filing their tax return. An important part of tax planning is recordkeeping.

Members of the armed forces don’t have to pay taxes on some types of income. Special rules could lower the tax they owe or allow them more time to file and pay their federal taxes.

As tax filing season approaches, the Internal Revenue Service has information for taxpayers who wonder how long to keep tax returns and other documents.

If you have any questions about how this pertains to you or your business please do not hesitate to give our office a call 1-856-823-0420.

Everyone should check their withholding by doing a Paycheck Checkup ASAP, even if they did one in 2018. The federal income tax is a pay-as-you-go tax. This means that taxpayers pay the tax as they earn or receive income during the year. This also means...

The right to appeal an IRS decision in an independent forum is one of 10 basic rights known collectively as the Taxpayer Bill of Rights. 

Businesses should know the tax rules for deducting depreciation on certain property. This deduction can benefit eligible business taxpayers. The Tax Cuts and Jobs Act made changes to the rules around depreciation that will affect many businesses.