• New Jersey real estate tax update

    NJ real estate taxes are among the highest in the nation, and our local South Jersey neighborhoods hold some notorious statistical distinctions in real estate tax levels that I’ve written about in the past. This year the Anchor program replaces the NJ Homestead Benefit program. The new program is significantly different from the old tax relief program. The number of New Jerseyans now eligible for the new Anchor program is three times the number that were eligible for the Homestead Benefit. Although the application process is presumably designed to be straightforward, I already see at least one or two possibly

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  • Simple NJ estate settlement

    If you have the responsibility to settle a small NJ estate of a deceased relative or close relationship, the odds are that you haven’t performed this task before. The process can be baffling. While leaning on the professional help from an experienced CPA is an ideal solution, not everyone can afford the cost of this help. In this case, it might be necessary to do it yourself. This article is intended to list the basic steps for administering a simple estate in New Jersey assuming that there is no real estate involved and no complications with heirs of creditors. Follow

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  • Pricing of tax services

    In most cases the cost of tax return preparation and filing is included in the regular negotiated fees bundled with other services. However, sometimes tax services are offered outside of a regular service agreement. This list is meant to provide an estimate of individual tax return pricing. Pricing for businesses, estates, and nonprofit organizations are estimated individually. This rate schedule applies at the time is it published, not for future time periods. Extension $80Form 1040 individual tax return series $480Form 1041 estate tax return $480Power of Attorney $480Form 1099-R $55 per accountForm W2 $55 per employerSchedule A $240+Schedule C $120-$480

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  • Letter to a young Enrolled Agent on the topic of tax fraud

    I wrote this comment to an enrolled agent struggling with a client committing tax fraud who described herself as naïve about the human behavior behind it. “XXXXXXX, this is a general comment and not in any way meant as a negative personal thing. I would suspect that anyone putting the massive time and effort to earn an Enrolled Agent designation would have plenty of time to think about taxes and their role in society, the range psychological positions, and how we wish to conduct our own lives and tax businesses. Yes, tax fraud is rampant. It always has been and

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  • Top 8 tax myths

    Top 8 tax myths 2022: Paying taxes is voluntary. Students don’t need to pay taxes. If I can’t pay my taxes I could go to prison. An LLC helps convert personal expenses to business expenses. Estate tax isn’t a big deal and doesn’t affect many people. I don’t have to report income if I did not receive a Form 1099. American companies pay a high rate of tax compared to other countries. Cryptocurrency transactions don’t need to be reported.

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