Monthly Archives: July 2013

Prepare for Hurricanes, Natural Disasters by Safeguarding Tax Records

  With the start of this year’s hurricane season, the Internal Revenue Service encourages individuals and businesses to safeguard themselves against natural disasters by taking a few simple steps. Our Bergen County CPA office offers insight to this. It’s important to maintain a good system of record storage. And if you live in an area prone to environmental disasters such… (more…)

IRS Announces 2014 HSA Contribution Limits

The IRS recently announced the inflation-adjusted contribution limits for health savings accounts (HSAs) for 2014. Our Bergen County CPA office offers you insight to this. HSA’s allow taxpayers with high-deductible health insurance plans to set aside pretax dollars that can be withdrawn tax-free to pay unreimbursed medical expenses. The 2014 contribution limit for individuals is $3,300; the limit for family coverage… (more…)

Have a Financial Talk With Elderly Parents

  One day you may find yourself taking care of an elderly parent who is in declining physical or mental health. This can be stressful, both emotionally and financially. On the financial side, there are steps you can take to prepare for this situation. Talk to your parents about their financial affairs. Parents may be reluctant to discuss their finances,… (more…)

People Affected By Boston Marathon Explosions Have Until July 15 To File And Pay; Additional Extension Available

The Internal Revenue Service today reminded Boston area taxpayers and others affected by the April 15 Boston Marathon explosions that their individual income tax returns and tax payments are due Monday, July 15.  Our Bergen County CPA office offers you insight to this.         This relief applies to all individual taxpayers who live in Suffolk County, Mass., including the city… (more…)

Supreme Court Strikes Down DOMA

  In a 5 to 4 decision, the United States Supreme Court has found that Section 3 of the federal Defense of Marriage Act (DOMA) violates the equal protection clause of the Fifth Amendment of the U.S. Constitution as applied to persons of the same sex who are legally married under the laws of their state (Windsor, S.Ct., June 26,… (more…)