Monthly Archives: October 2013

2014 Tax Season to Start Later Following Government Closure

The Internal Revenue Service has announced  a delay of approximately one to two weeks to the start of the 2014 filing season to allow adequate time to program and test tax processing systems following the 16-day federal government closure. Our Bergen County CPA office offers you insight to this. The IRS is exploring options to shorten the expected delay and… (more…)

Its a Good Idea to Know the Consequences of Borrowing from Your 401(K) Plan

Borrowing from your 401(k) can lead to tax surprises. Here are some tips to keep in mind if you are considering this option.  Our Bergen County CPA office offers you insight to this. When you borrow from your 401(k), you become both a borrower and a lender. Whether that’s a good idea depends on your personal financial situation – and… (more…)

Factor New Limits on Deductions Into Your Tax Planning

    As you begin your year-end tax planning review, keep in mind the return of the limitation on itemized deductions and personal exemptions for higher-income taxpayers. Our Bergen County CPA office offers you insight to this. When you’re married filing jointly and your adjusted gross income is more than $300,000, the amount you can claim for these two items… (more…)