Monthly Archives: March 2014

Health Insurance Tax Credits are Good Medicine for Small Businesses

Small businesses may be missing out on an important new tax perk related to health insurance. And the stakes are even higher in 2014. Our Bergen County CPA office offers you insight to this. The Affordable Care Act provides a tax incentive for small business owners who pay at least a portion of their employees’ health insurance. This year as… (more…)

Take a Different Route to a Roth IRA

If your income exceeds certain levels, you cannot make contributions to a Roth IRA. Our Bergen County CPA office offers you insight to this. However, you can convert a traditional IRA to a Roth IRA no matter how high your income. Roth IRAs are popular because qualifying distributions are tax-free and annual distributions are not required at age 70½. A… (more…)

Take Your Choice for Deducting Home Office Expenses

You now have a choice in how you deduct the expense of a home office.  Our Bergen County CPA office offers you insight to this. Starting with your 2013 tax return, you can either deduct the actual expenses connected with your home office, or you can use the simplified method of deducting $5 per square foot of the part of… (more…)

IRS Alerts Taxpayers to Latest Tax Scam

The IRS has issued a warning about the latest phone scam. The caller claims to be from the IRS and tells the intended victims they owe taxes which must be paid immediately with a pre-paid debit card or wire transfer. Individuals who don’t pay up are threatened with arrest or loss of their business or driver’s license. Watch for these… (more…)