Category Archives: Tax Tips

Tax Tips for Tax Season: #6 File Your Business Return on Time

    As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our tax tip below: If your business is a corporation, your 2012 tax filing deadline is generally March 15, 2013. If you need more time, you can file for an extension and… (more…)

Tax Tips for Tax Season: #5 Let the IRS Give You a Credit for Saving

  As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our tax tip below: Depending on your income, you might qualify for a tax credit of up to $1,000 for contributing to an IRA or other retirement plan. Don’t overlook this “saver’s credit”… (more…)

Tax Tips for Tax Season: #4 IRS Sets 2013 Health Savings Account Limits

    As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our tax tip below: The deductible limits for 2013 health savings account (HSA) contributions have been announced by the IRS. The limit for family coverage is $6,450. For individual coverage, the limit… (more…)

When to Start Drawing Social Security is an Important Decision

  Over the coming years, millions of baby boomers will reach age 62, the minimum threshold for receiving social security retirement benefits. If recent history is any indication, most of these people (over 70% by some estimates) will take their benefits as early as possible.  Our Bergen County CPA office offers you insight to this. But whether you should take… (more…)

Tax Tips for Tax Season: #3 Benefit Sooner from Your IRA

As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our third tax tip below: If you did not contribute the 2012 maximum to your IRA by December 31, 2012, and you make any IRA contributions before April 15, 2013, tell your bank or… (more…)

Tax Tips for Tax Season: #2 Contribute to Reduce the National Debt

  As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our second tax tip below: If you want to make a tax-deductible contribution to the Treasury Department to reduce the national debt – now at $16 trillion or so – you need to… (more…)

“Chained CPI”: What’s it all about?

  As the politicians in Washington start once again to tackle the same old problems, you’re likely to hear more about a new way of measuring inflation called the “chained CPI.” Our Bergen County CPA office offers you insight to this. The standard way to measure inflation has been with the consumer price index (CPI). The CPI has been used… (more…)

Tax Tips for Tax Season: #1 IRS Raises Mileage Rates for 2013

  As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our first tax tip below: IRS raises mileage rates for 2013 The IRS has increased the standard mileage rates for computing the deductible costs of operating a car for business or for medical… (more…)

Tax Tips for Job Seekers

    Job seekers may be able to deduct some of the expenses incurred in searching for work. In order to qualify, expenses must be related to search for employment in the taxpayer’s current occupation. Our Bergen County CPA office offers you insight to this. Tips for Job Seekers Following are some tax tips for taxpayers seeking employment: Taxpayers can… (more…)

Count-Down: 2012 Year-End Business Tax Tips 9 & 10

Our year-end countdown continues for the next two of our top ten small business tax-saving tips to consider, while there’s still time in our last of five posts. 9. Make an S Corporation Deemed Dividend: An S corporation that has a significant amount of AE&P but little or no cash or other property to make distributions can make a deemed… (more…)