On Nov. 11, 2003, President Bush signed into law the Military Family Tax Relief Act of 2003. Among its provisions are these tax breaks related to military personnel: Death [...]
RED BANK, NJ — Hurricane Preparedness Week is only one 7 days in May, May 7 to 13, but this is far too short in my opinion. Every week should [...]
The following is an analysis of President Trump's proposed tax plan as presented on Wednesday April 26, 2017. Note from Chris Whalen, CPA - The information presented here is [...]
Tax Reform Update: After 2017 Unreimbursed Business Expenses will no longer be deductible along with all other Miscellaneous Itemized Deductions. After you finish read this memo, make sure you [...]
If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who [...]
One Last Cut To FHA Premiums The annual premium paid by borrowers on mortgages backed by the Federal Housing Administration (FHA) is going down by a quarter of a percent. [...]
2017 Standard Mileage Rates for Business, Medical and Moving Announced WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs [...]
Errors can delay your refund or the IRS could end up denying your EITC claim. Watch out for these common errors when claiming EITC. COMMON EITC ERRORS Claiming a child [...]
CPA Monmouth - Crazy But Legal Income Tax Deductions - When tax time rolls around, you may be scrambling to come up with all the income tax deductions you can [...]
I get this question almost everyday. Many people miss out on medical deductions for two reasons: They believe that they will not have enough to reach the minimum based on [...]