Tax Memo – Early Withdrawals from Retirement Plans
Many people find it necessary to take out money early from their IRA or retirement plan. Doing so, however, can trigger an additional tax on top of income tax [...]
Memo – Trump Tax Plan Update #1
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 [...]
Memo – Disability Income Planning – Vital For Your Family
Many people don’t realize the risk of becoming disabled as the result of an illness or injury at some point in their lives – or how it can affect their ability [...]
Tax Memo – Extensions DO NOT Postpone Paying Your Taxes Due on April 15th
It is a common misconception that getting an extension of time to file your tax returns, form 4868, also extends the time that any taxes you owe are also due. [...]
Tax Memo – IRS Refund Myths Debunked & Where’s Your Refund?
I want to remind you about some basic tips to keep in mind about your refunds. During the early parts of the tax season, early filers are anxious to get [...]
Tax Procrastinators! Yes You! April 15th Is Quickly Approaching!
If you have a history of tax filing procrastination, call me immediately for CPA Therapy Sessions. The IRS got more than 131 million tax returns last month. Was yours [...]
Tax Memo – Debt Cancellation May be Taxable
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 [...]
Memo – Real Estate Agents – Trump’s Tax Plan Is Great For You
Take a good look at this man. Trust him? Maybe not.. But I do know..... Real Estate Agents - Trump means larger home sales for you! Realtors should be considering the tax [...]
Interview – Trump Tax Planning with Chris Whalen, CPA
Click here to request a consultation or ask me a question. Please reach out to me without hesitation with any tax, business or accounting question, and to [...]
Tax Memo – Dangerous W-2 Phishing Scam Evolving
URGENT ALERT! Please forward this email, after reading it yourself of course, to your employer's Human Resources Department. Chris Whalen, CPA is issuing an urgent alert to all employers that the [...]
Memo – Special Needs Child Approaching 18?
If you have a special needs child approaching the age of 18, I strongly urge you to call me so I can put you in touch with an attorney [...]
Tax Memo – Is Your Gift Taxable?
If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are [...]
Mortgage Memo – FHA To Cut Mortgage Insurance Premiums
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. [...]
Tax Memo – Earned Income Tax Credit – Avoid These Common Errors!
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 [...]
Tax Memo – Tax Tips for Newlyweds
Before the memo begins, please read this important message. President Elect Trump is planning a major Tax Overhaul in 2017! Now is the time for YOU to plan, NOT after the [...]
Crazy But Legal Income Tax Deductions – CPA Monmouth
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 [...]
Tax Memo – Year End Tax Tips! Trump is Coming!
Note From Chris Whalen, CPA: This memo relates to 2016 so it is slightly outdated. Please call me directly to discuss current rates and income tax strategies. 732-673-0510. 2016 [...]
Tax Memo – Students Beware! – New Scam Is Targeting You!
The Internal Revenue Service issued a new warning to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax that they call the “federal student tax.” [...]
Tax Memo – 2017 Pension Plan / IRA / 401K Limitations
Highlights of changes for 2017 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017. The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), [...]
Post 2016 Election Roundtable with Chris Whalen, CPA
Join Chris Whalen, CPA and Ted Hicks as they discuss how the election of Donald Trump may impact the future our families, businesses and country. Please reach out to me [...]
Memo – Underground Storage Tank? Don’t Panic, You Might be Covered
Old storage tanks can present significant and complex problems. Discovering a leaking underground storage tank can be nightmare for property owners, particularly in New Jersey. New Jersey requires disclosure of [...]
Tax Memo – Tax Benefits Increasing in 2017
The IRS has announced the tax year 2017 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax changes. The tax year 2017 [...]
Memo – In A 401K? Check Your Fees TODAY
Information in this Memo: Why consider fees? What are 401(k) plan fees and who pays for them? What fees are associated with my investment choices in a 401(k) plan? [...]
Tax Memo – FBAR – Things You Need to Know
Do you have any money or assets outside the U.S.? Seems like a pretty straightforward question, doesn’t it? Well, a lot of people are surprised to learn that they do [...]
Tax Memo – FAQ on Capital Gains, Losses and Sale of Home
My Top FAQs for Capital Gains, Losses, and Sale of Home What is the basis of property received as a gift? If I sell my home and use the money [...]
Tax Memo – 2017 IRS Refunds Will Be Delayed – Plan Now
I am encouraging my clients to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. Taking a closer look at the taxes being withheld [...]
Tax Memo – Afraid To File Your Taxes? Don’t Be!
Please read and share this informative memo. Click Here To Read The Memo Please reach out to me without hesitation with any tax, business or accounting question, and to schedule [...]
Tax Memo – What Medical Expenses Can You Deduct?
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 [...]
Tax Memo – Rollovers from IRAs and Pension Plans – Timing is Everything
The IRS Has Eased Rules on the timing of IRA and Pension Rollovers The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions [...]
Tax Memo – Do You Have Qualifying Health Care Coverage?
The individual shared responsibility provision requires you and each member of your family to have basic health coverage – also known as minimum essential coverage – qualify for a health [...]