Still Not Filed Your 2016 Taxes? Time is Running Out! October 15th Is Quickly Approaching!
The last day to file your 2016 tax returns on time is October 15! If you have a history of tax filing procrastination and have not filed your 2016 [...]
Memo – Could Your Employees Benefit From a Custom Tax, Accounting and Business Presentation?
President Trump's election has caused an upheaval on so many levels, and the companies who get their managers and line employees educated will have the edge over their competition. [...]
Memo – Puerto Rico Hurricane Victims Tax Relief
Puerto Rico — Victims of Hurricane Irma that took place beginning on Sept. 5, 2017 in parts of the Commonwealth of Puerto Rico may qualify for tax relief from [...]
Tax Memo – Moving Expenses May Be Deductible
Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the [...]
Memo – Hurricane Victims May Qualify For Hardship Loans and Distributions From Retirement Accounts
RED BANK NJ —The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricanes Harvey and Irma [...]
Memo – Original and Extended Tax Return Due Dates
It is difficult to keep track of when personal and business tax returns are due. This pdf file gives you all the information you need. Click on the link [...]
Tax Memo – Do You Have A Business Or A Hobby?
Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing -- no matter what a person’s [...]
Memo – Medicaid Look Back Period – Plan Now, Not Later
I get so many calls like this: "Chris, if my elderly parent suddenly needs to go into a nursing home, how can I protect their assets?" "Chris, what [...]
Tax Memo – Gambling Winner? Loser? Read These Tax Tips
Chris Whalen, CPA Note: Don't roll the dice with your taxes! The best bet you can make is to choose the best CPA! You must report all gambling winnings as [...]
Memo – Alimony – Paying It? Receiving It? You Need Tax and Financial Planning
My firm specializes in the income tax and financial implications of divorce. If you are in any stage of a divorce, and have not sought the advice of a [...]
Memo – 5 Myths of Long Term Care Insurance
Paying for Long Term Care is something everyone needs to plan for and understand. There is so much misinformation out there about Long Term Care Insurance, I decided to [...]
Tax Memo – Newlywed? Finish that Champagne, Then Read These Important Tax Tips
Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on the list. However, there is [...]
Tax Memo – Seniors and Retirees – This Memo’s For You
My Retiree and Senior client base continues to grow, and with that comes special tax planning needs. There is so much information out there on taxes and from so [...]
Tax Memo – Shared Economy Issues – UBER, AIRBNB & Other Entrepreneurs
Note From Chris Whalen, CPA: This memo includes important information for all entrepreneurs as well as those participating in the Sharing Economy. If you use one of the many [...]
Memo – President Trump’s Report Card, Mid-Year 2017
First, I have to say in my almost 30-year career I have never seen such enthusiasm and positive public sentiment among my entrepreneur clients and overall positive consumer confidence. [...]
Tax Memo – IRS Expands Individual Online Info Available
Chris Whalen, CPA Note: The IRS Online tools can be very frustrating. Most of my clients give me a Power of Attorney so I can do this research for [...]
Tax Memo – Filing Taxes Late? Be Ready for Interest and Penalties
Note from Chris Whalen, CPA - Even if you cannot pay your tax, FILE YOUR TAXES ON TIME. You can always apply for an installment plan. Many taxpayers don't [...]
Veterans’ Tax Memo – Military Family Tax Relief Act – Know Your Veteran Benefits
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 [...]
Memo – Tips to Prepare for Hurricanes, Floods and Other Natural Disasters
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 [...]
Memo – Benefits of Real Estate Investing
This Memo has important information for everyone. Please share this with your networks and contacts. As entrepreneurs find success with their primary business ventures, and employees salaries increase, many [...]
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 [...]