Category: Timely Articles


Wedding Bells: Tax Issues to Consider Before Tying the Knot

Marriage changes life in many ways. Here’s how it may affect your tax situation.

Marital Status

Your marital status at year end determines your tax filing options for the entire year. If you’re married on December 31, you’ll have two federal income … Read More »

September 12th

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When Can You Purge Your Old Financial Records

Feeling the urge to purge? Before you clear your filing cabinets of old financial records, it’s important to make sure you won’t be caught empty-handed if an IRS auditor contacts you.

For Individuals

In general, you must keep records that support items … Read More »


Sales vs. Use Tax Article Published in Rapaport Magazine

Robert Hoberman was quoted in the article, “Sales vs. Use Tax”, which was published in the July 2017 issue of Rapaport Magazine. You can download or read the article here.

 


Update on Home Mortgage Interest Deductions

If you own a home with a mortgage, you should have received an IRS form from your lender each year with information that is used to claim an itemized deduction for qualified residence interest. For 2016, that form included additional … Read More »


Financial Survival Tips for Recent College Graduates

Graduation can be one of the most exciting — and intimidating — times in your life. You’re officially an adult, and with that new-found independence comes financial responsibilities. No pressure, but the decisions you make today about spending and saving … Read More »


Establishing Residency for State Tax Purposes

Have you been contemplating moving to another state with lower taxes? Your move could lower your state tax bill, but you want to make sure to establish that the new state is your place of legal residency (also known as … Read More »


Important Tax Figures for 2017

The following table provides some important federal tax information for 2017 as compared with 2016. Many of the dollar amounts are unchanged or have changed only slightly due to low inflation. Other amounts are changing due to legislation.

Social Security/ Medicare
2017 … Read More »


Driver License Requirement for Tax Year 2016

Beginning with Tax Year 2016, the taxpayer’s driver license or state identification information is now required for New York State (and certain other states) personal income tax returns that are prepared using software. The requirement, which is considered an additional … Read More »


Sales and Use Tax Update for New Jersey

The New Jersey Division of Taxation reminds taxpayers regarding previously enacted legislation that reduces the sales and use tax rate from 7% to 6.875% on and after January 1, 2017, and further reduces the rate to 6.625% … Read More »


Three Taxes People Love to Hate

Few people enjoy giving money to the IRS, but some types of taxes are viewed more unfavorably than others. Here are three worthy candidates vying for the title of most-hated tax.

Penalty Tax on Individuals without Health Insurance

As you probably know, … Read More »

November 21st

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