Northfield NJ CPA – Tax, Accounting & Consulting Services (609) 641-4000  | 

Is Relief for Student Loan Debt in Your Future?

Is Relief for Student Loan Debt in Your Future?

President Joe Biden said August 24 that his administration plans to forgive up to $10,000 in federal student loan debt for anyone who makes less than $125,000 a year. People who went to college on Pell grants, which are reserved for undergraduates with the most...
Big, Big News from the IRS on August 24

Big, Big News from the IRS on August 24

In an effort to free up resources to address a huge backlog of returns to process and other pending issues, the IRS announced major relief for most taxpayers with certain failure to file penalties and International Information return penalties for tax returns for the...
Roth IRA Conversion

Roth IRA Conversion

During the pandemic, the value of many traditional IRAs dropped with the decline in the stock markets, so it may be time to consider a Roth IRA conversion. Lower income in the conversion year could also be a factor in this decision, since the conversion amount could...
Highlights of The Inflation Reduction Act of 2022

Highlights of The Inflation Reduction Act of 2022

President Biden signed this bill into law on August 16.  Here are some of the more interesting provisions.  For more information about any of these items, please contact us. Revenue Provisions Corporate Alternative Minimum tax of 15% which applies only to large...
Charitable Donations and the Benefits for Donors

Charitable Donations and the Benefits for Donors

Charitable donations are not only beneficial for recipients, charitable donations benefit the ones donating as well. Mindful structuring of contributions can have tax advantages for the donor. There are a few ways to realize those advantages.  Some are: gifts of...