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

Relief from Losses from Hurricane Ian

Relief from Losses from Hurricane Ian

Many local taxpayers own homes and other property in the areas impacted by Hurricane Ian.  In the wake of Hurricane Ian, the states of Florida, South Carolina, and North Carolina have been declared federal disaster areas.  Individuals who have property that was...
Renting Your Home or Vacation Property

Renting Your Home or Vacation Property

Many of our clients own and rent out homes they do not use full time as a residence, and even more are considering it based on the enticements of companies like Airbnb.  Renting a property you use personally is somewhat different from renting a property that you do...
Federal and State Energy Credits

Federal and State Energy Credits

As climate change has become more of a political issue, the federal and state governments are actively incentivizing taxpayers to “go green”.  The Inflation Reduction Act recently passed by Congress made significant changes to the credits already offered by the...
Like-kind Exchanges – IRC Section 1031

Like-kind Exchanges – IRC Section 1031

A 1031 exchange, named after section 1031 of the U.S. Internal Revenue Code, is a way to postpone capital gains tax on the sale of a business or investment property by using the proceeds to buy a similar property.  It is also sometimes referred to as a “like-kind”...
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...