Financial planning is an important tool to determine one’s current financial situation and discover how to achieve short- and long-term goals. With proper financial planning, you can wisely manage your finances and ensure you make the most out of your tax efficient strategies.
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For real estate investors to be successful, they must never overlook the importance of keeping an accurate record of their daily financial transactions. To ensure the numbers are correct, enlisting the help of a trustworthy and reliable public accounting firm to handle their real estate business’s bookkeeping needs is vital.
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Are you a business owner in New Jersey spending too much time on your books instead of your main service offerings? To ensure your time is well spent, outsourcing your accounting needs may be the right solution for you.
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With more people working remotely, many have turned their homes into an office. This has left U.S. workers left with questions as to whether they qualify for a federal home office tax deduction. Let’s look at what you need to know about a home office tax deduction.
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As your parent grows older and you begin to pay more than half of their household expenses, you have the option to claim the individual as an elderly dependent. As a result, you’ll be provided with additional tax breaks.
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New Jersey residents that filed a 2020 resident income tax return with a tax balance due of $1 or more may be eligible to receive the “Middle Class Tax Rebate” beginning July 2, 2021. The rebate will be calculated automatically for eligible taxpayers when they file their 2020 NJ-1040.
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Attending college is an exciting period in many students lives. From learning new subjects, meeting new friends, joining clubs, and studying abroad, the perks of college are endless. However, despite the countless hours studying and having fun, students need to be aware of their tuition bill and how to wisely manage it. Here are 5 tips on managing student debt.
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Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the IRS will pay half the credit in the form of advance monthly payments beginning July 15. Taxpayers will then claim the other half when they file their 2021 income tax return.
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As a business owner, staying on top of your tax obligations is one of the most important items to do. However, with the complexity of the U.S. tax code and new tax laws and regulations coming into effect each year, keeping up with the legal tax language can be a challenge.
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Whether accounting is your forte or not, it’s one of the most important areas to handle early and accurately. To help you kick off this new world of accounting for startups, Tobin & Collins is answering some of the most common accounting questions, so you’ll be well-positioned to avoid mistakes made by other startup companies.
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For businesses small and large, the importance and impact of proper accounting processes cannot be overstated. If you have an excellent service or a product that’s flying off the shelves, failing to track the money coming in and out can completely undercut any success you may be enjoying. Accounting practices allow you to gauge the health of your business, track important trends, and...
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Renting your vacation home out in New Jersey can provide many benefits, such as supplementing your regular income. But if you do choose to collect income from renting out your vacation home, you mustn’t forget about the tax impact when you file your annual taxes.
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