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Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of federal tax you will pay. Since most of the changes will go into effect next year, there’s still a …

During the holidays, many people make donations to help those in need. It’s also the last chance in the calendar year to qualify for tax deductions on charitable gifts, adding a sense of urgency to the philanthropy. While any and all charitable giving helps humanity move forward, there are a few best practices to ensure …

Tax season is almost here and if you are a veteran, you should be aware of a new NJ Income Tax exemption for the 2017 tax year. Military veterans are eligible for a $3,000 exemption on their NJ Income Tax return if by the last day of the tax year: You were honorably discharged; or …

This article highlights and explains the key, but somewhat complex, federal income tax rules associated with rentals of residences and vacation homes. The rules discussed include the definition of what constitutes a residence or dwelling, how personal use of the residence by the taxpayer affects the tax treatment, what expenses are deductible against rental income, …