CPA Chat

My colleagues Sarah Kim J.D., LL.M. and Ken Maeng, J.D. examine New Jersey’s recently signed fiscal 2021 budget which includes a so-called ‰ÛÏmillionaires tax‰Û and will require immediate action by […]

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and […]

If you are like most people, your life is complicated. There are a lot of moving parts, a lot of puzzle pieces. If you sometimes find it challenging to manage […]

This week’s post is unusual in that it takes us to two very disparate points in time: The first being sometime last week, and the second being the third grade. […]

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much […]

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs […]

In my last post, I alerted you to the fact that the federal gift and estate tax exemptions‰ÛÓ now at a record high of $11.58 million per individual for 2020–would […]

Many science fiction adventures have posited the idea of a parallel universe, but to my knowledge, we have not found intelligent life out there yet. Readers don’t fret. If you […]

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. Working from Home Many employees have […]