Most Common Areas for Tax Beaks

Tax law changes so frequently that you must be concerned with tax planning year-round, or you’ll miss opportunities to lower your tax bill. Here are some common areas that can mean big money savings with proper planning. 1. Familiarize yourself with the income levels at which various tax breaks phase out. While it doesn’t make […]

Nine Basic Rules of Building a Nest Egg

Building a nest egg to give you a secure financial future doesn’t require a degree in economics, just a degree of common sense. The rules are easy and time-tested, and the smart players always abide by them. 1. It’s never too late or too early to start. Think back five or ten years and say […]

Know the Deduction Rules for Donating Vehicles to Charity

If you donate a used vehicle to charity, you are allowed to take a tax deduction for your generosity, but only if you itemize deductions on your tax return. Here’s the current rule governing donated vehicles. Tax law: The charity must inform the taxpayer of the price the donated vehicle sold for at auction. This […]

2018 Executive of the Year

We are delighted to announce that our own L. Scott Elwell has been recognized as a “2018 Executive of the Year” by South Jersey Biz. Scott has been ranked one of twenty-two leaders who excel in shaping the future of business in South Jersey. This achievement is such an honor and our team couldn’t be […]

Have you thought about these year-end investment moves?

As the end of the year approaches, take a closer look at your investment portfolio. There may be some tax-saving strategies worth considering. Check out the following areas: Wash sales. Thinking of selling a security before Dec. 31 to take advantage of a capital loss?To make sure the loss is deductible, refrain from buying a […]

Minimize Your Tax Bill with Your Charitable Work

If you do volunteer work for a charitable organization and have not kept track of your out-of-pocket expenses, you might be passing up an excellent opportunity to lower your tax bill. How to get a tax break To qualify, your unreimbursed expenses must relate directly to the charity, and you must itemize your deductions on […]

Business Owners: Do You Have a Succession Plan?

Succession planning is very important for business owners, especially those with a family-owned business. Before you sit down with your tax and legal advisors to draw up a succession plan, you should think through three important issues: Who: The question of who will succeed you in the business can be the toughest of all. Most […]

Kick Your Record Keeping Skills Into High Gear

Tax law change can be good — but it can also be messy. Make sure you’re keeping track of everything you need for the 2018 tax season (and beyond) using these pro-approved tips: 1. Create a separate bank account for all self-employed business activity. This will greatly minimize confusion come tax time by giving you […]

Make sure you’ve got a plan for your RMDs

After all the advice you’ve received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach 70½, the required minimum distribution (RMD) rules say you have to do just that. Under these rules, you must withdraw at least a minimum amount from […]