Tag: Certified Accountants in New Jersey

Investing Basics: Mutual Funds

Investing Basics: Mutual Funds

When you buy shares of a mutual fund, your money is pooled with other shareholders’ money and invested in a portfolio of securities (stocks, bonds, etc.) An investment in a mutual fund offers you diversification and management by professionals. Mutual funds have no guarantee of good returns or safety of your investment; they go up and down just like the…

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Income the IRS Can’t Touch

Income the IRS Can’t Touch

Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Listed here are a number of income items that the IRS does not tax. Tax-Free Interest. Municipal bond interest is federal tax-free. This includes bonds issued by a state or municipality. The tax-free benefit increases the higher your income, but caution…

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Tax strategies for homeowners

Tax strategies for homeowners

Be aware that important tax consequences are often associated with some fairly common events involving your home. Here are some handy things to know. Home purchase. When purchasing a home, you may pay a portion of the mortgage interest in advance. This loan origination fee, or “points,” is a percentage of the total amount borrowed. If points are paid for…

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Survive Financial Stress with These 3 Mindset Changers

Survive Financial Stress with These 3 Mindset Changers

Because financial stress is a normal part of life for most people, learning to cope with money worries is important — vital, in fact — for maintaining positive relationships, job productivity, and personal health. If you’re dealing with excessive anxiety about your finances, consider implementing the following three policies: Move forward and control what you can. If you’ve been laid off…

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Do You Have Misclassified Workers?

Do You Have Misclassified Workers?

Independent contractor and employee —Do you know the difference between the two classifications? As you prepare your third-quarter 2018 payroll reports, take time to review the status of your workers to help you stay away from misclassification issues down the road. Knowing the difference is crucial Often, figuring out if a worker should be classified as an independent contractor or…

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3 Natural Disaster Prep Tax Tips

3 Natural Disaster Prep Tax Tips

The storms and wildfires during the last year are a good reminder that one of the best ways to manage the aftermath of a natural disaster is to plan ahead. If you live in a natural disaster high-risk area, you can take steps to alleviate tax and financial issues post-disaster by following these tips: Check your homeowners or renters insurance…

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