Insights: Tax Preparation & Planning Services

Taxpayer Guide to Identity Theft

We know identity theft is a frustrating process for victims. The IRS is taking this issue very seriously and continues to expand on their robust screening process to stop fraudulent returns. What is identity theft? Identity theft occurs when someone uses personal information such as your name, Social Security number (SSN) or other identifying information…

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Contemplating a Move to a State with Lower or No Income Taxes? Don’t Pack Your Bags Yet

Taxpayers of high-tax states often contemplate relocating and establishing their domicile in a more tax-friendly state.  With the latest tax act and the maximum federal deduction available for state and local taxes capped at $10,000, many more taxpayers are posing this question and exploring a strategy to change their domicile.  The strategy and success of…

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New Jersey Enacts New Income Tax Exemption for Veterans

You may qualify for a $3,000 exemption on your New Jersey tax return if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces on, or any time before, the last day of the tax year 2017. You will be able to add…

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Two Mercadien CPAs Are Awarded Prestigious Credentials

Princeton, NJ & Philadelphia, PA – The Mercadien Group is pleased to announce that two of its executives have earned significant designations in the accounting field. Mr. Digesh Patel, CPA, MBA, CGMA, PSA, a director in Mercadien’s Government Services Group, has earned the Registered Municipal Accountant (RMA) certification from the New Jersey State Board of…

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What You Need to Know About the Incoming Tax Law

The tax reform legislation that Congress approved on December 20th was the largest change to the tax system in over three decades. The last time the U.S. tax code saw significant reforms was under President Reagan in 1986. Those reforms sought to simplify income tax, broaden the tax base and eliminate many tax shelters. Under this new…

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The Tax Cuts and Jobs Act

On November 2, 2017, the U.S. House of Representatives Ways and Means Committee released a comprehensive tax reform bill called the “Tax Cuts and Jobs Act.”  The bill has a long way to go before it is law.  It is not possible to predict what provisions will survive, what will be added, or what will…

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The Sandwich Generation

An early morning stop at the hospital to visit your parent and to catch the doctor on their morning rounds, a hurried arrival at work, making follow-up appointments for your parent, schedule the well visits for the kids, start work, follow-up on the medical insurance denial, add the parent teacher conference to your calendar, work,…

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“What Do I Do About Highly-Appreciated Assets and Gift Splitting?”

Dear Holly: I bought Apple at $1.50, now it’s trading at $150.50. I also own AT&T that my grandfather gave me in 1975. These holdings and many others reside in my portfolio. How can I maximize the use of these appreciated assets and minimize the income tax affect? Dear Reader: One way to take advantage…

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Pennsylvania, Please Forgive Me

From now until June 19, 2017, taxpayers have the opportunity to pay delinquent Pennsylvania state taxes owed – without penalty – through the 2017 Pennsylvania Tax Amnesty Program (the Amnesty Program). Pennsylvania’s Tax Amnesty Program, established by Act 84 of 2016, ends on June 19, 2017. Individuals, businesses, and other entities with Pennsylvania tax delinquencies…

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Donor Advised Funds: Efficient and Effective Planned Charitable Giving

We have just completed the year-end rush of charitable giving and a barrage of requests from multiple organizations. How can we make this process more strategic and tax efficient? One option is a donor advised fund (DAF). A DAF offers an easy way for a donor to make significant charitable gifts over a long period…

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