Pamela Avraham's Blog (50)

Getting married? There are many tax topics that should be reviewed before the wedding.

Read below about how we can help you before your big day!

Tax Tips for Newlyweds

Office Suite for Professional in CPA firm (good for referrals)

Suitable for attorney, insurance agent, therapist

Separate entrance & waiting room,

Sunny, copy/print center

Conference room, internet, parking,…

CPA Firm located in Edison, NJ is seeking a Senior Tax Accountant to join their team. We offer an excellent work/life balance and flexible schedule for full or part-time. 

Candidate must be a CPA with expertise in corporate, partnership and complex individual taxes. 

For more information please contact Pamela at 732-777-1158…

The income tax rates for estates and trusts are very steep. Executors and trustees may still reduce 2019 income taxes by making distributions. Click here for more information:

Reduce 2019 Estate & Trust Income Taxes…

Several year end tax moves can help reduce your 2019 income taxes and/or eliminate the net investment income tax. Highly appreciated and poorly performing securities are tools in reducing income taxes.

Read the possibilities which can still be done in 2019: …

In Charges of Savta's Finances? Need an Accounting?

Siblings and relatives often accuse the financial in-charge of mismanagement and pocketing Savta's funds.

As children you fought over the teddy bear. The fight intensifies when you argue over a million dollars.…

Urbach & Avraham, CPs

INVITES YOU TO A

Complimentary Seminar on Special Needs Trusts  

for your Disabled Family Member

Join us on Wednesday morning, May 22, 2019

at our Edison CPA firm for an informative seminar.

Learn the basics about special needs trusts and the benefits for 

special needs…

Urbach & Avraham, CPAs invites you to a complimentary seminar on

Medicaid and long-term care. 

We are hosting 

Mark Friedman, Esq. of Friedman Law  on March 27

from 8:00 AM to 9:45 AM at our Edison, NJ office.

Mark is…

Good news for partnerships, S corporations, sole proprietorships, and estates and trusts 

(pass-throughs) which can deduct  up to 20% of their Qualified Business Income (QBI) under new IRS Section 199(A). See which businesses qualify. 

There are still options to maximize this deduction for 2018.  For more information click here: …

NJ estate tax was repealed as of Jan. 2018. When favorite Aunt Em passed away you expect to inherit without any NJ death taxes. NJ also has an inheritance tax which is alive and kicking. Your inheritance from your aunt is subject to a 15% NJ Inheritance Tax. Follow the yellow brick road for more details:…

Confused by the many new tax laws? Let our summary of the deductions for qualified business income, mortgage interest, real estate taxes, and student loan interest assist you. Includes an explanation of the new capital gains tax and gifting provisions. Click here for the summary:

Summary of 2018 Tax…

The Clock is Ticking…NJ Tax Amnesty Program Runs Through Jan. 15, 2019

Businesses and individuals with unpaid NJ tax liabilities may be able to get a break on penalties under the Amnesty Program which is in effect from November 15, 2018 through January 15, 2019.  The measure applies to all state taxes including gross income, corporate business tax and sales and use tax.  However, it does not apply to…

NJ Employers recently received a NJ Notice of new unemployment rates. This is not an invoice. It is an opportunity to make a voluntary payment to reduce your NJ unemployment rates. But there is a deadline soon. For more information click here:NJ Unemployment Taxes Voluntary Payment

Owe back taxes to NJ?

Haven't filed your NJ business or personal income tax returns?

Now is the time to file your delinquent NJ Tax Returns and pay your back taxes.

NJ will abate ALL penalties and one-half of the interest.

For more information click here: …

There are new and exciting changes to 529 plans. The new tax act allows qualified expenses from 529 plans of up to $10,000 per beneficiary per year to be used for elementary and secondary school expenses. These expenses include tuition at religious institutions. 

Now Savta can help her grandchildren save for Jewish day schools and yeshivot.

For many of the other…

Your child probably knows a lot more about technology—from designing a website to posting on social media—than you ever will. At many family businesses, Junior may already be helping with a variety of digital and other tasks.

Have you considered paying your kids for their work? Besides motivating them, putting kid(s) on the payroll is an attractive way to transfer assets to them while saving taxes. You might be able to help them fund their college costs or purchase a home…

You must leave specific consent to control your digital assets to your power of attorney, executor or social media provider in order for your appointee to access your account. For  more details, click here:Digital Assets

Not all foreign securities were created equally. Foreign mutual funds are considered PFICs (Passive Foreign Investment Companies) and are subject to complex tax rules. Those owning PFICs should  make sure they are reported them correctly. For more details click here…

 NJ Employers Face August Deadline to Reduce SUI Contribution Rates

Did you check your NJ SUI rates?

On July 28, 2017, the annual Notice of Employer Contribution Rates were mailed to all New Jersey employers.  This is not a bill, but rather a summary of the way the NJ Department of Labor calculates the employer contribution…