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Personal Tax

Home Category: Personal Tax

When Are My Business and Personal Tax Returns Due?

Joseph Visci
Federal Due date / deadline for filing tax returns is extended from April 15 to July 15, 2020 – no need to file for an extension.  Extension will be granted until October 15, 2020, however an extension request must be filedDue date for contributing to an IRA is extended from April 15 to July 15,…

NJ Earned Income Tax Rate Update

Christine Visci
New legislation signed into law on July 1, 2018, made several changes to the New Jersey Gross Income Tax Act at N.J.S.A. 54A:1-1 et seq. as part of New Jersey’s fiscal year 2019 budget. The changes include increases in the New Jersey Earned Income Tax Credit (EITC) and the property tax deduction, and the addition…

Taxes, Taxes, I’m Selling Real Estate, How Can I Reduce Taxes?

Joseph Visci
Published on November 8th, 2017 It seems every time we turn around we are paying one tax or another.  When real estate is sold there are usually multiple taxes to be paid.  We are often asked, will I have to pay capital gains taxes when I sell my real estate? A second question becomes, is…

Estate Taxes Today

Joseph Visci
Published on May 26th, 2014 What are Estate Taxes? How are Estate Taxes calculated? How much Estate Tax will my Estate have to pay? These are very common questions that should be addressed so that plans can be considered that might reduce the taxes. When a person dies and their assets pass to beneficiaries or…

To Roth or Not to Roth?

Joseph Visci
Published on April 28th, 2014 Sometimes individuals are eligible to contribute to an IRA or Roth IRA. If a person is eligible to contribute to either plan, must then consider the more important question, which plan, traditional IRA or Roth IRA is the better plan? The answer – it depends. An IRA is a tax…
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