News & Blog

30
Apr
2022

The Benefits and Tax Implications of Gifting Stock

Gifting stock is a great way to introduce a friend or family member to the benefits of investing. Young children are the ideal recipient because they have the benefit of time to maximize the value of the stock before they cash out. A question we’re frequently asked when a client receives stock as a gift or as part of an […]

19
Apr
2022

by: Joan Halter in: 2021 tax season, Boutique Accounting Firm in South Jersey tag: after tax day questions

After Tax Day: Answering Your FAQs

The 2021 tax deadline has just passed. Still, you may be concerned about a few common issues taxpayers tend to deal with. To help, I’ve developed the following answers to the FAQs I hear from my clients after tax day. Q: I owe taxes. What are my payment options? A: You have several payment options for your 2021 tax dues: […]

31
Mar
2022

by: Joan Halter in: Do I have to file a tax return tag: Do I have to file a tax return

Do I Have to File a Tax Return if My Income is Less than the Standard Deduction?

The final tax deadline is nearly here, which inevitably leads to questions regarding whether or not certain circumstances preclude one from having to file a state or federal tax return. Today, we’re answering one of the more common questions we’ve fielded: “Do I have to file a tax return if my income is less than the standard deduction? What if […]

15
Mar
2022

by: Joan Halter in: How to Help Your CPA tag: How to Help Your CPA

How to Help Your CPA Help You During Tax Season

How to Help Your CPA, Especially During Tax Season For the vast majority of Americans, tax season is stressful. Our tax code, which all taxpayers must strictly follow, is complicated and changes often. The good news is that I’m on your side, and I want to make your tax season as low-stress as possible. You can do several essential things […]

28
Feb
2022

by: Joan Halter in: top causes of taxpayer pain tag: top causes of taxpayer pain

Top Causes of Taxpayer Pain and How Halter CPA Can Help

Due to its complexity, density, and constantly-changing details, the American tax code is incomprehensible to the majority of the population. Even tax experts can struggle to understand the rules governing the system. For 2022, I want to share the top causes of taxpayer pain and how Halter CPA can help. 1. Paying Your Taxes Within the bounds of legality, we […]

28
Feb
2022

by: Joan Halter in: tax breaks for college students tag: tax breaks for college students

What to Know About Tax Breaks for College Students and Parents

For the 2021 tax year, there are two significant tax breaks for college students (or parents who are paying their tuition). These credits are designed to offset your tax payment directly rather than reducing the percentage of your income that is taxable. Please note that you may only claim either the Lifetime Learning Credit or the American Opportunity Credit per […]

27
Jan
2022

by: Joan Halter in: NJ child support tag: NJ child support

Tax Implications of Divorce, Alimony, and NJ Child Support

Divorce is one of the most stressful events a person can experience. Life becomes more complicated. From finances to living arrangements, relationships with others, and NJ child support, hardly an aspect of one’s life escapes the effects of divorce. So, what about your taxes? Today, let’s talk about the tax implications of divorce, alimony, and NJ child support. You may […]

20
Jan
2022

by: Joan Halter in: 2021 tax season tag: 2021 tax season, canopy, tax filing information

2021 TAX FILING: IMPORTANT INFORMATION

The following Q&A describes our 2021 tax filing process in detail. Your cooperation is greatly appreciated and necessary as we continue to navigate this pandemic and work to keep everyone healthy. Q: How will I communicate my tax situation to the office? We have adopted a technology platform, Canopy, that includes a secure client portal for the electronic sharing of […]

18
Jan
2022

by: Joan Halter in: 3 Ways to Do Your Taxes tag: 3 Ways to Do Your Taxes

3 Ways to Do Your Taxes: Turbo Tax, H&R Block, or Accountant

This tax season, as every year in recent history, there are 3 main ways to do your taxes. Should you file via H&R Block, TurboTax, or an accountant? The user interfaces on H&R Block and TurboTax are more sophisticated than they used to be, but should you trust the AI behind them to alleviate the anxiety you (along with many […]

31
Dec
2021

by: Joan Halter in: How long should I keep my tax returns tag: How long should I keep my tax returns

How Long Should I Keep my Tax Returns?

One of the most common tax-related questions we hear from our clients is: “How long should I keep my tax returns?” Firstly, once your taxes have been submitted for the year, what should you do to manage the paperwork that remains? While the majority of people can safely dispose of their personal tax documents (all of the paperwork you gathered […]