BUSINESS OWNERS HELPFUL LINKS:
Warner Lott Duritza & Lowe | PO Box 1228 | Wall, NJ 07719 | (732) 280-9060 | firstname.lastname@example.org
IRA Contribution Limit
IRA Catch-Up Contributions
IRA AGI Deduction Phase Out:
Single or Head of Household
SEP Minimum Compensation
SEP Maximum Contribution
SEP Maximum Compensation
SIMPLE Maximum Contributions
401(k),403(b), Profit-Sharing Plans:
Defined Contribution Limits
Defined Benefit Limits
457 Elective Deferrals
Control Employee (board member or officer)
Control Employee (compensation-based)
Taxable Wage Base
TAXPAYER'S GUIDE TO IDENTITY THEFT
As Identity Theft is becoming a big issue, the IRS has published a to do list should this happen to you. Click HERE
Be Proactive - Take measures to protect your identity. Here are just a few examples we suggest:
-Computer Safety: Install a firewall and virus protection, and keep them updated. If you get an email from an unknown source, do not click on any links in it. Do not use operating systems no longer updated with antivirus patches (ex: XP).
-Protect Social Security Numbers: Treat your number like gold, do not reveal your digits or include them unless absolutely necessary. Do not carry your social security card in your wallet and avoid sharing it on the internet (where it remains forever)
-Make copies of the contents of your wallet, in case it is stolen.
-Do not leave mail with personal information in your mailbox.
-Place strong passwords on your bank accounts, credit cards, and telephone accounts.
-Be cautious of phone scammers: Never give information out on the phone to someone who calls you. For example, if a utility company calls, you can always hang up and dial the 800 number on your bills to see if it was legitimate.
-Check your credit ratings: The credit bureaus can monitor your credit and report when there is unusual activity.
-Don't give out personal data loud: Speak your identifying information quietly in stores, remember even a phone number can give a person your address.
Click the sun below for information regarding the latest IRS Tax information for individuals!
This includes how the new tax reform may affect your paycheck!!
NEW JERSEY NEWS:
TAX AMNESTY PROGRAM STARTING NOV 1.
Contact us for details if you have past due NJ taxes!
The new NJ sales tax rate of 6.625 percent will take effect January 1, 2018 and replace the current sales tax rate of 6.875 percent.
CLICK ON THE FLAG FOR THE NJ
VETERAN'S EXEMPTION SUBMISSION FORM:
Meals and Entertainment Update:
The IRS recently published guidance on revised business expense deduction for meals & entertainment. Taxpayers can still deduct 50% cost of business meals if the taxpayer is present at the meal, and the food or beverages aren't considered "lavish or extravagant." Entertainment is no longer deductible. For more guidance, please refer to IRS Notice 2018-76.