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BUSINESS OWNERS HELPFUL LINKS:
Duritza Lowe Glassheim & Yursha | PO Box 1228 | Wall, NJ 07719 | (732) 280-9060 | ylowe@wbandl.com
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.
NEW JERSEY NEWS:
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:
Get ready for the 2023 Tax Filing Season!
Be aware of the following changes for the 2023 Tax Filing Season:
New Filing Requirements Mandated by the Corporate Transparency Act, Effective January 1, 2024:
- Every 25% owner of an LLC, S corporation, C Corporation and Limited Partnership interest must file with FINCEN.
Child Tax Credit:
- For 2023, parents can claim a maximum child tax credit of $2,000 for each child through age 16 if you meet adjusted gross income requirements.
- You may receive a refundable portion of the child tax credit up to $1,600 per qualifying child.
Child and Dependent Care Credit:
- You may claim 35% on up to $3,000 in expenses for one person, or up to $6,000 of expenses for two or more people and is a non-refundable credit. This means that the maximum child and dependent care credit is $1,050 for one dependent or $2,100 for two or more dependents.
Earned Income Credit Table for 2023:
Children Max AGI (Single) Max AGI (MFJ) Max Credit
ZERO $17,640 $24,210 $600
ONE $46,560 $53,120 $3,995
TWO $52,918 $59,478 $6,604
THREE $56,838 $63,398 $7,430
TAX REFORM
