Year: 2015

In 2016, there will be a new Health Insurance product in New Jersey from Horizon Blue Cross Blue Shield called "Omnia".  Omnia Health Plans offer lower premiums for access to what is still one of the largest networks in New Jersey.  Horizon believes Omnia will offer lower out of pocket costs for certain doctors and hospitals.  No referrals are required from general practitioners and many will offer wellness benefits. Read More

In a surprise announcement yesterday the IRS released the attached notice delaying a deadline for ACA reporting by almost two months.   Read More

The Affordable Care Act (ACA) has brought about many changes with respect to health care and the employer/employee relationship.  One of these changes is that employers with at least 50 employees are now required to offer minimum essential health coverage to its employees.  The IRS has a central role in enforcing this requirement by tracking who is and is not making this coverage available to employees. To that end, new forms must be filed in… Read More

On Thursday December 17th, the Internal Revenue Service issued the standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes for 2016.   Read More

With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. The tax benefits associated with charitable giving could potentially enhance your ability to give and should be considered as part of your year-end tax planning.Giving not only means giving to a favorite charity, it can also… Read More

You undoubtedly know that hackers are everywhere these days, including openly operating in Moscow near the government offices and inside the Chinese military. You probably have virus and malware protection on your computer, and you know not to click on suspicious links sent by email. But an interesting new vulnerability is emerging which you may soon be hearing more about: internet-connected toys. Read More

Does naming a Beneficiary Matter? Doesn't it go to my estate anyway? Yes it matters. IRAs transfers are not covered under your Will, but according to beneficiary designation form that you complete for your IRA account. This is why it is important to complete a beneficiary form when you set up your account and make sure that it is kept updated. If you die before your required minimum distribution date, your estate is designated as… Read More

On November 24, 2015 the Internal Revenue Service announced that it is raising the safe harborthreshold for capital expense deductions for small business from $500 to $2,500. The new $2,500threshold takes effect starting with tax year 2016. Read More

Sending your kids to college is one of the most exciting times in one's life and being financial prepared can be even more gratifying.  However, often new clients tell us that they haven't started a 529 savings plan because it might impact their child's chances for financial aid.  Unless your income is below $185,000, chances of financial aid are slim.  Throughout this article, I will discuss tax-advantaged college savings plans (i.e. 529 college savings plan),… Read More