The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025. The IRS today also issued technical guidance regarding all cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2026 in Notice 2025-67. Highlights of changes for 2026 PDF The annual contribution limit for employees who participate in 401(k),

As we approach the end of 2026, I wanted to share several important Federal and New Jersey tax updates that may affect your tax planning for the remainder of the year and beyond. Some of these changes may provide valuable tax-saving opportunities, depending on your individual circumstances. Please note that the following is a general overview. Eligibility requirements, income limitations, and other restrictions may apply. For additional information, please visit the IRS web

One Big Beautiful Bill Act (OBBBA) and the New Jersey Gross Income Tax NJ Division of Treasury reminding NJ taxpayers what qualifies as deductions for NJ Income Tax purposes in light of the One Big Beautiful Bill Act (OBBBA). https://www.nj.gov/treasury/taxation/njit13.shtml One Big Beautiful Bill Act (OBBBA) IRS details https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions

See below for recent tax updates: The IRS recently passed One Big Beautiful Bill Act: Tax deductions for working Americans and seniors...

https://www.nj.gov/treasury/taxation/anchor/

Highlights of changes for 2025 The annual contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and...

Notable changes for tax year 2025 The tax year 2025 adjustments described below generally apply to income tax returns to be filed...

See below for link to the NJ ANCHOR FAQ's and some information regarding the NJ ANCHOR program: https://www.nj.gov/treasury/taxation/anch...

Dear Client, I trust that you are doing well. As we move towards the end of 2024, I wanted to take a moment to share some important...

Dearest Clients, Best wishes of health and prosperity for you and your family despite what is going on. The 2024 tax filing season (2023...

The tax year 2024 adjustments described below generally apply to income tax returns filed in 2025. The standard deduction for married...

2023 The tax year 2023 adjustments described below generally apply to tax returns filed in 2024. The standard deduction for married...

The Value of the Bookkeeping Role book·keep·ing /ˈbo͝okˌkēpiNG/ noun The activity or occupation of keeping records of the financial...