Tuesday, June 9, 2020

MY NEW DOLLAR STORE


The dollar store economy (or) How Barack Obama is like Sam ...

Did you hear?  I have a new Dollar Store of tax-saving reports. 

Each of these tax-saving reports id only $1.00 each!

WHAT’S NEW FOR 2020

A compilation of the inflation and cost of living adjusted numbers you need to know for 2020 federal tax planning and return preparation, incorporating all the changes enacted by the GOP Tax Act.

WHAT'S NEW FOR 2019

If you still haven't completed your 2019 tax return this will provide you with most of the information you will need to know.

HOW TO PASS LESS NJ STATE INCOME TAX
 
Most NJ taxpayers concentrate on their federal tax return and spend minimal time on their NJ return, simply taking numbers from the 1040 and putting them on the NJ-1040.  As a result, they are paying more NJ state tax than necessary, often paying tax on income that is not even taxed by NJ.  By becoming informed on NJ state tax law you can make sure that you pay the absolute least amount of NJ Gross Income Tax possible for your particular situation.  This report discusses a few of the ways you can pay less New Jersey state income tax.

CHARITABLE CONTRIBUTION GUIDE

The recently passed CARES (Coronavirus Aid, Relief, and Economic Security) Act allows taxpayers who do not itemize to claim a deduction for most charitable gifts made in cash (or check) of up to $300 on the 2020 Form 1040 (or 1040-SR).  This report reviews what you can and cannot deduct as a charitable contribution on your tax return and the rules for claiming a deduction. 

THE IMPORTANCE OF KEEPING SEPARATE TRACK OF MORTGAGE DEBT

With the elimination of the itemized deduction for home equity debt interest under the GOP Tax Act it is more important than ever to keep separate track of acquisition debt and home equity debt - going back to the original purchase of your home.  This report explains the new, and some old but still applicable, rules for deducting mortgage interest and provides a detailed example of how to properly track your mortgage debt.

The reports will be sent to you as a pdf email attachment.   You can receive a print copy of these reports sent via postal mail for $2.00 - the additional $1.00 to cover postage, paper and ink costs.  

Send your check or money order payable to TAXES AND ACCOUNTING, INC for $1.00 or, $2.00 per report, and your email or postal address, to –

TAXES AND ACCOUNTING, INC
MY DOLLAR STORE
POST OFFICE BOX A
HAWLEY PA 18428

TTFN













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