Tax day has come and gone. All tax returns and taxes owed were due April 15th. So what happens if you miss the deadline? Let’s take a look at how to request a New Jersey tax extension. If, for any reason, you were unable to file your tax returns by April 15th, you will need to apply for an extension of the time to file. If approved, your extension will allow you until October 15th to submit your tax returns. In New Jersey, you must file a separate extension for your New Jersey tax return and your federal tax return. If you are filing a federal extension, you will need to include a copy of that ..read more

It’s NJ Tax Prep Time! We are less than a week from April 15—the deadline to submit your 2023 tax return. Are you feeling the pressure of last-minute filing? Don’t stress. You still have time to file an accurate return on time. Joan W. Halter, CPA, has provided expert financial services and tax prep in South Jersey since 1991. We can help you manage Tax Day like a pro. Here are some essential tips for last-minute filing: 1. File on Time This is the most critical point on this list. You must file electronically or via mail by midnight on April 15, 2024. If you are filing electronicall ..read more

The 2024 tax season is coming to a close. New Jersey and Federal income tax returns are due Monday, April 15th. Still need to file? Confused about how to file? Halter CPA, a reputable and experienced tax pro in South Jersey, is here to help! We understand the process of filing taxes can be confusing and intimidating—but it doesn’t have to be. With our extensive experience and expertise, we have worked with countless individuals, couples, and businesses to file their taxes. Working with a professional CPA and tax prep firm like Halter CPA can help you manage more complex tax situations and avoi ..read more

Tax season is upon us. Filing your taxes can require a lot of time and effort. As individuals and businesses begin gathering their financial records and compiling documentation, many will realize they need help to complete this daunting task. The more complex your financial situation is, the more intimidating this task gets. If you are looking for a tax pro in South Jersey, Halter CPA can help! Not all CPAs are tax preparers. Some CPAs lack the knowledge and experience to work confidently with state and federal tax codes. Many CPAs maintain a focus on bookkeeping and will, at times, file simpl ..read more

You are in good company if you feel like you have constantly been adjusting your business plan since 2020. Many New Jersey small business owners have struggled to adapt their businesses to the pandemic and post-pandemic changes, rising inflation, and the threat of impending recession. With supply-chain problems compounding these issues for some industries, it can seem like the odds are stacked against your small business. Here are some common issues NJ small businesses face in a post-pandemic world. 1.   Inflation Rising inflation means most small businesses’ costs are up. To combat ..read more

With the holidays swiftly approaching, many folks are getting swept up in the spirit—and stress!—of the season. If you feel like the last month of the year suddenly requires a significant change of pace, you’re not alone. Some small business owners will spend the next few weeks in a chaotic dash to the end of the year, while others will feel like all their work is coming to a standstill. Whatever your NJ small business faces this December, we have some tips for surviving the holiday season and feeling confident and refreshed for the new year. 1.   Prepare for Supplier and Shipping De ..read more

The tax deadline passed on April 18th. But just because tax season is behind us doesn’t mean all of your tax problems have been resolved. Here are some FAQs to help with your lingering post-tax day questions. Q: What if I didn’t file my tax returns by April 18th? A: When it comes to taxes, you are better late than never. If you are a taxpayer, you must file your taxes. Not filing so can result in hefty fines and even legal action if you are suspected of tax fraud. If you are required to file, it is important to file even if your submission is late. When you file late, you can expect ..read more

Filing a tax return is a required part of being a responsible earner in New Jersey. There are a few exceptions depending on your income, filing status, and other specific exceptional circumstances. We’ll expound upon the exceptions below. Income The IRS puts forth new tax filing thresholds every year. For 2022, the gross income you can earn without having to file taxes is below: Filing Status Gross Income (under 65) Gross Income (above 65) Single $12,950.00 $14,700.00 Head of Household $19,400.00 $21,150.00 Married filing jointly $25,900.00 $28,700.00 Married filing separately $5.00 $5.00 Qual ..read more

The IRS reports that over 165 million returns were filed for the 2021 tax year. Despite so many people filing for taxes every year, tax myths persist. Tax laws and guidelines change yearly, and many details surrounding tax filing can become convoluted. Halter CPA hears many tax myths every year from people trying to file their taxes. Here, we will debunk four common tax myths and give you the facts. Myth #1: Filing taxes is voluntary. While this is one of the most straightforward tax myths to debunk, a surprising number of people believe that filing taxes is voluntary. This stems from the ..read more

March 2023 is the last full month before Tax Day on April 18th. It also tends to be the month most people file taxes. If you still haven’t filed taxes, don’t panic. You still have time. It is, however, time to start making some important tax planning and filing decisions. Whether you have been too busy to file or anxiously avoiding the entire task, Halter CPA can help. Here are some of our top March tips for NJ taxpayers. 1.   Retroactive IRA Contributions Can Cut Your Tax Bill There are still ways to decrease your 2022 tax bill even though the year is over. You have until April 18th ..read more