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NEUHAUS CPAs MAY 2025 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2025, Powered by CPA Site Solutions Tax Options for Vacation Home Owners Who Want to Sell With property values soaring in many beach, mountain and other destinations, some vacation home owners are contemplating selling their properties. If your vacation home's value has significantly increased, how can you minimize the federal income tax impact when you sell? Here are some tax-smart strategies to consider.   Full Article Make Tax Friends with PALs The tax rules for passive activity losses — or PALs, for short — aren't overly friendly towards taxpayers. In fact, the rules may prevent you from being able to currently deduct losses sustained from certain activities. The IRS states that long-term equipment losses are passive and not deductible unless [...]

NEUHAUS CPAs APRIL 2025 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2025, Powered by CPA Site Solutions Business Owners: It's a Good Time for Stock Redemptions Are you looking for a tax-smart way to get money out of your business? Stock redemptions convert corporate ownership interests into cash. Shareholders in closely held corporations may want to consider redeeming their shares sooner rather than later to take advantage of today's historically low tax rates — while they last. This article explains how this strategy works.   Full Article Facing a HIPAA Audit: What to Know Since the Health Information Technology for Economic and Clinical Health Act (HITECH) was passed, the Department of Health and Human Services has been supplied with a range of tools to support enforcement. This article explains the three types of [...]

NEUHAUS CPAs MARCH 2025 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2025, Powered by CPA Site Solutions Small Businesses: 5 Last-Minute Tax Breaks to Consider for 2024 Tax Day is right around the corner. Small business owners who haven't yet filed their federal income tax returns may still have opportunities to cut their business tax obligations for 2024. Here are some tax strategies to consider as the filing deadline approaches.   Full Article A Dozen Questions to Ask Before Buying Distressed Commercial Properties Thinking about buying a commercial property in an area hard hit by the economy? Buyers who do their homework may be able to uncover profitable opportunities. But there is no substitute for a careful examination of a property and all that comes with it. Here are 12 questions [...]

NEUHAUS CPAs FEBRUARY 2025 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2025, Powered by CPA Site Solutions Ready, Set, File: 8 Tax Deductions You Might Not Know About In the haste to file a timely income tax return, some taxpayers may lose out on valuable tax breaks. Don't let this happen to you! Meet with your tax advisor as soon as possible to discuss the tax breaks you may be eligible to claim on your 2024 return. Here's a list of eight breaks many taxpayers are unaware of.   Full Article Working with Medical Debt Collection Firms At one time or another, every physician has a patient that refuses or forgets to pay a bill. Medical practices have their own unique set of challenges when it comes to bill collections, which [...]

NEUHAUS CPAs JANUARY 2025 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2025, Powered by CPA Site Solutions Breaking the Nest Egg: Tread Carefully with Early Retirement Plan Withdrawals When life throws you a curveball or an opportunity that's too good to pass up, you might want to tap into your tax-deferred retirement savings for extra funds. While this may be convenient, it's important to understand the full tax cost. If you're under age 59½, the total includes a 10% early-withdraw penalty, unless an exception applies. Here are details to help decide what's right for your situation.   Full Article Don't Get Taken: Facts to Know about Eminent Domain Eminent domain when a government pays "just compensation" to take property from a private landowner for public use, is unpleasant enough without ending [...]

NEUHAUS CPAs DECEMBER 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Act Now: 5 Tips to Cut Your 2024 Tax Bill Mark your calendar for December 31. Why? This is the cutoff date for individuals to implement most tax-saving strategies for the 2024 tax year. If you wait until tax filing season, you'll generally be out of luck (but there are exceptions). Here are five proactive ideas to discuss with your tax advisor before you ring in the New Year.   Full Article Medical Practice Scheduling Tips to Help Improve the Bottom Line Appointment scheduling is a critical function of a doctor's office, yet many practices schedule in a seemingly haphazard fashion. Yet nothing annoys patients more than spending a long time in the waiting [...]

NEUHAUS CPAs NOVEMBER 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Bunching Charitable Donations to Maximize Your Tax Benefits Are you planning to donate to charity before the end of the year? Deductions for charitable contributions are available only to taxpayers who itemize. While tax breaks aren't the sole consideration when donating to charities, they certainly sweeten the deal. Here's a classic strategy that many philanthropic people use to help ensure their donations count for tax purposes.   Full Article How to Make Your Property as Profitable as Possible When market values fall or there's a threat of declining values, commercial real estate investors may struggle. The pandemic brought changes few of us anticipated, making the world seem much less certain than before. With these uncertainties in [...]

NEUHAUS CPAs OCTOBER 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Protect Your Child from Identity Theft In today's digital age, anyone can become the victim of identity theft, but minors may be especially vulnerable. Victims may incur monetary losses and their credit histories can be severely damaged — and the adverse effects may even extend to other family members. Here are key findings from a recent identity theft survey, along with some tips to help safeguard your loved ones' sensitive personal information.   Full Article What Can Be Gained From Asking Patients for Opinions? Your practice can benefit by conducting periodic assessments of your patients' satisfaction. The only sure way to tell if your patients are satisfied is to ask them and a survey is an [...]

NEUHAUS CPAs SEPTEMBER 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions 8 Steps Toward Enhanced Financial Security Do you have concerns about your financial well-being? You're not alone. Given today's high prices, volatile markets and geopolitical risks, you might be wondering what you can do to strengthen your financial position for the future. Here are eight steps to consider.   Full Article Making the Most of ADUs Accessory dwelling units (ADUs) are all the rage in urban areas, such as Los Angeles, Denver, Washington, D.C., San Francisco and Portland. The demand is expected to climb as the population ages and younger would-be homeowners are priced out of traditional houses. Not surprisingly, an ADU can boost a property's value, depending on certain factors that appraisers consider. This article [...]

NEUHAUS CPAs AUGUST 2024 NEWSLETTER Neuhaus CPAs 311 Blvd of the Americas Suite 303 Lakewood, NJ 08701 (732) 886-5430 Email Us Visit our website FOLLOW US: Unsubscribe Your Privacy Disclaimer of Liability © 2024, Powered by CPA Site Solutions Top 10 Tax Breaks to Consider on Extended Returns Beware: If you extended your 2023 federal income tax return, the due date for filing your individual return is October 15, 2024. But there could be a silver lining. Now that you have a clearer picture of your tax situation, you may be better positioned to take advantage of certain tax breaks. Here are 10 ideas worth considering.   Full Article Hiring a Doctor at Your Practice: A Few Points to Consider When your practice grows to the point that you need to add more doctors, proceed with caution. Physicians whose habits or bedside manners don't fit well with your practice can bring more headaches than they [...]