Rivero CPA

  • IRS Grants Relief for Taxpayers Affected by Reduction of Maximum Deductible HSA Contributions

    May 17, 2018

    The IRS recently announced relief for taxpayers with family coverage under a High Deductible Health Plan (HDHP) who contribute to a Health Savings Account (HSA).

     

    For 2018, taxpayers with ...

  • Updated Scam Alert

    The IRS recently warned of a new twist on an old phone scam as criminals use telephone numbers that mimic IRS Taxpayer Assistance Centers (TACs) to trick taxpayers into paying non-existent tax ...

  • Why Move Out?

    Millennials are on the move, but studies are finding ways they can be enticed to remain living in NJ.Redeveloping urban areas could assist in making the state more appealing. Almost 90 percent of ...

  • A Checkup for Your Paycheck

    For individuals receiving a traditional paycheck, when's the last time you took a close look at the numbers? With the popularity of direct deposit, paper paycheck stubs are a thing of the past, ...

  • Plan for a Better Year

    You survived another year’s tax filing — was the outcome what you expected? After looking at the results of this last year, and in light of the recent tax changes for this year, if ...

  • File Your Virtual Currency

    Income from virtual currency transactions is reportable on income tax returns. Virtual currency transactions are taxable by law just like transactions in any other property. The IRS has issued ...

  • Don't Fall For a Clever Scam

    Taxes are on our minds as we approach April. Whether you've filed yours yet or not, the scammers are out there, taking advantage of our concern for making sure everything is in good order.

    The ...

  • Good News in NJ for Veterans

    Beginning in the 2017 tax year, New Jersey will give an additional $3,000 exemption for military veterans. You are eligible to claim this exemption NJ state income tax return if you are a military ...

  • How Tax Reform Impacts You

    The Tax Cuts and Jobs Act brings a host of changes to tax returns for 2018. Highlighted are just a few of the new rules that may impact many of our clients. Please reach out to us to find out if and ...

  • Rules for NJ and Federal Property Tax Deductions Vary

    New Jersey taxpayers who prepaid one or two quarters of their 2018 property tax assessments at the end of 2017 need to be aware that the amount they can deduct on their federal tax return is not the ...

  • How Tax Reform Impacts Your 2017 Tax Returns

    The majority of the 2017 tax reform is effective after 2017. I’d like to explain important notes that will impact your 2017 tax returns.

    Medical Expenses

    Add up those medical ...

  • Are You Ready for the 2018 Tax Season?

    2018 tax filing season begins Jan. 29.

     

    Tax returns due April 17. The IRS set the Jan. 29 opening date.

     

    The IRS expects that the earliest date the ...

  • Minimizing Taxes Before Year End

    It's no secret that the new 2018 tax legislation will mean plenty of changes for us. Also, there are provisions of the law that are not being changed in the new legislation that do impact 2017 ...

  • No NJ Estate Tax!

    Did you know that the New Jersey estate tax has been repealed?

    The regulation was passed in the transportation bill in late 2016. Effective Jan. 1, 2018, the estate tax ...

  • Tax Relief for Hurricane Victims

    Disaster Tax Relief and Airport and Airway Extension Act of 2017:

     

    This bill modifies requirements for purchasing flood insurance and provides tax incentives for individuals and ...

  • New Rate for Business Travel

    If you or your employees are planning on traveling for business, you'll want to know that there are new per-diem rates for certain expenses, which are in effect from Oct. 1 2017 ...

  • Two Scams You Should Know About

    Scam Alert 1: Fake Donations

    It's a testament to the generosity of the people in our nation to want to pitch in and help those affected by a catastrophe. As we see all the destruction that ...

  • Reduce Summertime Costs

    Summer time may cause child care issues because younger children are out of school during times when the parents would be able to be at work. 

    "Many of my clients find themselves having ...

  • Surviving Multiple Generations Under One Roof

    We're back to 1950.

    Historically, we can point to periods in time when it was popular for generations of a family to share one home. Remember the TV show "The Walton's?" ...

  • Money Mistakes made by Milennials

    Millennials have grown up in a time of economic uncertainty. Are you financially prepared for job loss, illness or other emergencies that could have an impact on your financial ...

  • What's the Impact of Lower Corporate Tax Rates on Small Business and the Economy?

    Many of my small business clients ask how they can pay less in income taxes. As their accountant, I hear that all of the time.  I found this interview, which addresses this concern, of ...

  • Are You Aware of the New Tax Deadlines?

    April 18

    This year's federal filing deadline for individual returns is Tuesday, April 18th, not April 15th.
    Making a contribution to an IRA for tax year 2016
    Filing 2016 ...

  • Pennsylvania Offers Tax Amnesty

    If you reside in Pennsylvania and have struggled with past-due taxes, you'll want to hear this important news.

    From April 21 through June 19, 2017, the Pennsylvania Department of Revenue ...

  • Tax Impact of Early Withdrawals from Retirement Plans

    There are many reasons why we may be tempted to withdraw money from our Retirement Plans earlier than the date the plan indicates. 

    Before you take the leap, however, it's important that ...

  • 1099 Questions from Small Business Owners

    Working with our small business clients, I'm finding that the 1099 requirements seem confusing. Most business owners know that you're required to complete a 1099-MISC reporting form for an ...

  • Why use a CPA to Prepare your Taxes?

    Don't you just love all those commercials we're seeing on TV this time of year? You know, the ones that suggest that getting your taxes in order is as easy as popping some numbers into a tax ...

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Westfield

Buy a Vet ... Program Helps Formerly Homeless Veterans

May 21, 2018

UNION COUNTY, NJ — It started with a collection to help fund a Memorial Day barbecue at the Valley Brook Village veterans facility in Lyons, NJ. When the bucket collection raised $7,000 at John's Meat Market in downtown Scotch Plains, they decided to keep it going and had barbecues all summer. The program has grown ever since.

Steve Hackenberg, a Scotch Plains native, ...

Important Information from the Westfield Board of Health

May 21, 2018

To the Editor:

The Westfield Board of Health held a meeting on May 7, 2018.  

The Board discussed bicycle safety. As the weather improves and more people get outside we encourage all bicycle riders to wear properly fitted helmets. All riders under the age of 17 are required to wear a helmet under state law. Bicycle safety information for children can be found at ...

Upcoming Events

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Tue, May 22, 6:30 PM

TD Bank Ballpark, Bridgewater

Somerset Patriots vs. Sugar Land Skeeters ...

Arts & Entertainment Food & Drink Sports

Carousel_image_7b3032a93cc9b2430bb5_best_79fa8c672d731919f994_tap_building

Tue, May 22, 7:00 PM

Westfield Municipal Building, Westfield

Westfield Town Council Meeting

Government

Carousel_image_f8ced2bf05d8e7fbfbdd_2f020cb2f7df6c7c8da2_2a177e824adf6b74d203_3874c177a8150ea3a5d3_7a73b19e9d8232deefd8_af4060c99ecde13684c4_a939881d8eb75600f278_bccba5837a354ffbc745_img_4511

Tue, May 22, 7:30 PM

Westfield

Westfield Board of Education Meeting

Education

Westfield Police Blotter: Counterfeit $100 Bills, Man Arrested in Car Burglary & More

May 16, 2018

May 8, 2018 2:23 p.m.

A business in the 200 block of East Broad Street reported receiving payment for services with a counterfeit $100 bill. The suspect made a small purchase with the counterfeit bill and received change, depriving the business of $94.24 change and $5.26 purchase. Suspect described as a black male 25-40 years of age, with facial hair wearing a black Nike wind breaker jacket ...

Westfield Area Y Flyers Track Club Takes First Place in 13 Events at NJ Striders Meet

May 22, 2018

FAIR LAWN, NJ - The Westfield Area Y Flyers Track Club took home 13 first place finishes and set eight team records at the NJ Striders Meet last weekend.

Jasmine Parran (7-8)              1500m Run                 6:32.70            1st ...

Ask Maria: How can I help my son? 

Q: My son's best friend's mom just passed away. I am concerned for my son and don't know what to do for him. He is distraught. How can I help my son? 

Response:

Grief is a normal and natural reaction to the death of a loved one. No two people grieve the same, even in the family. I am certain that your son’s friend and mom are like family to your son. Losing his ...

17 Homes Sold week of May 6 to May 13 2018 in Cranford, Westfield, Mountainiside, Fanwood and Scotch Plains

Seventeen homes sold week of May 6 to May 13, 2018, in Cranford, Scotch Plains, Westfield,  Mountainside and Fanwood:*

 

               ...

Dog Missing from Fanwood Home

UPDATE: Reunited with owner!

ORIGINAL POST: Lexi was seen north side of Fanwood Thursday. She's 25 lbs., tall and looks like a fox.

Lexi is friendly and was wearing a collar with a tag. Call 732-259-5570 if you spot her.

IRS Grants Relief for Taxpayers Affected by Reduction of Maximum Deductible HSA Contributions

The IRS recently announced relief for taxpayers with family coverage under a High Deductible Health Plan (HDHP) who contribute to a Health Savings Account (HSA).

 

For 2018, taxpayers with family coverage under an HDHP may treat $6,900 as the maximum deductible HSA contribution.

 

The annual amount had been reduced to $6,850 for 2018 under the Tax Cuts and Jobs ...

TAPinto Featured Franchisee: Steve Lenox of TAPinto Paterson

This week's feature will focus on TAPinto Paterson's franchisee, Steve Lenox. Find out how the current owner of a public affairs firm went from a former State Director for Senator Frank Lautenberg to a proud TAPinto franchisee for New Jersey's third largest city.

 

Q. When did you join TAPinto.net?

I joined TAPinto.net in September, ...

Eight Westfield Student Vocalists Accepted into 2018-2019 All-State Choruses

Eight student vocalists from Westfield High School have been accepted into the 2018-2019 All-State Choruses.

Performing with the 2018 All-State Mixed Chorus in November will be Charlotte Geary, Zachary Lemberg, Joseph Maldonado, Vincent Mora, Nicole Player, and Matthew Siroty. The Mixed Chorus will perform at the New Jersey Education Association (NJEA) Convention in November and at the New ...

‘Chambers USA 2018’ Recognizes John Schmidt Among List of America’s Leading Lawyers for Business

Lindabury, McCormick, Estabrook & Cooper is pleased to announce that John H. Schmidt has once again been recognized by “Chambers USA” in their annual list of leading lawyers for business. Chambers and Partners, which produces “Chambers USA,” is a client referral organization that researches and subjectively ranks attorneys and law firm practice groups nationwide ...

'Turning Off the Morning News' brings comic twist

‘Turning Off the Morning News’ tackles today’s issues with a comic twist

By Liz Keill

PRINCETON, N J – Despite the late night comics, no one quite captures the insanity of the political/social status world like Christopher Durang.

His latest play, “Turning off the Morning News” hit the ground running.  John Pankow as Jimmy addresses the audience, ...

SURVIVING A STROKE: Quick Medical Response Gives Mom Her Life Back

Carotid artery dissection. It’s one of the most common causes of stroke in younger adults.

And while you might not associate the word “stroke” with younger patients, the condition – if not treated immediately – could lead to paralysis and even death.

Lindsey Singh can attest to the importance of immediacy. The 31-year-old mother of two from Flanders experienced ...

Capitalist or Communist?

Karl Marx may have been the pioneer, but many other Jews were also involved in the struggle for communism, particularly in the early days of the Russian revolution. Personally, I don’t think that we have any apologies to make for this phenomenon. Having suffered unbearably under successive oppressive regimes, many of those political activists genuinely thought communism would be better ...

Stocks Can Rise in a Rising Interest Rate Environment

Investors remain concerned about the potential impact of higher interest rates on stocks. In their most recently released minutes, the Federal Reserve Open Markets Committee indicated the US economy is on solid footing and the economic conditions warrant continued gradual increasing of interest rates. This set off a sale in the stock and bond markets as investors began pricing in a fourth ...

AtlantiCast

AtlantiCast: Episode 15

On this week’s AtlantiCast, learn some important tips for controlling and avoiding diabetes from an Atlantic Health System expert, see how Atlantic Health is advancing cutting-edge research, hear what’s being done to keep health care environmentally friendly and much more!

 

Obituaries

Donn A. Snyder, 88, died at home on May 8 in Southern Shores, NC, where he was a resident for ...
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Suspect Charged in Fatal North Plainfield Hit-and-Run Fled Country, Prosecutor Says

May 22, 2018

NORTH PLAINFIELD, NJ – A 36-year-old suspect charged in the hit-and-run death of a pedestrian May 15 has fled the country, according to Somerset County Prosecutor Michael H. Robertson.

Charges have been filed against Mario Infante, age 36, of New Street, Plainfield, following an investigation by detectives from the Somerset County Prosecutor's Office and North Plainfield ...