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How the Social Security wage base will affect your payroll taxes in 2026 266 266 Lindsay Yeager

How the Social Security wage base will affect your payroll taxes in 2026

The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101 The Federal Insurance Contributions Act (FICA) imposes two payroll taxes on wages and self-employment income — one for Old-Age, Survivors, and Disability Insurance, commonly known as the Social Security tax,…

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Does your family know how to access your estate planning documents? 266 266 Lindsay Yeager

Does your family know how to access your estate planning documents?

Making sure your family will be able to locate your estate planning documents when needed is one of the most important parts of the estate planning process. Your carefully prepared will, trust or power of attorney will be useless if no one knows where to find it. When loved ones are grieving or faced with…

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Don’t forget to include a residuary clause in your will 266 266 Noelle Merwin

Don’t forget to include a residuary clause in your will

When creating a will, most people focus on the big-ticket items — including who gets the house, the car and specific family heirlooms. But one element that’s often overlooked is the residuary clause. This clause determines what happens to the remainder of your estate — the assets not specifically mentioned in your will. Without one,…

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What’s the right inventory accounting method for your business? 266 266 Noelle Merwin

What’s the right inventory accounting method for your business?

Inventory is one of the most significant assets on a balance sheet for many businesses. If your business owns inventory, you have some flexibility in how it’s tracked and expensed under U.S. Generally Accepted Accounting Principles (GAAP). The method you use to report inventory can have a dramatic impact on your bottom line, tax obligations…

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Expense Strategies for 2026: Reduce Taxes and Optimize Deductions 266 266 Noelle Merwin

Expense Strategies for 2026: Reduce Taxes and Optimize Deductions

Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions…

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Szczomak Named to the Forbes 2025 America’s Top 200 CPAs 266 266 Tonni

Szczomak Named to the Forbes 2025 America’s Top 200 CPAs

Parsippany, NJ – October 17, 2025 – Congratulations to our own John M. Szczomak, CPA and President of the New Jersey Society of CPAs on being named to the Forbes 2025 America’s Top 200 CPAs. This second annual list includes those from assorted specializations throughout the country. The CPAs have distinguished themselves through success at…

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SALT Relief Ahead: How the 2025 Cap Increase Could Cut Your Taxes 266 266 Noelle Merwin

SALT Relief Ahead: How the 2025 Cap Increase Could Cut Your Taxes

If you pay more than $10,000 in state and local taxes (SALT), a provision of the One Big Beautiful Bill Act (OBBBA) could significantly reduce your 2025 federal income tax liability. However, you need to be aware of income-based limits, and you may need to take steps before year end to maximize your deduction. Higher…

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The Financial Triple Play: 3 Reports Every Business Leader Should Watch 1200 1200 Noelle Merwin

The Financial Triple Play: 3 Reports Every Business Leader Should Watch

In baseball, the triple play is a high-impact defensive feat that knocks the competition out of the inning. In business, you have your own version — three key financial statements that can give you a competitive edge by monitoring profitability, liquidity and solvency. First base: The income statement The income statement (also known as the…

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Age-Based Tax Triggers: What You Need to Know 1200 1200 Noelle Merwin

Age-Based Tax Triggers: What You Need to Know

They say age is just a number — but in the world of tax law, it’s much more than that. As you move through your life, the IRS treats you differently because key tax rules kick in at specific ages. Here are some important age-related tax milestones for you and loved ones to keep in…

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Stop procrastinating and get to work on your estate plan 1200 1200 Noelle Merwin

Stop procrastinating and get to work on your estate plan

For many people, creating an estate plan falls into the category of important but not urgent. As a result, it can get postponed indefinitely. If you find yourself in this situation, understanding the reasons behind this procrastination can help you recognize and overcome the barriers that are preventing you from taking the first steps toward…

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Smolin Celebrates Grand Opening of New Parsippany Office with Ribbon-Cutting Ceremony 600 400 Noelle Merwin

Smolin Celebrates Grand Opening of New Parsippany Office with Ribbon-Cutting Ceremony

Parsippany, NJ – June 11, 2025 – Smolin proudly announces the grand opening of its new office at 10 Waterview Blvd., marked by a ribbon-cutting ceremony held yesterday. The event was graced by esteemed representatives from Morris County, the Township of Parsippany-Troy Hills, and the Morris County Chamber of Commerce. Special thanks to Commissioners Doug…

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Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them 1200 1200 Noelle Merwin

Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them

The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being considered by the Senate, it’s important to understand how the proposals could alter key tax breaks. Curious about how the bill might affect you? Here…

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