LMD Tax & Accounting LLC

02/04/2026

Is it in the mail? This year’s income tax forms should have been sent out by February 2nd. Here is a quick overview of common tax forms to expect in the mail:

✅ W-2 (Wage and Tax Statement): Received from employers, outlining annual wages and withheld taxes.
✅ 1099-NEC (Nonemployee Compensation): For independent contractor or freelance income.
✅ 1099-K (Payment Card and Third-Party Network Transactions): For payments received via credit card or apps like PayPal/Venmo.
✅ 1099-INT & 1099-DIV: Reports interest and dividends from banks and brokerages.
✅ 1099-G: Reports government payments, such as unemployment compensation or state tax refunds.
✅ 1098 (Mortgage Interest Statement): For interest paid on your home mortgage.
✅ 1098-E/1098-T: Reports student loan interest (E) or tuition payments (T).
✅ 1099-R: For distributions from pensions, annuities, or retirement plans (IRA/401k).
✅ 1095-A: Received if you had health insurance through the Marketplace.

WHAT TO DO:
✅ Wait for all forms: Ensure you have all documents to avoid filing an inaccurate return, typically by early February.
✅ Compare with records: Check forms against your own records (paystubs, bank statements) for accuracy.
✅ Correct errors: If a form is wrong, contact the issuer immediately for a corrected version.
📞 We are here to help! Contact us at 856-981-2444 to get started today!

01/31/2026

Tax season is open and is bringing some big changes for your tax refund this year.

FEDERAL TAX BREAKS for Tax Year 2025:

✅ Seniors (65+) – Extra $6,000 deduction per person (that's $12,000 for married couples)

✅ Tipped Workers – Deduct up to $25,000 in qualified tips

✅ Overtime Workers – Deduct qualified overtime pay (up to $12,500 or $25,000 for joint filers)

✅ Car Buyers – Deduct up to $10,000 in auto loan interest on U.S.-assembled vehicles purchased in 2025

✅ SALT Deduction – Increased cap from $10,000 to $40,000 for state and local taxes

✅ Child Tax Credit – Raised to $2,200 per child

✅ Higher Standard Deduction – Increased for everyone

✅ NEW Forms – Form 1099-DA for crypto transactions, Form 1098-VLI for car loan interest

🏠 NEW JERSEY STATE TAX HIGHLIGHTS:

✅ NJ Child Tax Credit – Up to $1,000 for each child age 5 or younger (income must be $80,000 or less)

✅ ANCHOR Property Tax Relief – Homeowners may qualify for up to $1,750 rebate; renters up to $700

✅ Senior Exemption – NJ residents 65+ get $1,000 income tax exemption

✅ Retirement Income Exclusion – Taxpayers 62+ with income under $150,000 may exclude retirement income

✅ Veterans Benefits – Tax-free military pensions plus $6,000 additional exemption for honorably discharged vets

✅ EV Sales Tax Exemption ENDED – Zero emission vehicle exemption expired June 30, 2025

⚠️ IMPORTANT: Many of these new deductions require a valid Social Security number and have income limits. Federal tax changes are temporary
(2025-2028), so don't miss out.

We are here to help you navigate these changes to ensure that no savings are missed.

💼 Contact us at 856-981-2444 to get started today.

01/26/2026

Today marks the official start of tax season 2026, and this year brings MAJOR new tax breaks for your 2025 tax return. Check out our 2026 Tax Season Survival Guide, and we look forward to serving you. Contact us at 856-981-2444 to get started today.

Welcome to tax season 2026! This year brings the most significant tax law changes in years, thanks to the One Big Beautiful Bill Act (OBBBA), plus important updates to New Jersey state tax programs. In today's economy, t...

06/20/2025

Tax scam alert: Scammers love a good disguise, and they're using Artificial Intelligence to create a voice with an American accent claiming to be from the non existant "American Center For Tax Relief", as heard in this audio sample recorded on a GTPD’s Officer's voicemail.

If you receive a call like this , DO NOT CALL THEM BACK , report the call as "spam" to your phone provider (if available), and/ or delete the voicemail.

If someone contacts you unexpectedly about a tax refund or relief, the most important thing to know is that the real IRS won’t contact you by email, text message, or social media to get your personal or financial information. Only scammers will.

Thank you GT police!

To read the IRS alert, visit: https://www.irs.gov/help/tax-scams/recognize-tax-scams-and-fraud

Gloucester Township Police: AI Generated Scammer "Tax Relief" Phone Call▶️ Please SHARE this video with your older family members/ loved ones ❤️◀️Scammers lo...

04/15/2025

On this April 15th, we want to express our sincere gratitude to our amazing clients, friends, and family for making the 2025 tax season a success. The highlight of this season is always the opportunity to assist you in navigating the world of taxes and reconnecting with our valued clients year after year. Remember, we're here to support you year-round with any of your tax needs. As always, we are here to help.

04/14/2025

The clock is counting down, and tomorrow is the official federal income tax deadline! We've created the ultimate tax organization guide to help you stay on top of your tax to-do list. Contact us at 856-981-2444 to request a tax extension or to get started today. We are here to help!

Organizing your tax information can be overwhelming. We've created a new series on tax organization to help you break through the clutter.

04/13/2025

The income tax filing deadline is this Tuesday, April 15th. Keep calm and contact us to help or to file an extension at 856-981-2444. We are here to help!

04/11/2025

The countdown is on! Tax season ends on Tuesday, April 15th! Contact us today at 856-981-2444 to get started or to file an extension. We are here to help!

03/08/2025

Don’t forget to spring ahead tonight! Set you clocks forward one hour. This means we are one hour closer to the tax filing deadline! 🤩 Contact us by texting READY to 856-981-2444 to get started today.

03/05/2025

TAKE NOTE: important dates for tax season 2025. The main one is April 15! Contact us by texting READY to 856-981-2444.

03/04/2025

The child tax credit is a tax benefit for parents and caregivers with dependent children under 17. You can get up to $2,000 per child, but the actual amount you receive depends on your modified adjusted gross income and filing status. Find out all the details here. Contact us today to get started at 856-981-2444.

The child tax credit is worth up to $2,000 for taxes filed in 2025. Learn more about who qualifies, how it works and the future of the credit.

03/03/2025

Those affected by recent natural disasters, such as the California wildfires or Hurricane Milton, can access IRS resources specific to each state for relief. If you need help or have questions, please contact us at 856-981-2444.

Get IRS news in your local area, particularly state-specific information about disaster relief and tax provisions.