Gail Rosen CPA

Gail Rosen CPA Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Gail Rosen CPA, Accountant, 2032 Washington Valley Road, Martinsville, NJ.

"If you live in NJ, be careful on a Roth conversion" said Gail Rosen, CPA. "Taxpayers 62 or older may qualify to exclud...
06/18/2024

"If you live in NJ, be careful on a Roth conversion" said Gail Rosen, CPA. "Taxpayers 62 or older may qualify to exclude all their pension income at certain income levels. A Roth conversion can put you over that limit for a rude awakening."

In some states, the conversions can lead to more taxes and a loss of pension exemptions.

"Self-employed people are often scaed to take the home office deduction for fear of an audit. In all my years of practi...
04/30/2024

"Self-employed people are often scaed to take the home office deduction for fear of an audit. In all my years of practice, I have not seen one client audited due to deducting a legitimate home office" said Gail Rosen CPA.

Turns out clients are as mistaken about tax preparers as they are about taxes.

"A client starts a business with expenses and no revenue. They are excited for their tax loss, but unfortunately can no...
04/28/2024

"A client starts a business with expenses and no revenue. They are excited for their tax loss, but unfortunately can not deduct their start-up expenses until the first sale is made" said Gail Rosen, CPA.

Turns out clients are as mistaken about tax preparers as they are about taxes.

"Small businesses are often not aware that startup costs are not deductible until their FIRST SALE. Once have 1st sale...
04/24/2024

"Small businesses are often not aware that startup costs are not deductible until their FIRST SALE. Once have 1st sale, can deduct start-up costs over 15 years or elect to deduct the first $5,000 in the 1st year of business," Gail Rosen, CPA.

https://ow.ly/5Ixn50RlvyB

These legitimate tax shelters may help you reduce the amount you owe to Uncle Sam.

Early filers are seeing smaller tax refunds this year. This is a delcine of 29% so far... but tax season is just gett...
03/19/2024

Early filers are seeing smaller tax refunds this year. This is a delcine of 29% so far... but tax season is just getting started.

https://ow.ly/ZLaY50QV9r7

Early tax filers are seeing smaller tax refunds in 2024, according to IRS data.

"The new BOI requirement is a huge, unfair burden for accounting firms, especially small firms" Gail Rosen said.
03/18/2024

"The new BOI requirement is a huge, unfair burden for accounting firms, especially small firms" Gail Rosen said.

Affected businesses may turn to their accountants for help, but are firms the best source to help clients report beneficial ownership information to the feds?

“The tax laws are becoming more complicated each year and many professionals have ‘had enough,’” Rosen said. “Young peop...
03/18/2024

“The tax laws are becoming more complicated each year and many professionals have ‘had enough,’” Rosen said.
“Young people are not interested in a job that includes the pressures of tax season”.

https://ow.ly/6Eae50QUYkM

Even though April 15 is fast approaching, there are still qualified tax prep experts who can assist you.

Good news > Wait times to reach the IRS are around 2 minute so far... hope it lasts!
03/17/2024

Good news > Wait times to reach the IRS are around 2 minute so far... hope it lasts!

Overall IRS call volumes are down this filing season and taxpayer wait times are hovering around two minutes, IRS Commissioner Danny Werfel said Friday.

Vet costs, grooming and food for a service dog that aids peple with disabilities can qualify as a medical deduction.ht...
02/19/2024

Vet costs, grooming and food for a service dog that aids peple with disabilities can qualify as a medical deduction.

https://ow.ly/LraO50QBZ6Y

People within the disability community want to know... Is a service animal tax deductible? Here's what you need to know for tax season.

Did you know that vitro fertization, treatment costs of drug/alcohol use and weight weight programs all may qualify as a...
02/16/2024

Did you know that vitro fertization, treatment costs of drug/alcohol use and weight weight programs all may qualify as a medical deduction?
https://ow.ly/L2jf50QBYSO

You can deduct medical expenses that exceed 7.5% of your income. Learn more about the medical expense deduction and how to save money at tax time.

You can also increase your tax payments through other sources to help offset underpayment penalties, said Gail Rosen, a ...
12/15/2023

You can also increase your tax payments through other sources to help offset underpayment penalties, said Gail Rosen, a tax specialist + CPA in NJ.

If you underpaid your estimated taxes this year, there's still time to mitigate IRS penalties.

Gail Rosen, CPA, pointed out that many freelancers assume they can deduct all their new business startup costs, but this...
11/15/2023

Gail Rosen, CPA, pointed out that many freelancers assume they can deduct all their new business startup costs, but this can’t be done until their first sale.

Freelancers are responsible for figuring out their own tax obligations and when to pay. Learn how to pay taxes as a freelancer.

Address

2032 Washington Valley Road
Martinsville, NJ
08836

Telephone

(732) 469-4202

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