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Matthews, Panariello P.C.

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United States
Paramus, NJ
Matthews, Panariello P.C.

As certified public accountants, we provide accounting, tax and consulting services of the highest quality.

09/02/2026

To attract and retain skilled workers, your small business needs to offer more than competitive pay. Your benefits package matters, too.

Tax-free fringe benefits may be especially valuable to employees. Examples include many types of insurance (health, disability, long-term care and life), assistance plans (dependent care, adoption and educational) and transportation benefits, subject to certain limits. The One Big Beautiful Bill Act also changed some fringe-benefit tax rules for 2026 and beyond.

Open enrollment is right around the corner for many businesses. As you review your 2027 benefits package, contact us for help evaluating your current offerings and fine-tuning them as needed.

08/31/2026

If you’re thinking about relocating, don’t choose a new state based only on climate, cost of living or proximity to family. Also review the tax implications.

For example, some states don’t have a personal income tax, and some that do have one offer tax breaks for pension payments, retirement plan distributions and Social Security payments. Also be aware that a state with no personal income tax may impose high property, sales or estate taxes.

Before making a move, contact us to review the potential income, property, sales and estate tax implications. We can help you minimize potential negative tax consequences and make the most of any tax advantages offered by the new state.

08/27/2026

Bartering can be a viable way to conduct business, especially if you’re strapped for cash. But you can’t escape tax obligations.

The fair market value of goods or services you receive generally must be reported as taxable income. Business expenses related to the exchange may also be deductible. Special rules apply if you use a barter exchange, including when trade credits are taxable and whether Form 1099-B reporting applies.

Good records are essential, including documentation of the fair market value, invoices, barter agreements and statements from barter exchanges. Whether you already barter or are considering it, contact us to discuss the tax and reporting implications.

08/24/2026

Could your traditional 401(k) or IRA balance be too large? Maybe!

Contributing as much as you can to tax-deferred retirement accounts can be a good idea. Contributions are pretax or deductible, and tax-deferred compounding can turbocharge growth.

But sometimes maximizing tax deferral is counterproductive. This may be true if tax rates increase by the time you pay tax on distributions. Also, retirement plan distributions are taxed at your ordinary-income rate, not your long-term capital gains rate. So you may pay a higher tax rate on dividends and growth than you would if you held the investments in a taxable account.

Fortunately, there are strategies that can help. Contact us to learn more.

08/19/2026

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s income — typically 45% to 65% of pre-disability earnings. But in some cases, income taxes can take a bite out of disability benefits.

Taxability usually hinges on who paid the premiums. If your employer paid them, the payouts from the policy generally will be taxed to you just as if the income were paid directly to you by your employer. If you paid the premiums, the payments you receive generally won’t be taxable. State tax treatment of disability benefits varies.

We can help you assess how much disability coverage you need depending on the tax consequences and other factors.

08/17/2026

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and planning are a big deal.

In addition to reporting business income and expenses, you may owe self-employment tax and need to make quarterly estimated payments. You might also need an employer identification number (for example, if you hire employees). State and local income, sales, payroll, and other tax requirements may apply, too. Careful planning can help you maximize deductions and choose the right retirement plan for your situation.

Contact us to learn more about the tax aspects of being a sole proprietor, including the reporting and recordkeeping requirements.

08/13/2026

If your child is heading to college this fall, tax breaks may be available. For example, you might be eligible for the American Opportunity Tax Credit (AOTC) of up to $2,500 per student for the first four years of college. But the AOTC is phased out for married joint filers with modified adjusted gross income between $160,000 and $180,000 (between $80,000 and $90,000 for heads of households).

If your child has a tax-advantaged education account, such as a 529 plan, tax-free withdrawals can be taken to pay qualified expenses. But expenses paid with tax-free withdrawals can’t be used to claim the AOTC.

Contact us to discuss these and other tax tips for your situation.

08/10/2026

Recent tax law changes made the New Markets Tax Credit permanent. This program encourages private investment in economically distressed communities by offering federal income tax credits to qualifying investors.

If your business invests in a certified community development entity (CDE), you may be eligible for a credit equal to 39% of your investment over seven years. Alternatively, your business may benefit indirectly by receiving CDE financing for renovations, equipment, expansion or other eligible projects in qualifying low-income communities.

Contact us to learn more. We can help you estimate the potential tax or financing benefits and comply with the applicable requirements.

08/06/2026

Your employees use Form W-4, “Employee’s Withholding Certificate,” to tell you how much federal income tax to withhold from their pay. Most forms are routine, but an altered certificate, unusual accompanying statement or IRS lock-in letter may require special handling.

Employers generally aren’t responsible for verifying the information employees provide on W-4 forms. However, you must reject invalid forms, apply proper withholding rules when no valid form is on file and follow IRS withholding instructions. Reviewing your payroll procedures now can help prevent costly errors. Contact us for guidance on W-4 compliance and other payroll withholding issues.

08/03/2026

Mutual funds offer an easy way to invest in a diversified portfolio. But the tax treatment isn’t so simple.

One challenge is that certain mutual fund transactions are treated as sales even though they might not seem like it. Another is that determining your tax basis for shares sold can be complicated, especially if you dispose of only part of your interest in the fund and the shares were acquired at different times for different prices. Also, mutual fund capital gains distributions are generally taxable, even when reinvested in the fund.

If you have questions about the tax treatment of mutual funds, contact us. We can help you be a tax-smart mutual fund investor.

Address

95 N State Rt-17
Paramus, NJ
07652

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

http://www.mpcpas.com/

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