Year-round · Federal · NJ · NY
Tax Planning and Projections for New Jersey Business Owners and Individuals
A tax return reports what already happened. Planning changes the number before the year closes. We project your federal and state tax for the current year and tell you what to do while there is still time.
Monday to Friday 10am to 6pm, weekends 11am to 5pm. After hours, book a time.
What a projection gives you
A number, scenarios and a short list of actions.
Your expected tax
Federal, New Jersey and New York for the year, from year-to-date numbers.
Side-by-side scenarios
A bonus this year or next, a property sale, a change in owner salary.
Right-sized estimates
Quarterly payments that avoid penalties without overpaying.
Actions with dates
A short list of what to do and by when, not a 30-page report.
Planning for business owners
Eight decisions that move the number, each one done by the rules.
Entity choice
Whether an S Corporation election saves money after payroll costs and state taxes.
Owner compensation
A salary that is defensible as reasonable and efficient for the qualified business income deduction.
Retirement contributions
Which plan fits, a Solo 401(k), a SEP IRA or a 401(k) through your payroll provider, and how much to put in. We size the contribution, your provider sets up the plan.
Hiring your children
Paying your children for real work at a reasonable wage. Done right, the wages are deductible to the business and can be tax-free to the child.
Reimbursing yourself
An accountable plan that pays you back, tax-free, for the business use of your home office, phone and car.
Pass-through entity tax
Whether to elect NJ BAIT or NY PTET, and how much to pay in by year end.
Timing
Equipment purchases, depreciation elections, and when to bill and pay.
A sale or exit
How the structure of a sale changes what you keep.
Planning for individuals
The years that are not like last year.
Equity compensation
RSU vesting, option exercises and concentrated stock positions.
A big sale
A home, a rental property or a business interest.
A move
Into or out of New Jersey or New York, and what each state will still tax.
Under-withholding
From bonuses, multiple jobs or investment income.
Common questions
Before you book.
How do I avoid an underpayment penalty?
For federal purposes, you are generally safe if you pay in at least 90% of this year's tax or 100% of last year's. The prior-year figure rises to 110% when last year's adjusted gross income was over $150,000.
Can I put my children on the payroll?
Yes, if they do real work for the business and are paid a reasonable wage for it, with time records to show it. If the business is a sole proprietorship, or a partnership owned only by the parents, wages to a child under 18 are also free of Social Security and Medicare taxes. S Corporation wages do not get that exemption.
When should planning happen?
After the second or third quarter, when there are real numbers to work with and still time to act. October and November are the usual window.
December 31 closes most of your options.
The first consultation is free. Call before year end.