by Torzewski & McInerney, LLC | Jan 25, 2024 | Tax Planning
In the realm of financial planning, staying abreast of tax laws is a cornerstone of securing your family’s financial future. The year 2024 brings about notable changes to inheritance tax and estate planning that warrant careful consideration for effective tax...
by Torzewski & McInerney, LLC | Dec 5, 2023 | Tax Planning
Starting a new small business is an exciting endeavor, but the complexities of tax planning can be overwhelming. As a new business owner in New Jersey, understanding the ins and outs of tax regulations is important for financial stability. 1. What business taxes does...
by Torzewski & McInerney, LLC | Oct 6, 2023 | Tax Planning
With Morristown just 31 miles away from New York City, many of its residents seize the opportunity to work in the vibrant and bustling environment of the Big Apple. While this arrangement has many advantages, it also raises concerns about taxes. The good news is that...
by Torzewski & McInerney, LLC | Jun 28, 2023 | Tax Planning
Inheritance can be a mixed blessing when a significant portion of it goes towards paying taxes. If you are planning your estate in New Jersey, you need to understand how your decisions can impact the tax burden on your heirs. Thoughtful estate planning can help to...
by Torzewski & McInerney, LLC | Feb 7, 2023 | Tax Planning
Most people will not have to worry about paying estate taxes because the threshold is so high. But estate taxes are not the only taxation that may occur on your estate after your death. Your heirs may also face taxes on their inheritance. So, if you want to minimize...
by Torzewski & McInerney, LLC | Nov 29, 2022 | Tax Planning
One aspect of estate planning to consider is the taxes that your heirs will pay upon your death. Taxation can happen at various levels and in multiple ways. You should also plan with taxes in mind. One tax in New Jersey is the inheritance tax. This is a payment on the...