Ronald J. Cappuccio, J.D., LL.M.(Tax), Tax Lawyer, is a Business and Tax Law Firm emphasizing Personal and Business IRS Tax Negotiation, Offers In Compromise, Installment Agreements, as well as Audits, Delinquent Tax, and Tax Collections Issues, Employee and Independent Contractor issues, Payroll Taxes, Tax Liens, Wage Levy Release, Bank Levies and Seizures. NJ Tax Court, US Tax and US Court of Federal Claims representation.

We can help you start a Limited Liability Company ( LLC ) which can be the best form of business organization, as well as establish Corporations, S Corporations, Partnerships, Limited Partnerships and Non-Profit organizations. We also can represent you in Buying and Selling a business.

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Current Weekly Newsletter

This weeks' newsletter

The New Home Buyer Credit is Extended!

• First time home buyers receive a $8000 credit for purchase made before April 30, 2010.
• Existing homeowners who have lived in their home more than 5 years (out of the last 8) can get a $6500 credit.
• The credit is for couples with Adjusted Gross Income of less than $250,00 ($125,000 for individuals.)
• The house purchased must be less than $800,000
• The purchaser must be over 18
• If the house is purchase prior to the tax return filing, it may be considered as purchase prior to December 31 of the previous year and included in that years tax return.

Time to Buy and Expand a Business

The current depression/recession is has been a disaster for many businesses.  Companies, both large and small, are unloading assets and cutting staff. This may be the perfect time to start or expand a business to take advantage of some good opportunities. Acquiring a struggling rival business, hiring talented experienced people and growing your market share. A business can focus on opportunities like these to improve its competitive position at fire-sale prices. Time to Buy a Business

IRS Audits!

IRS audits are increasing!  Small business audits, especially Schedule C filers and pass-through entities such as Partnerships, S Corporations, and Limited Liability Companies  (LLC) are the focus of the government. Because small businesses are the best form of tax shelter for most people, they are under the greatest scrutiny.

If you get a notice of an audit, call Ronald J. Cappuccio, J.D., LL.M.(Tax) - tax attorney- at 856 665-2121. Do not speak to the  IRS. We will do it for you and possibly prevent you from jeopardizing your  case! ...More

Loan Modifications

Are you getting threatened with a potential mortgage foreclosure? Having your attorney negotiate a loan modification can help change some the terms of your mortgage. For example, a lowered interest rate may make your monthly payment more affordable to help avoid foreclosure. Sometimes, past due payments can be rolled into the package to keep you current......More

Get prepared for the Roth IRA!

Starting January 1, 2010 anyone can convert their regular IRA to a Roth IRA. The $100,000 income limitation is removed for the next two years. That means if you have a regular IRA you can convert it to a Roth IRA. The advantage of the Roth IRA is that it grows tax-free, there is no minimum distribution requirement, and withdrawals after age 59 1/2 are tax-free. The disadvantage is you have to pay income tax on the conversion. ...more

Tax Court Loosens Innocent Spouse Rules

Sometimes when a joint return results in liabilities in the form of penalties, tax, and interest, one spouse may be innocent. It used to be that an innocent spouse had only two years to apply for relief in such cases. Now a recent Tax Court decision loosens the restrictions in some circumstances....more

2009 Inflation Adjustments Announced

The IRS has released Revenue Procedure 2008-66 announcing increases in deductions, exemptions, limitations, and credits for 2009, as well as widened tax brackets. Key changes affecting 2009 returns include the following:

• The value of each personal and dependency exemption increases to $3,650.
• The new standard deduction is $11,400 for married couples filing a joint return, $5,700 for singles and married individuals filing separately, and $8,350 for head of household.
• Tax-bracket thresholds increase for each filing status. For a married couple filing a joint return, the taxable-income threshold separating the 15-percent bracket from the 25-percent bracket is $67,900.
• The maximum earned income tax credit for low and moderate income workers and working families with two or more children is $5,028. The income limit for the credit for joint return filers with two or more children is $43,415.
• The annual gift exclusion rises to $13,000, up from $12,000.

Tax Savings Tips Expiring in 2009 Last-Chance Opportunities for Tax Savings ...click here!

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