Kurt J. Lawn CPA PFS

01/28/2026

Overtime Income Deduction
The deductible amount is the amount that exceeds your regular
rate of pay—the “half” portion of “time-and-a-half” compensation.
As with tips, to qualify, the overtime pay must be reported on a
Form W-2, Form 1099, or other specified statement furnished
to the taxpayer. For the overtime deduction, the IRS notes two
criteria from the outset: (1) It only applies if you received overtime,
and (2) you and/or your spouse who received qualified tips must
have a valid Social Security number to claim the deduction.
This deduction generally only applies to employees, unless
an independent contractor is subject to the FSLA rules. Or if the
worker is incorrectly classified as an independent contractor, when
they are in fact an employee.

Your overtime information won't be reported on your 2025 W-2, but the 2026 W-2 will be modified to include this allocation, so you'll need to provide that information for 2025.

01/23/2026

Happy New Year Everyone! It's that time of year, and obviously I don't mean Christmas. Tax Season has begun. IRS officially opens e-filing this Monday, January 26th. I have started taking appointments, Day and evening appointments Monday through Friday, and day appointments on Saturdays.

12/06/2025

Tax Tip - Energy Credit
If you're thinking about replacing any exterior windows or doors with Energy Star Certification rated windows and doors for your principal residence, it's an ideal time because the tax credit for this improvement expires 12/31/25. Only 25 more days.

10/25/2025

Just a reminder that the deadline is less than a week away. Friday, October 31st is the deadline to file.

01/13/2025

It's that time of year already. IRS is accepting E-filing January 27th. If you make an appointment before this date, I'll efile on the 27th if I have your return completed.

10/31/2024

Make sure you mail your NJ PTR (Senior Freeze) today. Must be postmarked today or dropped off at a NJ Taxation office.

10/19/2024

Tax season is FINALLY over. I'm now available for Financial Planning appointments to assist you in achieving your financial goals. Retirement planning, Investments, IRA investments, Education Funds, & Life Insurance. Day and evening appointments available.

03/04/2024

Please don't forget to take advantage of your energy credits you had done in 2023. Just had a client save about $16,000 for Solar.

02/17/2024

Just a reminder. Contributions to a NJ 529 College savings plan is now a tax deduction on the NJ return for 2023. The Contributions needed to have been made during the 2023 tax year.

02/17/2024

Don't forget about your energy efficient improvements! You may miss out on an IRS tax credit.
https://www.irs.gov/credits-deductions/home-energy-tax-credits. Day and evening appointments available. (609) 272-2259.

Energy improvements to your home such as solar or wind generation, biomass stoves, fuel cells, and new windows may qualify you for credits expanded in 2022.

02/01/2024

New Jersey Child Tax Credit
Eligible New Jersey residents can claim a refundable Child Tax Credit on their New Jersey Resident Income Tax Return (Form NJ-1040). The credit amounts increased for Tax Year 2023 and can be up to $1,000 for each dependent child age 5 or younger that is claimed on Form NJ-1040. The credit reduces any tax owed and can result in an increased refund for the taxpayer.
Eligibility Requirements for the Child Tax Credit

You must be a New Jersey resident for either all or part of Tax Year 2023;
You must have a valid Social Security number or Individual Tax Identification Number;
You must be allowed to claim the child as a deduction for the tax year for federal income tax purposes;
The child must be age 5 or younger by the end of the tax year;
You must have taxable income of $80,000 or less;
You cannot have a filing status of married filing separately. You must file as:
Single;
Married/civil union couple filing joint;
Head of household; or
Qualifying widow(er)/surviving civil union partner.
How to Claim the Child Tax Credit

You must complete and file Form NJ-1040 even if your gross income is below the filing requirement.

You can file your return electronically for free using the New Jersey Online Income Tax Filing system.

If you need assistance preparing your New Jersey Resident Income Tax return, volunteers are available to offer free Income Tax preparation at sites throughout the state.

01/22/2024

Hope everyone had a great New Year! Thank you for your business! Tax return e-filing will be starting next week. We have started booking appointments , so if there's a specific date you're interested in, please don't hesitate to call. If you usually owe, you can still have them prepared early and I will have the payment come out April 15th unless you request otherwise. Also I'm requesting mail-in returns by March 25. This will allow me enough time to to do an efficient job. There will be an additional fee for mail-in returns past that date. Also I still offer 10% discount for each referral up to 50%. This is for tax return referrals only, not Financial Planning Services. Office (609) 272-2259.