Wasserman Accounting CPAs

Wasserman Accounting CPAs An accounting firm servicing businesses, trusts, estates and individuals with all their tax and accounting needs.

Most NJ buyers aren't surprised by the mansion tax itself. They're surprised by how it actually works.Once consideration...
06/19/2026

Most NJ buyers aren't surprised by the mansion tax itself. They're surprised by how it actually works.

Once consideration crosses $1M, the tax applies to the full amount. Not just what's over the line. The whole thing.

What counts as consideration? More than most people expect. Assumed mortgages, seller credits, and financing components all factor in. A deal that reads $975K on paper can clear $1 million once everything gets added up — and that triggers the full tax.

Technically the buyer pays. In practice, it gets negotiated. Market conditions decide who actually takes the hit.

Save this before your next closing.

Book a free consultation: wassermanaccounting.com

Most business owners chose their entity structure when they first started and have never revisited it. That's a problem,...
06/09/2026

Most business owners chose their entity structure when they first started and have never revisited it.

That's a problem, because the structure that made sense at launch often isn't the most tax-efficient option once the business grows.

A sole proprietor paying 15.3% SE tax on every dollar of profit. An LLC that qualifies for S-Corp election but hasn't made it. A C-Corp structure for a business that doesn't need it.

Entity planning is one of the highest-leverage conversations we have with clients. It's not complicated — but it does require running the actual numbers for your specific situation.

If you haven't reviewed your structure in the last two years, it's worth a conversation.
🌐 https://www.wassermanaccounting.com

You can legally reduce your tax bill by $5,000–$16,800 this year — and build your retirement at the same time. 🏦 SEP-IRA...
06/05/2026

You can legally reduce your tax bill by $5,000–$16,800 this year — and build your retirement at the same time. 🏦

SEP-IRA, Solo 401(k), SIMPLE IRA — each one works differently and has different limits.

Swipe to compare all three and find out which one is right for you. ➡️
🌐 https://www.wassermanaccounting.com/

Most IRS audits aren't random — they're triggered by specific red flags that the IRS algorithm catches. High deduction-t...
06/02/2026

Most IRS audits aren't random — they're triggered by specific red flags that the IRS algorithm catches.

High deduction-to-income ratios. Income that doesn't match 1099s on file. Three or more years of business losses (hobby-loss rules). Round numbers across every expense category.

The good news: most audits are preventable with good documentation, accurate reporting, and clean books.

And if you do receive an IRS notice or get selected for an audit, having a CPA handle the response is worth every dollar. Responding incorrectly — or saying more than you need to — often makes things worse.

We handle IRS correspondence and representation. Don't go it alone.
🌐 https://www.wassermanaccounting.com/

One of the most overlooked tax issues we see: W-4s that haven't been updated in years. Life changes — marriage, divorce,...
05/26/2026

One of the most overlooked tax issues we see: W-4s that haven't been updated in years.

Life changes — marriage, divorce, a new child, a side business, a significant income jump — all affect your withholding. When your withholding doesn't match your actual tax liability, the result is either a large April bill plus an underpayment penalty, or an oversized refund (which is just an interest-free loan to the IRS).

The fix is quick: use the IRS Tax Withholding Estimator, fill out a new W-4, hand it to HR. Done.

Or have a CPA run the numbers and tell you exactly what to enter.
🌐 https://www.wassermanaccounting.com/

Quarterly estimated taxes are one of the most confusing parts of being self-employed or running a business. The core con...
05/22/2026

Quarterly estimated taxes are one of the most confusing parts of being self-employed or running a business.

The core concept is simple: since there's no employer withholding, you pay taxes four times a year instead of once. Miss a payment and you owe an underpayment penalty — currently around 8% annually on the unpaid amount.

The safe harbor rule makes it manageable: pay at least 100% of last year's total tax liability across four equal installments and you avoid penalties no matter what you owe in April.

If you're not sure what your payments should be, we calculate exact quarterly estimates for our clients. No guessing.
🌐 https://www.wassermanaccounting.com/

After years of working with business owners, we've seen the same five tax mistakes come up again and again. Mixing perso...
05/19/2026

After years of working with business owners, we've seen the same five tax mistakes come up again and again.

Mixing personal and business finances. Skipping quarterly estimated payments. Misclassifying contractors vs. employees. Staying in the wrong entity structure. And only thinking about taxes in April — when most opportunities are already gone.

None of these are unusual. None of them are complicated to fix. They just require knowing what to look for.

If any of these sound familiar, a strategy review is worth your time.
🌐https://www.wassermanaccounting.com

The cost of messy books shows up in ways most business owners don't expect. Cleanup fees at tax time ($500–$3,000). Miss...
05/14/2026

The cost of messy books shows up in ways most business owners don't expect.

Cleanup fees at tax time ($500–$3,000). Missed deductions that were never documented. Loan denials because the financials looked unreliable. Decisions made on numbers that were wrong.

Clean monthly bookkeeping solves all of that - not just at tax time, but year-round.

We handle bookkeeping for business owners who want accurate numbers every month, not just in April. If your records aren't where they should be, let's fix that now.
🌐 https://www.wassermanaccounting.com

The LLC vs. S-Corp question comes up in almost every strategy conversation we have with small business owners. Here's th...
05/11/2026

The LLC vs. S-Corp question comes up in almost every strategy conversation we have with small business owners.

Here's the short answer: if you're netting under $60K, an LLC is usually fine. Above that, especially above $80K, an S-Corp election typically saves you $5,000–$10,000 per year in self-employment tax.

At $120K net profit, the savings are around $7,650 annually. Over 10 years, that's $76,500 in your pocket instead of the IRS's. The switch involves payroll setup and additional filings, but the math almost always wins.

Happy to run your specific numbers — just reach out.
🌐 https://www.wassermanaccounting.com/

The deductions most business owners miss aren't exotic — they're straightforward line items that get overlooked because ...
05/07/2026

The deductions most business owners miss aren't exotic — they're straightforward line items that get overlooked because no one pointed them out.

Home office space. Business mileage. Self-employed health insurance premiums. Retirement contributions. Software subscriptions. Business meals (50%). Professional development.

The list is longer than most people realize, and each one reduces your taxable income directly.

We review deductions as part of every client engagement at Wasserman Accounting. One review often finds $2,000–$8,000 in missed deductions.

Worth a conversation.
🌐 https://www.wassermanaccounting.com

Address

105 Creek Crossing Boulevard
Hainesport, NJ
08036

Telephone

+16092818096

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