Blue Heron Cove Financial Services

04/04/2026

Did you know . . .
For tax years 2025 through 2028, the total amount of deductible state and local income taxes, including property taxes, is limited to $40,000, but is subject to reduction based on your income. For tax years 2018 through 2024, this amount is limited to $10,000 per year.

03/24/2026

In case you were wondering. . .

NJ does not follow OBBBA deductions. The Division of Taxation confirmed that federal deductions for tips, overtime, and seniors do not apply to NJ Gross Income Tax. NJ operates an independent tax system under N.J.S.A.6 days ago

03/07/2026

Important Update:

Attention!!

CMS to Reissue Some Medicare Beneficiary Identifiers (MBIs)

Centers for Medicare and Medicaid Services (CMS) has issued a notification that 1.3 million Medicare Beneficiary Identifiers (MBIs) will be reassigned with an effective date of April 14, 2026. Members who are impacted will receive a new card with a new MBI during March 2026.

02/15/2026

Free money

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

02/15/2026

No checks please!

02/14/2026

Rumors abound that IRS will no longer accept checks for payments to IRS. The information IRS has posted on its website encourages taxpayers to make payment electronically but does not yet require this.

Back in late March 2025, the President signed Executive Order 14247 directing the government to terminate paper checks; those going out as well as those coming in. In late September IRS released News Release IR-2025-94 which stated paper tax REFUND checks for INDIVIDUALS would be phased out with some limited exceptions.

02/08/2026

Seniors and Social Security/Railroad Retirement Disability Benefit Recipients

In February 2026, NJ will begin mailing the Property Tax Relief Application, Form PAS-1, only to those applicants who filed a paper application in the prior application year or to those who may be newly eligible for the Senior Freeze (Property Tax Reimbursement), ANCHOR, and Stay NJ Programs.

For residents who submitted the PAS-1 electronically last year, we will send a postcard notifying you when you can file your PAS-1 application for Tax Year 2025 online.

01/28/2026

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

01/28/2026

New family member in 2025? Open a Trump account when you file your tax return.

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

01/28/2026

How to open a Trump account during the 2026 tax season — it's your 'first opportunity,' expert says

As tax season kicks off, families with minor children can now register for Trump accounts.
To open the account, an election must be made on IRS Form 4547.
Form 4547 can be filed separately or with your 2025 tax return.
Later in the year, this election can also be made via

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

01/25/2026

Born in 1960? You have to wait till 67 to receive 100% Social Security Benefits!

You can start collecting your Social Security retirement benefit at age 62, but your retirement benefit is permanently reduced by 30%. You can only receive full benefits when you reach your full retirement age, which is based on your birth year. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase, and you will earn delayed retirement credits (DRCs) that will increase your monthly payment by about 8% per year.