Rose & Co CPAs

Rose & Co CPAs We are here to provide you with expert tax advice and help you navigate the complexities of tax laws

You know your 2025 federal income tax return is due April 15, 2026. But do you know what else has an April 15 deadline? ...
03/31/2026

You know your 2025 federal income tax return is due April 15, 2026. But do you know what else has an April 15 deadline? If you don’t, you could miss out on valuable tax-saving opportunities or become subject to interest and even penalties. The April 15 deadline also generally applies to 1) making 2025 IRA contributions, 2) making 2025 SEP contributions, 3) paying the first installment of 2026 estimated taxes, 4) filing a 2025 income tax return for a trust or estate, 5) filing a 2025 gift tax return, and 6) filing a Report of Foreign Bank and Financial Accounts (FBAR). An extension is available in some cases, but not for the payment of tax due. Call us at (609) 795-2358 to discuss which deadlines apply to you.

Business owners are widely (and quite rightly) advised to regularly engage in detailed strategic planning. But a common ...
03/30/2026

Business owners are widely (and quite rightly) advised to regularly engage in detailed strategic planning. But a common problem is that the details can pile up quickly, leaving owners feeling overwhelmed and uncertain. The solution: Follow a methodical, step-by-step approach that enables you to chart an adaptable and profitable course into the future. Contact us at (609) 795-2358 for help designing or refining your business’s strategic planning process.

Many businesses offer flexible spending accounts (FSAs) for health care and dependent care. One potential drawback is th...
03/26/2026

Many businesses offer flexible spending accounts (FSAs) for health care and dependent care. One potential drawback is the use-it-or-lose-it rule. Under IRS cafeteria plan rules, unused amounts generally are forfeited after any applicable grace period or permitted health care FSA carryover. Employers may retain forfeitures, often to offset plan costs. If not retained, the funds may be used to reduce the employee contributions that would be required to reach certain FSA balances for the next plan year or returned to employees, provided these amounts are allocated on a reasonable and uniform basis. Call us at (609) 795-2358 for help reviewing your plan and ensuring forfeitures are properly handled.

The cost of goods sold (COGS) drives your company’s bottom line, but its accuracy hinges on how well you track inventory...
03/25/2026

The cost of goods sold (COGS) drives your company’s bottom line, but its accuracy hinges on how well you track inventory. Even small miscounts and misclassifications can distort your margins and cloud decision-making. That’s where we come in. We can review your inventory methods for consistency, reconcile physical counts to your books and verify proper cost allocations. Identifying discrepancies early can help you catch errors and shrinkage before they escalate. With dependable COGS data, you’ll gain clearer insight into product performance, pricing strategy and cash flow. Contact us at (609) 795-2358 to learn more.

For individual taxpayers, interest expense generally can’t be deducted for federal tax purposes. But there are exception...
03/24/2026

For individual taxpayers, interest expense generally can’t be deducted for federal tax purposes. But there are exceptions. You probably know that home mortgage interest may be deductible if you itemize deductions rather than claiming the standard deduction. New for 2025 through 2028, you may be eligible to deduct up to $10,000 of car loan interest if the vehicle’s “final assembly” was in the U.S. and other requirements are met. But the deduction phases out starting at $100,000 of modified adjusted gross income ($200,000 for married couples filing jointly). Other potential interest expense deductions are student loan interest and investment interest. Contact us at (609) 795-2358 with any questions.

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners ...
03/23/2026

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners is now permanent. (It had been scheduled to expire after 2025.) This break reduces taxable income for eligible sole proprietors, partners, S corp owners and, generally, LLC members. Beginning in 2026, expanded income ranges over which certain limits phase in may allow more taxpayers to qualify for the QBI deduction, and some may enjoy larger deductions. Contact us at (609) 795-2358 to learn how you can benefit.

If you used one or more vehicles in your business during 2025, you may be eligible for valuable tax deductions on your 2...
03/19/2026

If you used one or more vehicles in your business during 2025, you may be eligible for valuable tax deductions on your 2025 income tax return. But the rules are complicated, and your deductions may be affected by factors such as the vehicle’s weight and business vs. personal use. The year you place a car, SUV, van, pickup or panel truck in service, you can choose to deduct the actual expenses (such as gas, insurance, repairs and registration fees) and depreciation attributable to your business use of the vehicle or claim the cents-per-mile deduction (with a depreciation allowance built into it). Heavier vehicles may be eligible for larger deductions. Call us at (609) 795-2358 if you have questions.

Attention, small business owners: As you wrap up your 2025 tax filings and begin planning for 2026, remember that many p...
03/18/2026

Attention, small business owners: As you wrap up your 2025 tax filings and begin planning for 2026, remember that many previously temporary tax law provisions are now permanent. And new opportunities may be available to help reduce your tax burden. If you’re ready to take a smart, strategic approach to the year ahead, we’re here to guide you. Contact us at (609) 795-2358.

Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the mo...
03/17/2026

Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they reduce your tax liability dollar for dollar (unlike deductions, which only reduce the amount of income subject to tax). Which credits might you be eligible for on your 2025 return? The child credit, credit for other dependents, child and dependent care credit, adoption credit, American Opportunity credit and Lifetime Learning credit are some of the possibilities. But various rules and income-based limits apply. We can help ensure you maximize your tax savings from these and other tax breaks you’re eligible for. Call us at (609) 795-2358.

Filing your income tax return early can help protect you from tax refund fraud, a scam in which thieves file bogus retur...
03/16/2026

Filing your income tax return early can help protect you from tax refund fraud, a scam in which thieves file bogus returns using victims’ Social Security numbers. It can cause big headaches and delay legitimate refunds. But if you file first, it will be the return filed by a potential thief that will be rejected, not yours. Call us at (609) 795-2358 to get your return preparation started.

If your business uses the accrual method of accounting and received advance payments in 2025, you may be able to defer r...
03/12/2026

If your business uses the accrual method of accounting and received advance payments in 2025, you may be able to defer reporting some or all of that income until 2026 for federal tax purposes. An advance payment is one received by a business before it provides whatever is being paid for. Examples of advance payments that may be eligible for this favorable tax treatment include payments for services, the sale of goods, gift cards, the use of intellectual property, the sale or use of computer software, warranty contracts and subscriptions. But complicated rules apply. Contact us at (609) 795-2358 for help determining if your business is eligible to defer 2025 advance payments.

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