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About Ciccone, Gotthold & Koseff

CICCONE, GOTTHOLD & KOSEFF, CPA’S are experienced accounting professionals trained by the largest and most experienced accounting firms. Located in Ocean County, New Jersey, the CGK partners are certified public accountants with advanced degrees and certifications who are well versed in the most up to date Federal and State tax laws, giving you the confidence that they can handle the complex issues facing most taxpayers today.

6 Must-Dos When You Donate To Charity

Donations are a great way to give to a deserving charity, and they also give back in the form of a tax deduction. Unfortunately, charitable donations are under scrutiny by the IRS, and many donations without adequate documentation are being rejected. Here are six things you need to do to ensure your charitable donation will [...]

November 21st, 2017|

Business Tax: Time to Consider Section 179?

Section 179 expensing can be a very powerful tax-planning tool for small- and medium-sized businesses acquiring capital assets. While it doesn't change the amount of depreciation you can take over the life of capital purchase, it can change the timing by allowing you to deduct your purchase in the first year you place it in [...]

October 30th, 2017|

How to Fix Your Overfunded Retirement Account

Is socking away large sums in a tax-deferred retirement account ever a bad idea? It is when you exceed the annual IRS limits. And intentional or not, the penalties can be painful. Here's how overfunding occurs and what steps to take to fix an overfunded retirement account. When do overfunding situations occur? Overfunding retirement accounts [...]

October 23rd, 2017|

Renew Your ITIN Now

If you have an Individual Taxpayer Identification Number (ITIN) rather than a Social Security number (SSN) you may need to take action or you'll be unable to file a tax return for 2017. What to know about ITINs ITINs are identification numbers issued by the U.S. government for individuals who do not qualify to receive an SSN. An ITIN [...]

October 16th, 2017|

5 Tax-Loss Harvesting Tips

Though the markets have been up strongly this year, your investment portfolio may have a few lemons in it. By using the tax strategy of tax-loss harvesting, you may be able to turn those lemons into lemonade. Here are some tips: Tip #1: Separate short-term and long-term assets. Your assets can be divided into short-term and [...]

October 9th, 2017|

Know Your Rights When Debt Collectors Call

At some point you may be on the receiving end of a debt collectors call. It could happen any time you are behind on paying your bills or when there is an error in billing. In the U.S. there are strict rules in place that forbid any kind of harassment. If you know your rights, [...]

October 4th, 2017|

Contractor or Employee?

Is a worker an independent contractor or employee? This seemingly simple question is often the contentious subject of numerous IRS audits. As an employer, getting this wrong could cost you plenty in the way of Social Security, Medicare and other employment-related taxes. Here is what you need to know. As the worker If you are [...]

September 26th, 2017|

Avoid These Common Tax Mistakes

There are nearly 1,000 different tax forms used by the IRS to report tax obligations. It's no wonder the IRS faces thousands of tax returns with errors each year. Here are some of the most common tax mistakes: Wrong names and Social Security numbers. Taxpayers regularly make common tax mistakes by entering incorrect information for their [...]

September 18th, 2017|

Business Planning: The Hourglass Approach

When it comes to annual business planning, businesses often spend too much time on the planning process or too little because they are busy with day-to-day operations. There's simple method called the "Hourglass Approach" that can help you efficiently focus on your goals and create a plan to achieve them. Top of the glass In [...]

September 16th, 2017|

Say Goodbye to the College Tuition Tax Deduction

It's hard enough to watch your child leave for college. Now you also have to say goodbye to the college tuition tax deduction for tuition and fees. Congress decided not to extend this $4,000 deduction for 2017, leaving many parents worried that college will now be more expensive. But it isn't as bad as it [...]

September 5th, 2017|