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Tax Planning

IRS Automatic Penalty Relief announcement graphic featuring the Internal Revenue Service building and Schulman Lobel Tax, Audit & Advisory.

Could You Qualify for the IRS's New Automatic Penalty Relief? Here's What Taxpayers Need to Know

The IRS has introduced Automatic Penalty Relief (AEP), a new initiative that automatically removes certain tax penalties for eligible taxpayers with a strong compliance history. Learn who qualifies, when the new rules take effect, and what they mean for you.

9 hours ago2 min read

Section 179 vehicle tax deduction strategy showing a qualifying business SUV and key tax-saving opportunities available to business owners in 2025.

Section 179 Vehicle Tax Deduction: How Business Owners Can Maximize Tax Savings in 2026

A qualifying business vehicle could unlock substantial first-year tax savings. Learn how the Section 179 vehicle tax deduction and bonus depreciation rules can help business owners maximize deductions and improve cash flow.

Jun 114 min read

Relocating to a low-tax state and establishing tax residency while avoiding costly state residency audits for high-net-worth individuals and business owners.

Relocating to a Low-Tax State: How to Establish Tax Residency and Avoid Costly Audits

Relocating to a low-tax state can create substantial tax savings, but only when residency rules are properly followed. Learn how domicile, statutory residency tests, and state audits can impact high-net-worth individuals, business owners, and family offices.

Jun 114 min read

Residential homes in New Jersey with rooftop solar panels, highlighting solar tax credits and clean energy incentive opportunities.

Solar Tax Credits Remain Available Under OBBBA: Key Deadlines and Opportunities for Solar tax credits for New Jersey taxpayers

The One Big Beautiful Bill Act preserves valuable solar tax credits while establishing new deadlines for qualifying projects. Learn how New Jersey taxpayers and businesses can take advantage of available federal and state incentives before key opportunities expire.

Jun 34 min read

Trump Account illustration showing a $1,000 government contribution program for eligible children under the One Big Beautiful Bill Act.

Is Your Child Eligible for a $1,000 Trump Account? Here's How It Works.

The One Big Beautiful Bill Act created Trump Accounts, including a potential $1,000 government contribution for eligible children born between 2025 and 2028. Learn who qualifies, contribution limits, investment rules, and key considerations for families.

May 283 min read