The IRS is making it easier for taxpayers who will be making payments on a tax liability over time. Individual taxpayers who have combined liabilities for taxes, penalty, and interest less than $50,000 and businesses owing $25,000 or less for payroll taxes, penalty,...
According to the Tax Foundation, New Jersey’s property tax collections per capita are higher than any other state. Many of our clients, especially seniors, contemplate moving either to escape our cold weather or to escape our notorious property taxes. In an effort to...
In honor of the end of this year’s tax season, here’s some trivia questions for you! We can’t promise they’ll make you a hit at the next dinner party, but some of them are interesting nonetheless. How many answers do you know? The first true...
We’ve all seen the pie charts of where our federal dollars go, but I had never thought about where those dollars come from until I read an article in the Wall Street Journal last April. Would you be as surprised as I to find out that just over half of federal...
While New Jersey eliminated the estate tax in 2018, the inheritance tax is still alive and well. The New Jersey inheritance tax is a tax on inheritances left to non-lineal, Class C and Class D beneficiaries[1]. If you are a New Jersey resident and you plan on leaving...
When you think of the state of New Jersey and taxes, you usually expect them to be on the higher side relative to other states. When it comes to the “death tax” or estate taxes, New Jersey has surprisingly become more favorable over time. Many of our clients have...
