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More from New Jersey…

Nov 10, 2022 | News

New Insurance Requirement

As of November 3, 2022, landlords and business owners in New Jersey are required to carry $500,000 in liability insurance for deaths or bodily injuries that may occur at their properties. For small, multifamily rental properties that are owner-occupied, the minimum liability insurance is $300,000.  Proof of compliance is supposed to be provided annually to the municipality in which the business or property is located, but the bill does not specify how that is to be accomplished.

Bye-Bye Homestead Rebate, Hello Anchor Program

New Jersey replaced the popular Homestead Rebate program with the Anchor Program.  A resident who owned or rented a principal residence on October 1, 2019 with income under the statutory limit can apply for this benefit by December 30, 2022.  Application can be online(https://www1.state.nj.us/TYTR_Saver/jsp/common/HBWelcome.jsp ), by telephone (877-658-2972), or with a paper application, available for homeowners with instructions at https://www.state.nj.us/treasury/taxation/pdf/anchor/anchor-h.pdf.  You will need your 2019 income information to file.

Credit Card Surcharges

Credit Card Surcharges

The first time I became aware of a seller trying to defray the cost of credit card fees was some years ago when I was purchasing gas and saw that at this particular station the price was less when the payment was in cash.  For many years in my universe that price...

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The Future of AI Technologies in Accounting

The Future of AI Technologies in Accounting

Merriam-Webster dictionary defines artificial intelligence (AI) as the capability of computer systems or algorithms to imitate intelligent human behavior.  A secondary definition is a branch of computer science dealing with the simulation of intelligent behavior in...

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