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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.

Developing Leadership in Healthcare

Developing Leadership in Healthcare

Who really cares anymore? It seems like we are always asking this question in this day and age, whether it be at work, at home, everywhere! In healthcare, this question cannot go unanswered because it will be the patient who will suffer. There is a common...

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Taxation of Crowdfunding

Taxation of Crowdfunding

Crowdfunding was created to kick-start the funding of a project. Previously if someone was interested in acquiring funds, they had only a few options to do so. Those options included: raising money from family and friends, taking out a loan, or trying to gather all of...

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New Jersey Relief for Costs of Higher Education

New Jersey Relief for Costs of Higher Education

Beginning in 2022, there is good news for taxpayers who pay some student loans and/or tuition. The New Jersey College Affordability Act allows for three income tax deductions on New Jersey returns that are related to education. The caveat is that the gross income...

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Stock Market Decline: Should I Sell?

Stock Market Decline: Should I Sell?

2022 is off to a rocky start for investing with the S&P 500 index down over 20% at one point from its peak. Tech stocks have been hit particularly hard with the average NASDAQ stock down 50% from its high. With the consistent decline in the stock market this year,...

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