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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.

The World of Higher Education in 2023

The World of Higher Education in 2023

A 2023 national survey revealed a shift in public opinion over the past decade about the value of a college degree: 56% of Americans think a four-year college degree is not worth the cost due to students graduating with significant debt and a lack of specific job...

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The Taxpayer Advocate

The Taxpayer Advocate

The Office of the Taxpayer Ombudsman was created by the Internal Revenue Service in 1979 to be the primary advocate for taxpayers with the IRS. This function was replaced in 1996 by the Office of the Taxpayer Advocate. The mission of this division of the IRS is to...

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New Jersey and You: Perfect together?

New Jersey and You: Perfect together?

On a recent visit to the website of the Tax Foundation, I was taken aback, but not surprised, to read “New Jersey’s tax system ranks 50th overall on our 2023 State Business Tax Climate Index”.  This Index is designed to show how well states structure their tax systems...

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Need to Make Payments to the IRS? You Have Options.

Need to Make Payments to the IRS? You Have Options.

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,...

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