TestAs 2022 comes to a close, it is important to know the advantages of certain tax planning strategies. Following a brief overview of how the federal gift and estate tax system works, this article presents five year-end tax planning strategies for 2022.1 Understanding the “Lifetime Exemption” in 2022: The Amount […]
Understanding the Importance for Planning of your Future and your Beneficiaries’ Needs We all know the saying, “There are two things in life that are unavoidable: death and taxes.” But what about death taxes? Prior to 2018, New Jersey residents often used the terms “estate tax” and “inheritance tax” interchangeably […]
On June 30, 2020, the New Jersey Supreme Court reversed the Appellate Division in Gourmet Dining, LLC v. Union Township (A-8-19), finding that a high-end for-profit restaurant located on the Kean University campus did not qualify for a local tax exemption. Applicable Tax Statutes The Supreme Court discussed the applicability […]
On March 27, 2020, the President signed the $2 trillion stimulus package as part of the third phase of the federal government’s response to the COVID-19 pandemic. The “Coronavirus Aid, Relief, and Economic Act” or “CARES Act” includes cash relief for individuals, lending to small businesses and relief for certain […]
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