Resources

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 […]

While most of the press has focused on the income tax changes resulting from the Tax Cuts and Jobs Act of 2017 (TCJA), the changes relating to the federal estate and gift tax seemed to have received little attention. That is unfortunate as the changes are significant.  TCJA substantially increased […]

529 Plans – An Overview Since 1996, the Internal Revenue Code has provided favorable tax treatment for investment accounts, known as 529 Plans, which are designed to pay for higher education.  Pursuant to the 2017 Tax Cuts and Jobs Act (the “Act”), the rules governing the treatment of these plans […]