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Tag: State tax

Action Required: New Jersey Estate Tax is Repealed

24 October, 2016

Earlier this month, on October 14, 2016, New Jersey Governor Chris Christie signed into law that increased the NJ Estate Tax exemption from $675,000 to $2 million for deaths in 2017, and fully eliminated the

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Uncertainty About The Future Of The Gift And Estate Tax Laws Will Continue

26 December, 2012

Even if Congress acts to avoid the “Fiscal Cliff,” uncertainty about the future of the gift and estate tax laws will continue. Despite this uncertainty, meaningful estate planning goals can be achieved. Estate planning is

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Tax Planning Opportunities for Business Owners

3 November, 2012

Unless Congress acts quickly, taxes are going up!  Although major tax law changes are set to take place in 2013, there are some planning opportunities for business owners: Tax Provisions Which May Impact Planning Opportunities ■      

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A limited opportunity for generous gift tax exclusions

7 April, 2012

The 2010 Tax Act is scheduled to expire on Dec. 31, 2012, at which time under current law the opportunities afforded under the 2010 Act will be lost. This article explores various tax planning opportunities

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Foreign bank account reports (FBARs) and the 2011 Offshore Voluntary Disclosure Initiative (2011 OVDI)

11 April, 2011

Foreign bank account reports (FBARs) for 2010 are due on June 30, 2011 (and no extension is available). Recent guidance provides insight into who is required to file an FBAR and what is considered to

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Probate of Estates in New Jersey

13 February, 2011

Estate administration in New Jersey is the process by which a deceased person’s property, known as the ‘estate,’ is passed to his or her heirs and legatees (people named in the will). Estate administration encompasses

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Still Beware of State Death Taxes…

9 January, 2011

Despite the new and generous federal estate tax exemption of $5 million per estate and $10 million per couple, many less wealthy families still have to plan for estate taxes–state estate taxes that is. The

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Pennsylvania’s 2010 Tax Amnesty Program

5 February, 2010

Our firm recently successfully filed several client's state amnesty applications.

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New York Penalty and Interest Discount (PAID) program

2 February, 2010

In the state's press release, they mention they are increasing their enforcement efforts to collect unpaid bills.

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New Jersey State Income Taxation of 2010 Conversion of a Traditional IRA to a Roth IRA

25 January, 2010

Therefore, New Jersey also conforms to the...provision regarding the Federal Income Tax reporting of a distribution from an IRA which the taxpayer converts into a Roth IRA this year in 2010.

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Recent Posts

  • Still Waiting for Your Employee Retention Tax Credit?: ERC Refund LawsuitsMay 9, 2025
  • Parag Patel Esq. Speaks at Annual Convention of New Jersey Society of Certified Public AccountantsMarch 28, 2025
  • Parag Patel Esq. speaker at the National Association of Enrolled Agents (NAEA) Seminar “2025 Mid-Year Update”March 25, 2025
  • Navigating the Puzzle: Understanding Form 8938 Audit TriggersMarch 21, 2025
  • Navigating Inheritance: The Step-Up in Basis and Recognizing Implied Life Estates After DeathMarch 18, 2025

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