Thursday, January 31, 2013
Townships wouldn't have to pay county, school and fire district property taxes.
Thursday, January 31
Bipartisan legislation sponsored by Assemblywoman Holly Schepisi, R-Bergen and Passaic, and Assemblyman Jack Ciattarelli, R-Somerset, Hunterdon, Mercer and Middlesex, that would exempt flood-prone properties acquired by municipalities from county, school and fire district property taxes for the following tax year, was approved by the General Assembly on Monday. Under current law, if a municipality acquires such a property after October 1, it must pay the county, school, and fire district property taxes owed for all or the remainder of the following tax year. “The flooding caused by Superstorm Sandy last year and the devastation witnessed in 2011 by Hurricane Irene and Tropical Storm Lee has increased the awareness of towns that …
Friday, January 18, 2013
January 15 will be the first paycheck of 2013 for many workers. Did you notice the higher taxes you're now paying?
This year, the 15th of January isn't just halfway through the first month of the year. For many people who are paid twice a month, the 15th will be their first paycheck of the New Year - and the first check they've gotten since the end of the FICA tax holiday. Remember the Fiscal Cliff? Part of the battle between President Obama and the Republican Congress included whether the employee's share of that temporary tax reduction would be allowed to lapse, and thus hike taxes on middle-class workers. The Fiscal Cliff resolution wound up including the expiration of a 2 percent Social Security temporary tax reduction, the result of which is now reflected in everyone's paycheck. Now, the employee's share of FICA tax is 6.2 percent, up from the 4.2…
Tuesday, January 15, 2013
Township saw a higher percentage tax increase for 2012 than the state average.
Homeowners in Cranford are paying both higher property taxes than the statewide and Union County averages, according to a statewide chart published by the Star-Ledger. The average total Cranford tax bill comes in at $9,903.70, higher than Clark's $9,209.86. The statewide average tax bill came in at $7,870.28, while Union County averages $9,515.09 The statewide average property tax increase was 1.7 percent for 2012, the smallest bump in more than two decades, and Cranford residents saw a 3.6 percent tax increase for 2012. Across Union County, the average percent increase for 2012 was 2.1 percent. Mountainside had the highest percentage increase for 2012 (5.6 percent), while Winfield had the biggest decrease for 2012 (-0.8 percent). …
Thursday, May 17, 2012
Christie also addresses video parody with Newark mayor during his East Hanover meeting.
The focus of Gov. Chris Christie's 79th Town Hall meeting this week was the governor's proposed 10 percent, across-the-board tax cuts. Christie, speaking at the East Hanover Fire Department, said he's determined to deliver the tax break New Jersey residents have been waiting for. “The people of New Jersey haven’t had a tax cut in over a decade," he said. "You’ve made the sacrifices that were necessary to step up and help me balance this budget, and I want to give you some of your money back to spend on your family, not to spend in Trenton." Christie looks to accomplish this despite some opposition across county lines. According to Christie, two of those opposing the proposal in particular—Assembly Majority Leader Lou Greenwald (D-Camden) …
Tuesday, April 3, 2012
The N.J. Senate President tells a town-hall meeting crowd that the governor's plan is "too complicated" and doesn't help middle-class taxpayers.
Gov. Chris Christie says that he and state Senate President Stephen Sweeney agree on property-tax relief. Sweeney told a town-hall audiences Monday night that they shouldn't believe the governor. The Democrat spent much of the town hall distancing himself from Christie, saying that the governor’s tax relief plan is too complicated and focuses more on helping wealthy New Jersey taxpayers, not the middle class. Christie touts “an income tax plan where 95 percent of the money goes to the wealthy,” Sweeney said. “My plan, the Senate plan, all of the money goes to the middle class because it’s capped at $250,000 (annual income).” Sweeney hosted the town hall at Camden County College to promote his plan with fellow Democrats, state Senators Fred…
Wednesday, March 14, 2012
Taxpayers are on the hook for falsehoods on their returns no matter who prepares them.
Representatives from the Internal Revenue’s Springfield Office have shared recommendations for New Jersey Taxpayers. In a press release, IRS Criminal Investigation Acting Special Agent in Charge of the Newark Field Office, JoAnn Zuniga advised caution for people selecting a return preparer, noting that the taxpayers are accountable for falsehoods on their tax forms regardless of who prepared it. “Knowingly falsifying documents filed with the IRS is a crime,” Zuniga said in the release. Dishonest return preparers use a variety of methods to cheat the government. It is your responsibility to know what is on your income tax return. You are ultimately responsible for what gets filed with the IRS.” Zuniga said fraudulent preparers claim …