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New Jersey Tax Law Questions & Answers
1 Answer | Asked in Foreclosure and Tax Law for New Jersey on
Q: Is foreclosure legal after tax certificate redemption before filing?

I received a notice from a tax lien holder's lawyer with a 30-day deadline to redeem a tax certificate or face foreclosure. I redeemed the certificate at the tax collector's office within 24 days and received a receipt, but this was after the 2-year redemption period had ended. However,... View More

Leonard R. Boyer
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answered on Mar 9, 2025

Unless you have a consultation with an experienced mortgage foreclosure defense attorney, it is impossible to know if you are correctly stating what the legal pleading you received actually is. If the two year redemption period has ended then it was too late to redeem the tax lien certificate.... View More

1 Answer | Asked in Tax Law for New Jersey on
Q: For nonprofits, is there any special tax procedure in regard to very high-value In-kind donations?

I own a nonprofit and a friend of mine will be donating 4 paintings he made that are worth over 50k, and he's choosing not to deduct them. I know to put this under schedule M of the 990, but because he's choosing not to deduct them, I'm not sure if I should go get them appraised or... View More

James L. Arrasmith
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answered on May 5, 2024

For nonprofits receiving high-value non-cash (in-kind) donations, there are some special considerations and procedures to follow:

1. Acknowledgment: The nonprofit should provide a written acknowledgment to the donor, describing the donated property and specifying whether any goods or...
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1 Answer | Asked in Tax Law for New Jersey on
Q: How Do You Account For Art As A Nonprofit If The Donor Chooses Not To Deduct It?

I own a nonprofit and a friend of mine will be donating 4 paintings he made that are worth over 50k, and he's choosing not to deduct them. I know to put this under schedule M of the 990, but because he's choosing not to deduct them, I'm not sure if I should go get them appraised or... View More

James L. Arrasmith
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answered on May 5, 2024

Even if the donor chooses not to claim a tax deduction for the donated artwork, it's still a good practice for your nonprofit to properly document and record the donation. Here's what you should consider:

1. Acknowledgment: Provide the donor with a written acknowledgment of the...
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1 Answer | Asked in Tax Law for New Jersey on
Q: Tax Filing as F-1 Student

I am F-1 student in the US since 2022. I have been working full time on my CPT. While filing my returns, what occupation should I put? Please guide in this regards. Thank you!

James L. Arrasmith
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answered on Apr 13, 2024

As an F-1 student working on Curricular Practical Training (CPT), your occupation for tax purposes should reflect the nature of your work rather than your student status. Here's what you should consider:

1. Occupation: Choose the occupation that best describes the work you performed...
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2 Answers | Asked in Tax Law for New Jersey on
Q: What is "NJ-sourced income"? Income from NJ companies? Income earned when I am physically in NJ, regardless of employer?

I am a US citizen living and working in Ireland, but my US home is in Texas. Sometimes I have work travel to NJ for conferences, labs, etc. I am not and have never been a resident of NJ. My employer is a European company. I do not receive separate income from anyone in NJ when I travel there.... View More

Benjamin A. Goldburd
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Benjamin A. Goldburd
answered on Apr 4, 2024

New Jersey Sourced income is such that is earned or from a source in the State of New Jersey (working in the State, making sales inside the State, or the sale of property in the State to name a few). Your question requires more facts. The likelihood is if there is any sourced income in NJ it would... View More

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2 Answers | Asked in Tax Law for New Jersey on
Q: What is "NJ-sourced income"? Income from NJ companies? Income earned when I am physically in NJ, regardless of employer?

I am a US citizen living and working in Ireland, but my US home is in Texas. Sometimes I have work travel to NJ for conferences, labs, etc. I am not and have never been a resident of NJ. My employer is a European company. I do not receive separate income from anyone in NJ when I travel there.... View More

James L. Arrasmith
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answered on Mar 30, 2024

"NJ-sourced income" refers to income that is earned or derived from sources within the state of New Jersey, regardless of where the taxpayer resides. This can include income from employment, business activities, or property located in New Jersey.

In your case, if you are...
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1 Answer | Asked in Tax Law and Immigration Law for New Jersey on
Q: Filing tax returns as F-1

As the end date is getting closer, I am wondering that what option should I select in my marital status? I have been to US since 2022 as an international student and working on CPT. I am married but my spouse never been to US. She is in home country. In this context, should I select... View More

James L. Arrasmith
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answered on Mar 29, 2024

When it comes to filing your tax returns in the United States on an F-1 visa, your marital status plays a crucial role in determining how you should file. Since you're married, but your spouse has never been to the U.S. and presumably doesn't have income subject to U.S. tax laws, you face... View More

1 Answer | Asked in Social Security, Tax Law and Gov & Administrative Law for New Jersey on
Q: Can I keep my maiden name on W-2 if my name on passport and SSA has changed

I have 2 last names as I recently added my husband’s last name to mine . So now my last name is composed of 2 last nabes without hyphen. Can I continue to use my maiden name first last name at work and hence on W-2? What’s the way to retain maiden name professionally?

James L. Arrasmith
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answered on Mar 25, 2024

If your name has legally changed and is updated on your passport and with the Social Security Administration (SSA), it is generally recommended to update your name at work to ensure consistency across all official documents and systems. This includes having your new name reflected on your W-2 form,... View More

2 Answers | Asked in Tax Law for New Jersey on
Q: Non relative Canadian Citizen wants to gift funds for my son college tuition. Are there tax implications on our end

My son is a US citizen. Do we pay any taxes on our end. Probably around 40k gifted.

James L. Arrasmith
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answered on Mar 22, 2024

When a non-relative Canadian citizen gifts funds for your son's college tuition, and your son is a US citizen, the tax implications primarily concern the donor, not the recipient. In the United States, gift recipients do not generally have to pay taxes on gifts received, no matter the amount... View More

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1 Answer | Asked in Business Formation, Education Law and Tax Law for New Jersey on
Q: I am the owner of a private school in NJ. I am considering changing its filing status from an LLC to a 501c3 nonprofit.

Is this possible in NJ? And if so, what are the initial steps that I should be considering?

James L. Arrasmith
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answered on Mar 1, 2024

Here are the key things to consider when changing a private school in New Jersey from an LLC to a 501(c)(3) nonprofit:

- It is possible to make this change in NJ. You would need to dissolve the LLC and then incorporate as a new nonprofit entity.

- To qualify as a 501(c)(3), the...
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1 Answer | Asked in Family Law, Tax Law, Municipal Law and Real Estate Law for New Jersey on
Q: How do property taxes work on unregistered houses on one piece of land in Puerto Rico through inheritance?

My grandfather has past away leaving my grandmother as sole owner of the land with the main house being registered and current with property taxes. There are three siblings my mother, a middle brother (who sadly also past), and a younger brother. The younger brother convinced my grandfather when he... View More

James L. Arrasmith
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answered on Feb 28, 2024

In Puerto Rico, property taxes are assessed by the Municipal Revenue Collections Center (CRIM). When a house on a piece of land isn't registered with CRIM, it can indeed lead to complications, including the potential for back taxes once the property is properly reported. Given that your... View More

1 Answer | Asked in Gov & Administrative Law and Tax Law for New Jersey on
Q: The IRS sent me a letter stating I didn't report income from a 1099c. Upon my investigation on the matter I found out

The 1099c was sent to an old Address from 13 years ago and in my maiden name. How can I be penalized for information I never recieved?

James L. Arrasmith
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answered on Feb 28, 2024

When you receive a letter from the IRS stating that you didn't report income from a 1099-C, it's important to address the issue promptly, even if the information was sent to an outdated address and in a name you no longer use. The IRS assesses taxes based on income information reported to... View More

1 Answer | Asked in Tax Law for New Jersey on
Q: Broker acct is joint and 1 dies is only 1/2 stepped up basis Can advisor fees be withheld from RMD to avoid est taxes

Looking to pay advisor fees with pre tax money if OK and gain interest over the year by avoiding est taxes for fed and state.

James L. Arrasmith
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answered on Feb 25, 2024

Yes, it is possible to pay financial advisor fees from an IRA account in order to reduce taxable required minimum distributions (RMDs). This can allow the fees to be paid using pre-tax funds and can minimize taxes owed. Here are some key points:

- For a joint brokerage account, when the...
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1 Answer | Asked in Estate Planning and Tax Law for New Jersey on
Q: Is an Arizona revocable trust valid in New Jersey for tax purposes?

I created a revocable trust in Arizona in 2019, and I am now a resident of New Jersey with no change in residency since its creation. My main concern is whether this trust remains valid in New Jersey, especially for tax purposes, and if there are any implications or actions needed to ensure its... View More

James L. Arrasmith
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answered on Apr 12, 2025

Your revocable trust created in Arizona should remain valid in New Jersey, as long as it was properly established in accordance with Arizona laws. The primary concern is whether your trust complies with New Jersey's tax rules, particularly regarding how it treats income, property, and estate... View More

1 Answer | Asked in Tax Law for New Jersey on
Q: Can I file a 2022 NJ tax return for a refund without late penalty if I wasn't required to file?

I was not required to file a tax return for New Jersey in 2022 due to my income level. I have not received any communication from New Jersey tax authorities about filing a return. I realized a few months ago that I might be eligible for a refund. Can I file my return now to claim a refund without... View More

James L. Arrasmith
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answered on Apr 12, 2025

Yes, you can file your 2022 New Jersey tax return now to claim a refund without incurring a late filing penalty. Since you were not required to file a return due to your income level, and no tax was due, there is no penalty for filing late when seeking a refund. New Jersey law allows taxpayers to... View More

1 Answer | Asked in Tax Law and Real Estate Law for New Jersey on
Q: What does removed taxation board judgment mean?

In 2021, I received a judgment from the taxation board regarding the assessment of my property. Recently, the tax assessor informed me that this judgment has been removed. There was no explanation provided, and there are no pending appeals or disputes related to this assessment. What does it mean... View More

James L. Arrasmith
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answered on Apr 12, 2025

When a taxation board judgment is removed, it usually means that the ruling or decision made by the board regarding the property assessment has been reversed, vacated, or no longer applies. This could happen for several reasons, such as a settlement, an administrative error, or a decision by the... View More

2 Answers | Asked in Tax Law, Social Security, Business Formation, Public Benefits and Business Law for New Jersey on
Q: What to do about not filing income taxes for three years in NJ?

I have not filed my income taxes for the past three years due to personal circumstances, including dealing with addiction and caring for my ill wife. I collect Social Security benefits and have a small business but have kept no records of income or expenses. I have received notices from the IRS... View More

Leonard R. Boyer
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answered on Mar 26, 2025

You need to retain either an experienced tax law attorney or a CPA who practices tax accounting. You have a reasonable explanation for why you did not file. Either the attorney or CPA can work out an offer and compromise. I do not think there will be any problem to work an offer and compromise with... View More

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1 Answer | Asked in Foreclosure, Tax Law, Real Estate Law and Consumer Law for New Jersey on
Q: Can a lien holder charge a foreclosure fee if property isn't in foreclosure?

I had a tax lien on my property, and the lien holder sent me a notice to pay within 30 days to avoid foreclosure. I paid before the deadline and have proof of the payment date, but the lien holder charged me a foreclosure fee anyway, which was added to the redemption amount at the tax office. The... View More

Leonard R. Boyer
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answered on Mar 4, 2025

No! That is not a valid charge. You need to consult an experienced mortgage foreclosure defense attorney and have the entire loan record. Good luck.

1 Answer | Asked in Divorce, Real Estate Law and Tax Law for New Jersey on
Q: Can my ex husband's future creditors put a lien on our former home that is in my name only?

If my ex husband is taken off the deed to the house in our divorce, but the agreement reads he is entitled to a portion of the proceeds if and when i decide to sell, can a lien be put on the house in the future from his creditors?

Anthony M. Avery
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answered on Jan 23, 2025

If there is no deed recorded from him to you, then both it. The divorce has nothing to do with third parties. Creditors could get a judgment against him, then collect against any asset he has including the divorce term to share in sale proceeds without a filed judgment lien.

2 Answers | Asked in Tax Law for New Jersey on
Q: does the extra 20% trustee commission in NJ have to be split if there are 2 trustees
Leonard R. Boyer
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answered on Jan 21, 2025

No one can understand what you are talking about. You put this under Tax Law, but without more facts, this does not make any sense.

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