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New Jersey Tax Law Questions & Answers
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

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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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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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 Employment Law, Real Estate Law and Tax Law for New Jersey on
Q: Does this revised law under 12 UFC 531 apply only and solely to real estate or also employer to employees?
James L. Arrasmith
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answered on Nov 9, 2023

The reference to "12 UFC 531" seems to be incorrect or a typographical error. In the context of U.S. law, "UFC" typically does not pertain to legal statutes. It's possible you're referring to a section of the U.S. Code (U.S.C.), which is a compilation of federal... View More

1 Answer | Asked in Tax Law for New Jersey on
Q: Hi I’m trying to receive my New Jersey state taxes going back a few years I sent in all w2s 90 days are up no response

Transcripts sent for the years required

James L. Arrasmith
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answered on Sep 14, 2023

If you've submitted all the necessary documents and have not received a response from the New Jersey state tax authorities, I recommend taking the following steps:

1. Contact the New Jersey Division of Taxation: Reach out to their customer service or taxpayer assistance line to inquire...
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2 Answers | Asked in Business Law, Tax Law, Estate Planning and Probate for New Jersey on
Q: If a business owner passes away and was married at the time who does the business go to if the is no will ?
Cesar Mejia Duenas
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answered on Jun 1, 2023

There are two set of rules here. First, the rules of the business entity (operating agreement, bylaws, partnership agreement, etc.), and the Florida Laws. The interest in the business entity sometimes has a transfer on-death provision. If the interest in the business passes to a certain beneficiary... View More

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3 Answers | Asked in Divorce, Tax Law and Family Law for New Jersey on
Q: In a divorce if husband has an annuity and I say you keep that and in “trade” I want the house. Why is there a 31% tax

why is the annuity taxed if it’s not being withdrawn?

Bari Weinberger
Bari Weinberger
answered on Mar 10, 2023

Thank you for your question. There is no "tax" on the annuity. What I believe you are referencing is that the "present value" of an annuity is worth less than what the annuity will ultimately pay. If you are treating assets that both have a "present value" such as bank... View More

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3 Answers | Asked in Divorce, Tax Law and Family Law for New Jersey on
Q: In a divorce if husband has an annuity and I say you keep that and in “trade” I want the house. Why is there a 31% tax

why is the annuity taxed if it’s not being withdrawn?

Richard Diamond
Richard Diamond
answered on Mar 10, 2023

Politely, you need to sit down with an experienced divorce lawyer since it appears that "someone" is doing some fast talking and you have no idea whether the claim is true or not - which means you need someone to represent you who knows how to call B...shit when such claims are made.... View More

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Q: What type of legal services would I need for an SSA IRMAA appeal administrative hearing?

I’m on permanent disability; I would like SSA to use my tax info from 2020 or 2022 as 2021 I only had high amount of taxable withdrawals from my dads Inherited IRA; used to purchase a low income affordable condo & pay taxes & additional money taken out in order to pay taxes etc. I... View More

James L. Arrasmith
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answered on Mar 4, 2023

To prepare for an SSA IRMAA appeal administrative hearing, you may want to consider seeking legal assistance from an attorney who specializes in Social Security law. They can help you present your case in the best way possible, and help you navigate the appeals process.

In addition, it may...
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1 Answer | Asked in Tax Law, Civil Rights and Landlord - Tenant for New Jersey on
Q: Can a management company of an apartment complex, demand you alter modifications made on your vehicle?
Morris Leo Greb
Morris Leo Greb
answered on Mar 21, 2023

This is a very fact sensitive situation. If the modifications result in loud noise that disturbs other reidents, the Landlord can and should demand that you remove the modification. This is pursuant to the lease provision of quiet enjoyment which imposes a duty on the landlord.

1 Answer | Asked in Foreclosure and Tax Law for New Jersey on
Q: Question about foreclosure and deficiency judgment and tax forms

My primary residence in New Jersey was foreclosed on and went to sheriff sale. The same bank held the first mortgage position and a second mortgage position on a HELOC. The foreclosure action included both mortgages in the one action. The final judgment included both mortgages as did the Writ of... View More

Liu "Margaret" Yang
Liu "Margaret" Yang
answered on Feb 7, 2023

The 1099A is not the same as a deficiency. After foreclosure, I always recommend that income taxes are prepared by an accountant to protect you.

2 Answers | Asked in Foreclosure, Real Estate Law and Tax Law for New Jersey on
Q: My mortgage company (with escrow) did not pay my property taxes and property was sold at tax sale. What is my recourse?

My original loan provided paid taxes on both lots listed on the deed. A third party then bought my loan and in the escrow account they only paid taxes on one of the lots on my property. The other lot went unpaid for a year and then was sold at a tax sale.

I understand I have a redemption... View More

Morris Leo Greb
Morris Leo Greb
answered on Nov 23, 2022

Speak to a real estate attorney to discuss what action you might pursue.

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1 Answer | Asked in Tax Law for New Jersey on
Q: is a lien holder responsible to pay abandoned property fees on a property they currently hold a lien on?

if not, can the town put the fees on the account as special charges

Leonard R. Boyer
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answered on Aug 20, 2022

There is no clear cut answer to your question.

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