Tag Archives: New Jersey

529 Contributions

Today TaxMama hears from Rick in New Jersey with this stroke of genius. “I am a salaried employee for ABC company and will be doing a separate consulting engagement for another company in my spare time. I’d like to take the entire $55,000 I will earn and put it directly into a 529 college plan […]

IPO profits

Today TaxMama hears from Sam in New Jersey with this question. “My company did an IPO this year and I will quadruple my income based on my sale of stocks. These were options I exercised years ago, before the IPO. The exercise price was 1/20th of the sales price. How do I minimize my taxes […]

Ask TaxMama Issue 521 – A Sweet New Year

Dear Family, Well, we survived another deadline. Tuesday was the final filing date for corporations. We’re used to that. No problem. But IRS also made that the new filing deadline for partnerships, trusts, estates and any other pass-through entity you could imagine. Suddenly, all the entities we used to be able to do when we […]

NJ Executors Fee

Today TaxMama hears from Barbara in New Jersey, who says. “I am the executor of my mother’s estate in NJ. I would like to take the executor’s fee that I am entitled to. I am trying to find out if her home that was just sold is considered an estate asset (that I can include […]

North Fork CP 2000s

Today TaxMama hears from Stanley in New Jersey, with a universal problem. “Those people who had North Fork Bank accounts in 2007 received a 1099-INT showing North Fork as the payer. Capital One acquired North Fork Bank as of 3/10/2008. It appears Capital One modified their records to show they were the payer of interest […]

Married Son’s Insurance

Today TaxMama hears from Mike in New Jersey with this question. “Can I deduct my son’s health Insurance premium of $900 a month that his wife and he can no longer afford to pay, on my tax return?”

Two Friends own House

Today TaxMama hears from Bill in New Jersey, with this story. “ I am living with my girlfriend. We both work and bought a house together in July of 2008. We can both use the mortgage interest write offs on our taxes. Is it possible to simply take the total interest we paid last year […]

Who Did I Work For?

Today TaxMama hears from Bryan in New Jersey, who says. “I lost my W-2’s for a couple of years. I didn’t get a chance too file because of a nasty divorce. How do I get copies of these W-2’s, since most of these employers are out of business; or I just plain forgot who I […]

Ask TaxMama Issue 483 – Thank Goodness I am not a Turkey

http://taxquips.com/index.php?cat=MoneyFunnies Our Job Advice of the Week encourages you not to stress too much about your interview. There are other jobs, after all. http://taxquips.com/index.php?cat=IRSNews We’ll keep pointing you to http://taxquips.com/index.php?cat=TaxQuips As always, we love your feedback, opinions and ideas. You are what makes all this fun – and interesting! Please use the Comments link online. […]

Ask TaxMama Issue 482 – Rocky and Bullwinkle

New Jersey Exit Tax

Today TaxMama hears from Harvey in New Jersey who tells us. “I am a Senior Citizen & semi-retired. Thinking of leaving the state of NJ. I heard there is a state exit tax. Is this correct?” Dear Harvey, Whew, federal & California taxes are big enough areas for me to keep up with, without learning […]