Most individuals will not have to worry about Federal Estate Taxes since the federal exemption is now $5.43 million. However, NJ Transfer tax affects the majority of NJ residents. If you are a New Jersey resident and your overall estate is more than $675,000 at the time of your death, you will be subject to… Read more »
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What is the “Fiscal Cliff”? A burgeoning federal budget with an almost $16 trillion deficit and several changes to the laws colliding all at the same time. The Bush tax cuts expiring, the implementation of the new laws from the 2011 Tax Ceiling legislation ready to go in effect (the sequestration issue with automatic budget… Read more »
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