2011 NEW JERSEY REAL ESTATE TAX APPEALS
Posted by admin in Business Improvement, General Company News, Manufacturing, Real Estate, Tax, Wholesale/Distribution on February 15, 2011
Is this the year to review your real estate tax assessments?
The continued economic decline has affected everyone. In particular, New Jersey’s real estate market suffered significant declines in value. Many buildings are vacant and cannot be sold. Despite the decline, it would be a mistake to anticipate that local assessors will voluntarily reduce the assessed [...]
Cost Segregation Gets Boost From New Depreciation Rules
Posted by admin in Real Estate, Tax on January 6, 2011
Legislation passed in late December significantly changes depreciation rules for businesses. In a blog comment posted on the New Jersey Commercial Real Estate Alliance website, Hunter Group’s Scott D. Davis, JD talks about opportunities commercial property owners may now have to dramatically improve their cash position this year by performing a cost segregation study.
Read Scott’s comments [...]
Kenneth A. Hofsommer, CPA MST Joins Hunter Group Tax Team
Posted by admin in Audit, Business Improvement, Manufacturing, Real Estate, Tax, Wholesale/Distribution on January 5, 2011
Kenneth A. Hofsommer, CPA MST has joined the Fair Lawn certified public accounting firm Hunter Group as a Senior Manager in the company’s tax services group. An experienced professional with expertise in both tax and audit disciplines, Mr. Hofsommer was most recently a Senior Manager with the regional CPA firm JH Cohn LLP.
Mr. Hofsommer has [...]
Congress Delivers Unique Opportunities For Businesses and Individuals
Action items for business owners in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.
A Christmas Story…Revised For Estate and Tax Planning Purposes
Posted by admin in Business Improvement, Business Valuations, Estate Planning, Tax on December 22, 2010
T’was the week before Christmas and all through the House;
compromised Democrats turned donkey to mouse.
A tax bill extension that the Senate had passed;
was sent to Congress for its passage at last.
The Bill added two years to the Bush-era cuts;
leaving Democrats sick in their collective guts.
The President lobbied with feverous might;
with hopes that the tax cuts would make the [...]
Small Business Gets a Tax Break
Posted by admin in Business Improvement, Manufacturing, Tax, Wholesale/Distribution on October 27, 2010
Section 179 Depreciation Expanded
The government wants small businesses to make investments in equipment to help jumpstart the economy and create new jobs. To make this happen, the President recently signed into law the Small Business Job Act of 2010. An important component of the legislation is a temporary increase in the dollar limits for accelerated [...]
Property Appeals Impact NJ Towns
Posted by admin in Audit, Business Improvement, Family Business, Real Estate, Tax, Wholesale/Distribution on October 15, 2010
The Star Ledger newspaper recently revealed the effect that tax appeals are beginning to have on local New Jersey towns as unsold homes and empty business and industrial properties find few takers and tougher mortgage requirements hindering dealmaking. According to the story, appeals are up 44% over the prior year: http://www.nj.com/news/index.ssf/2010/10/nj_towns_cities_face_spike_in.html
Even so, property managers and [...]
Unlock Tax Savings With Cost Segregation
Posted by lfeld in Business Improvement, Real Estate, Tax on July 15, 2010
Commercial building owners need every tax advantage possible today. If you have never looked into having a cost segregation study performed, you may be missing out on a substantial opportunity to accelerate depreciation and save tax dollars. To read Hunter Group tax expert Scott Davis’s comments, check out this recent article posted on the NJCREA [...]
Tax Liens Can Be Withdrawn
Like mother nature, it is not wise to play with the IRS. If you owe tax, avoiding this very powerful governmental agency is ill advised. A recent Experts question had a reader concerned about how best to pay a lien without impact to their credit score. As our Hunter Group tax expert relates, there are [...]
For Business Partnership, Personal Bankruptcy Spells Trouble For All
Posted by lfeld in Business Valuations, Family Business, Litigation Matters, Tax on July 14, 2010
A recent inquiry from the Experts column seemed as though it was fairly straight forward. Two partners owned a struggling business. For some reason, one of the partners was declaring personal bankruptcy. The other partner, innocently enough, was inquiring as to how he could buy out his partner, and what were the issues.
Well, as you [...]
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