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NJ CPA’s Point Out the Obvious Disincentives with Murphy Administrations Anti-Business Corporate Surcharge

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the staff of the Ridgewood blog

Roseland NJ, this afternoon, Governor Phil Murphy delivered his budget proposal for New Jersey’s 2025 fiscal year which begins July 1. After months of reassuring the state’s business community that he would let the 2.5% Corporation Business Tax (CBT) surcharge expire, he has proposed reinstating it and returning New Jersey to its status as an extreme outlier for business taxes.

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Small Business Association Blasts Governor Murphy and Trenton Democrats on Latest Tax Increase Push

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the staff of the Ridgewood blog

Trenton NJ, the National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association, released the following statement by State Director Eileen Kean in response to Gov. Phil Murphy’s new budget message.

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What You Need to Know About Running an Offshore Company?

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Running an offshore company can be an attractive option for entrepreneurs looking to expand their business horizons. The prospect of favorable tax policies, privacy provisions, and access to global markets make offshore jurisdictions appealing.

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New Jersey Is 2024’s State with the Highest Real-Estate Property Taxes

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the staff of the Ridgewood blog

Ridgewood NJ, Each year, the average American household spends $2,869 on real-estate property taxes plus another $448 for residents of the 26 states with vehicle property taxes.

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New Jersey Is the State with the 2nd Worst Unemployment Rate Change

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  • the staff of the Ridgewood blog

Trenton NJ, with the U.S. having gained 216,000 jobs in December, WalletHub today released updated rankings for its report on Changes in Unemployment Rate by State, along with a WalletHub Q&A.

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Tax Relief for American Families and Workers Act of 2024: What does it Mean for You?

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the staff of the Ridgewood  blog

Washington DC, on January 16, 2024, the websites of the United States Senate Committee on Finance and the United States House Committee on Ways and Means, Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.) jointly announced “a commonsense, bipartisan, bicameral tax framework that promotes the financial security of working families, boosts growth and American competitiveness, and strengthens communities and Main Street businesses.”

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New Jersey Set to Raise Minimum Wage January 1, 2024

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the staff of the Ridgewood blog

Trenton NJ, New Jersey is set to become one of a handful of states with a minimum wage of at least $15/hour on January 1, 2024 when the rate increases to $15.13/hour, surpassing the goal set by Governor Murphy and the Legislature in 2019.

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Census Bureau Data: Escape From New York

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the staff of the Ridgewood blog

New York NY, if you define insanity as repeating the same actions and expecting different outcomes, then New York politicians appear to be candidates for an asylum.

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NFIB’s Small Business Optimism Index remains below the 50-year Average for the 23rd Consecutive Month

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the staff of the Ridgewood blog

Ridgewood NJ, NFIB’s Small Business Optimism Index decreased 0.1 point in November to 90.6, which marks the 23rd consecutive month below the 50-year average of 98. Twenty-two percent of owners reported that inflation was their single most important problem in operating their business, unchanged from October but 10 points lower than this time last year.

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Why Effective Tax Management Leads to Financial Security

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Are you worried about your long-term financial security? You’re not alone – managing money can be a stressful and confusing process. To get yourself on the right track, one important step is to make sure that your taxes are handled correctly. Effective tax management doesn’t have to be complicated; with the right information and tools, it’s surprisingly simple. In this post, we’ll provide an overview of why proper tax management is essential for achieving lasting financial security.

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The Millionaires Next Store: The Wealthiest 1% Pay More Income Taxes Than the Bottom 95%

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the staff of the Ridgewood blog

Ridgewood NJ, the Biden Administration keeps saying the most-inane things about how much taxes the rich pay which has for year been echoed by the “main street media” aka the Fake News  The president himself  claims that millionaires and billionaires pay a lower tax than a school teacher or a firefighter.” He says repeatedly that the rich pay tax rates of anywhere between 3 and 8% (sic). He wants new millionaire and billionaire taxes to level the playing field.

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Time to Make New Jersey Corporate Taxes More Competitive

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the staff of the Ridgewood blog

Trenton NJ, NJBIA today is testifying in support of legislation that would make New Jersey’s corporate tax policies more competitive with other states by changing the way global intangible low-taxed income (GILTI) and net operating losses (NOLs) are treated under state law.

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New Jersey Tax Revenue Declines by 14.3% Year over Year

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the staff of the Ridgewood blog

Trenton NJ, The Department of the Treasury reported today that April revenue collections for the major taxes totaled $6.969 billion, down $1.161 billion, or 14.3 percent from last April. Fiscal year-to-date total collections of $37.110 billion are now lower by $423.7 million, or 1.1 percent below the same period last year.

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Tax Freedom Day April 18th

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the staff of the Ridgewood blog

Ridgewood NJ, Tax Freedom Day is a symbolic date that represents how long it takes for taxpayers to earn enough money to pay their total tax bill for the year. In the United States, Tax Freedom Day for 2023 falls on April 18th, which means that Americans have to work 108 days into the year just to earn enough money to pay their federal, state, and local taxes. This date can vary from year to year and from country to country, depending on the tax policies and economic factors at play.

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