The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
file photo by Boyd Loving
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Roseland NJ, The New Jersey Society of Certified Public Accountants (NJCPA) is pleased to announce that a New Jersey Senate resolution (SR101) has designated the week of November 6 through 12 as “Certified Public Accountants Week.” The resolution was sponsored by Senator Steven Oroho (R-24), the only CPA in the Legislature, and Senate President Nick Scutari (D-22). SR101 passed the full Senate unanimously. No there will not be a parade .
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Trenton NJ, Senator Declan O’Scanlon said NFL star wide receiver Tyreek Hill perfectly demonstrated New Jersey’s tax problem when he explained why he chose to be traded to the Miami Dolphins instead of the New York Jets: “It was very close to happening, but it was just those state taxes, man.”
Continue reading NFL’s Tyreek Hill Demonstrates How NJ’s High Taxes Impact Behavior
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Trenton NJ, New Jersey advertises itself as the “Medicine Chest of the World.” Nine of the largest drug companies in the nation are either headquartered in, or have major operations clustered in the Garden State.
Continue reading Pharmaceutical Companies Next on the Democrats Hit List
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Trenton NJ, Republican senators called for action on their plans to save New Jersey taxpayers from suffering state income tax increases next year due to inflation after the Treasury Department estimated the cost of “tax bracket creep” at $543 million in FY 2023.
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Quick history lesson:
Ridgewood NJ, When the founders of the Committee to Unleash Prosperity (Laffer, Kudlow, Forbes, and Moore) advised Donald Trump back in 2016 on tax reform, we recommended a 20% corporate tax rate, because the U.S. rate of 40% (when including state taxes) was the highest in the world. This incentivized capital to flow out of the U.S. to leverage lower tax rates in Europe and Asia.
Continue reading The Laffer Curve Strikes Again: Lower Tax Rates, More Revenue
file photo courtesy of Boyd Loving
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Ridgewood NJ, the United States Supreme Court rejected New Jersey and other states’ requests to restore the full income tax deduction for state and local taxes (SALT) .
Continue reading The US Supreme Court Refuses to hear the SALT Deduction Challenge
file photo by Boyd Loving
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Ridgewood NJ, according to a new poll from AARP two out of five New Jersey voters 50 years old or older considered leaving the state to live elsewhere in the last year.
Continue reading AARP Poll Finds 83% of New Jersey Voters 50 or Older are likely to Leave the State
FTC Sues Intuit for Its Deceptive TurboTax “free” Filing Campaign
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Ridgewood NJ, the Federal Trade Commission is taking action against Intuit Inc., the maker of the popular TurboTax tax filing software, by issuing an administrative complaint against the company for deceiving consumers with bogus advertisements pitching “free” tax filing that millions of consumers could not use. In addition, to prevent ongoing harm to consumers rushing to file their taxes, the Commission also filed a federal district court complaint asking a court to order Intuit to halt its deceptive advertising immediately.
Continue reading So We Guess TurboTax is Not Really Free ,Free after all
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Trenton NJ, Senators Steven Oroho and Anthony Bucco welcomed the Board of Public Utilities’ cost study of Governor Murphy’s Energy Master Plan but chastised the Administration for the unexplained two year delay.
Offshore Trusts offer a safe haven from the courts and creditors of other states and help you avoid both your own country’s tax system and their banks’ reporting requirements. Offshore trust laws provide a level of confidentiality and privacy that many people find attractive.
Your money is separate from the client operating the trust, so there is no way for the courts to make you reveal any financial information. The trustee will only disclose this information to appropriate parties.
Originally, Offshore Trusts were used by people who had concerns about their own governments and wanted to secure their assets outside the reach of their home country’s legal system. However, there are several reasons why you could set up an Offshore Trust.
Continue reading An Easy Guide To Understanding How Offshore Trusts Work
file photo by Boyd Loving
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Ridgewood NJ, a new WalletHub Study rates New Jersey the worst place to retire. With 27% of all nonretired adults having no retirement savings, the personal-finance website WalletHub today released its report on 2022’s Best States to Retire.
Continue reading WalletHub Study : New Jersey Is 2022’s Worst State to Retire
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Ridgewood NJ, on December 13, 2021 , at Village Hall Court Room (4th floor) , Everything You Wanted to Know About Budgets in the Village of Ridgewood, But Were Afraid to Ask Presentation – 7:00 p.m. with Robert Rooney, Village Chief Financial Officer . He will give a presentation on how the Village of Ridgewood’s budget is established each year. There will also be a time for questions and answers. Please come out and learn about the Village budget, prior to our budget meetings in January/February 2022.
“If taxes are your issue, then New Jersey’s probably not your state ” , New Jersey Governor Phil Murphy
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New Brunswick NJ, not much has changed in 50 years when it comes to New Jersey’s most important problem, according to a Rutgers-Eagleton Poll. Then and now, New Jerseyans rate taxes – including property taxes – as their number one concern.
NJ Tax Bracket Creep
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Ridgewood NJ, last week’s federal Producer Price Index report showed that prices for basic goods across the country surged at a rate unseen in 31 years.
As Jared Walczak of the Tax Foundation noted in an analysis, “Inflation is often called a hidden tax, but in many states it yields a far more literal tax increase as tax brackets fail to adjust for changes in consumer purchasing power.”
Continue reading NEW JERSEY’S STEALTH INCOME TAX HIKE : INFLATION
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Jersey City NJ, After an appearance with the most unpopular Democratic President in 40 years, Joe “Bare Shelves” Biden drew all the excitement of drinking warm milk while watching wet paint dry, failed Governor Phil Murphy is getting increasingly desperate. His solution? Call in the most famous Socialist obstructionist of all, comrade Bernie Sanders.
Continue reading Bernie and Murphy, Perfect Together, Horrible for Jersey
