Income Tax

Same Sex Marriage Now Legal In New Jersey

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Same Sex Marriage

Effective today, same sex marriage is now legal in New Jersey after Governor Chris Christie dropped his plans to appeal the ruling of Superior Court Judge Mary Jacobson.  On September 27, 2013, Judge Jacobson had ruled that New Jersey must allow same sex marriages in the wake of the Supreme Court’s decision in United States v. […]

Estate Tax

Betting on the Estate Tax

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Betting on the Estate Tax

With all the uncertainty surrounding the federal estate tax, I still refuse to speculate on what will happen. I did however make a bet with my father (Dinner) over when a decision will be made on the estate tax. My father believes that since Congress is in a lame duck session, they will try to […]

Basis

Understanding Basis

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Understanding Basis

If you want to sell an asset, particularly a valuable asset, no one should do so without first understanding what the tax consequences of that sale might be. The tax that most often affects the sale of a valuable asset (in a non-business setting), is the capital gains tax. To understand this capital gains tax […]