Payroll New Jersey, Special Features of New Jersey Payroll Law and Practice

The New Jersey State Company that oversees the assortment and reporting of State income taxes deducted from payroll checks is:Division of the TreasuryDivision of Revenue50 Barrack St. CN 248Trenton, NJ 08648-0248(609) 292-6400(800) 323-4400 (in state) Jersey allows you to use the Federal W-four form to calculate state income tax withholding or the New Jersey form “NJ-W4 Employee’s Withholding Allowance Certificate”.Not all states enable salary reductions produced underneath Segment 125 cafeteria strategies or 401(k) to be handled in the identical method as the IRS code allows. In New Jersey cafeteria strategies are taxable for income tax calculation taxable for unemployment insurance reasons. 401(k) strategy deferrals are not taxable for income taxes taxable for unemployment reasons.In New Jersey supplemental wages are required to be aggregated for the state incometax withholding calculation.You might file your New Jersey State W-2s by magnetic media if you decide on to.The New Jersey State Unemployment Insurance Company is:Unemployment and Disability InsuranceJohn Fitch PlazaP.O. Box 912Trenton, NJ 08646(609) 633-6400 State of New Jersey taxable wage base for unemployment reasons is wages up to $24,300.00.New Jersey calls for Magnetic media reporting of quarterly wage reporting if the employer has at minimum 100 personnel that they are reporting that quarter.Unemployment records need to be retained in New Jersey for a minimal period of 5 a long time. This info generally incorporates: identify social security number dates of employ, rehire and termination wages by period payroll spend periods and spend dates date and situations of termination.The New Jersey State Company charged with enforcing the statewage and hour laws is:Division of LaborDivision of Labor Criteria and Safety EnforcementOffice of Wage and Hour Compliance225 E. State St.P.O. Box 389Trenton, NJ 08625-0389(609) 292-7860 minimal wage in New Jersey is $five.fifteen per hour.The general provision in New Jersey concerning spending overtime in a non-FLSA coated employer is one particular and one particular half times regular rate following forty-hour week.New Jersey State new employ reporting specifications are that every single employer need to report every single new employ and rehire. The employer need to report the federally required components of: Employee’s identify Employee’s date of birth Employee’s tackle Employee’s social security numbe Employer’s identify Employers tackle Employer’s Federal Employer Identification Amount (EIN) This info need to be noted within 20 days of the hiring or rehiring every single fifteen days on mag media. The info can be sent as a W4 or equivalent by mail, fax or electronically. There is a $25.00 penalty for a late report and $500 for conspiracy in New Jersey.The New Jersey new employ-reporting agency can be reached at 888-624-6339, 877-654-4737, or 609-689-1900 or on the internet at http://www.nj-newhire.comNew Jersey does not enable compulsory immediate depositNew Jersey calls for the subsequent info on an employee’s spend stub:statement of complete wages and deductionsNew Jersey calls for that employee be compensated no much less often than semimonthly month to month for exempt personnel.New Jersey calls for that the lag time amongst the end of the spend period and the payment of wages to the employee not exceed ten days.New Jersey payroll law calls for that involuntarily terminated personnel need to be compensated their last spend by their subsequent regular payday (by mail at employee’s request) and that voluntarily terminated personnel need to be compensated their last spend by the subsequent regular payday or by mail if employee requests it.Deceased employee’s wages need to be compensated when normally because of to the surviving spouse, young children eighteen or more than, guardian of small young children, mother and father, siblings, or particular person spending funeral bills (in that buy).Escheat laws in New Jersey call for that unclaimed wages be compensated more than to the state following one particular 12 months.The employer is additionally required in New Jersey to preserve a record of the wages abandoned and turned more than to the state for a period of five a long time.New Jersey payroll law mandates no far more than forty% (much less for some staff) of minimal wage might be used as a suggestion credit score.In the New Jersey payroll law there is no provision covering required rest or meal periods.New Jersey statute calls for that wage and hour records be kept for a period of not much less than one particular 12 months. These records will normally consist of at minimum the info required underneath FLSA.The New Jersey agency charged with enforcing Little one Assistance Orders and laws is:Division of Human ServicesDivision of Financial SupportOffice of Little one Assistance and Paternity PlansState ServicesBox CN 716Trenton, NJ 08625(877) 655-4371http://www.njchildsupport.orgNew Jersey has the subsequent provisions for youngster help deductions: When to commence Withholding? First spend period ending following postmark date. When to deliver Payment? Payday When to deliver Termination Observe? “Promptly” Greatest Administrative Fee? $1 per payment. Withholding Limits? Federal Guidelines underneath CCPA. Please be aware that this article is not up-to-date for modifications that can and will take place from time to time.

New Jersey Limousines – Your Guide to Limo Services New Jersey

Sometimes in New Jersey, stylish and efficient transport can make or break a special occasion. And often a limo is the only choice of transport that really fits the bill. These include prom nights, bar mitzvahs, engagement and wedding parties, airport transfers, sightseeing tours, nightlife forays, entertaining clients and business associates – the list is endless. What makes the limo such a desirable and versatile mode of transport is its unique blend of style, capacity and facilities. Add to this the fact that limo companies take great care of their fleet and only hire highly qualified and experienced drivers, and you can see why the limousine is the way to go. But how do you go about choosing the right limousine for your needs? Here’s your complete guide to Limo services New Jersey. The first factor to consider is your reason for hiring a limo. Obviously a wedding, an airport run and a prom will require different types of vehicle and facilities. Additional considerations include how the driver dresses. For a wedding, you’ll want a driver to be decked up in the proper attire, while for an airport transfer a standard suit or uniform will do. The next consideration is the size of your group. This will determine the model of vehicle you’ll have to choose. Traditional stretch limos can hold six to twelve passengers which makes them perfect for small to medium sized groups. If you plan to more people on board, you should get an SUV limo which can hold up to 18 people. Any more than that and you’ll have to opt for a party bus which can hold up to 30 or more. You have a wide range of choices for models of limo. Here are some of the most popular to whet your appetite. The Cadillac Escalade Limousine is one of latest in a fine line of cars long indicative of American engineering excellence. This auto was built for luxury; multiple flat TV screens, modern audio systems, bars with avonite tops and two-tone seating all come as standard. The : Lincoln Navigator is the businessman’s favorite owing to its classic style. Nonetheless, this fine vehicle is perfect for every occasion because of its strong safety features and stylish interior. It’s also a very powerful machine and packs a wad of horsepower under its hood. Another classic is the Chrysler 300 Limousine, a high end luxury auto that can accommodate up to 12 passengers in sumptuous comfort. Nicknamed the ‘Baby Bentley’, this elegant machine has been ferrying celebrities around for decades. If you want transport for a large group, you’ll want to consider the Hummer stretch Limousine which can accommodate up to 12 passengers. Bear in mind that stretch limos are generally better suited for city driving; if you’re planning on heading out into the country, the classic version would be a better choice. Next, there’s the matter of the amenities you’ll require. Most limo packages come with everything you need – plasma TVs, high end audio systems and bars as standard. If you have any special requirements, check with your online limo company. Most will be happy to accommodate you if they can. Now you have an idea of your perfect vehicle in mind, the best way to hire a limo is to contact one of the online limousine companies. By visiting their websites you can find out all the details of available vehicles along with prices and conditions. You can also view high-resolution images of their autos, both of exteriors and interiors. Most companies offer hire by the hour and some require a minimum time, especially at peak periods such as the weekends. By ordering online with a reputable limo company, you’ll not only get the best choices and keenest prices for New Jersey limos, you can also be confident you’re getting a quality well-maintained vehicle that won’t let your down and a professional driver who will treat you like a valued client. Economy, reliability and safety are the benefits of hiring your limo from a reputable company.

New Jersey Governor Christie Supports Treatment Vs Prison For Non-violent Drug Offenders: Teaching People About Addiction, Recovery, Mental Health, And Cultural Competency.

New Jersey Governor Christie Supports Treatment vs Prison for Non-violent Drug Offenders: Teaching People About Addiction, Recovery, Mental Health, and Cultural Competency.

This is a revolutionary thinker, ladies and gentlemen. Most United States based criminal justice representatives support prison sentences over treatment. In their extremely skewed and misguided attempts to control the drug explosion in the United States, criminal justice proponents argue that if they send them to prison they will not be able to do drugs any more. How naive is that?

As a counselor with 19 years of experience working with co-occurring disorders (addiction and mental health) I have interviewed many prison inmates, jail inmates, prison guards, jail guards, and ex-inmate drug offenders. They all have one thing to say in common, “drugs are readily available in prison.” That’s right the prison system is as corrupt as our society.

Keeping that in mind, New Jersey Governor Christie signed a bill back in July of 2012 granting a budget of $2.5 million for a pilot program to run drug treatment programs in 3 of New Jersey’s counties. He argued, quite intelligently, that it costs the United States tax payers approximately $42,000 to feed and house an individual drug offender inmate and that it costs only $11,300 to pay for treatment.

Florida Governor Rick Scott vetoed a bill in April of 2012 that would provide treatment options for drug offenders in lieu of prison time. Florida leads the nation in longer prison sentences for non-violent drug offenders. Florida ranks 49th out of 50 states in provision of mental health and substance abuse treatment. Governor Scott later amended that after they have served half of their prison sentence, inmates are to continue with costly treatment mandated, but no money was allocated for this. Florida, desperately needing funds for mental health and substance abuse treatment, lags behind New Jersey. In an age when Americans are killed by their own people with mental illness and due to drug related incidents, Governor Rick Scott missed the writing on the wall. Funding for in jail treatment programs is at an all time low. Jail programs provide drug offenders an opportunity to learn about treatment, diagnosis, recovery, and much needed psychiatric services that would lessen drug incidence and civilian casualties.

Florida Governor Scott should take a page from New Jersey Governor Christie’s book on visionary treatment service option modalities. With the explosion of drugs affecting our children, DUIs (driving under the influence of either alcohol and or drugs), subsequent road fatalities, the hefty increase in deaths by overdose, and the burden placed on the budget of keeping non-violent drug offenders incarcerated, it is good to see that one man has the gumption to step forward and offer a fresh outlook on society’s drug dilemma.

Governor Christie is a proponent of criminal justice system reform and this is one of his political platforms. The United States could use a few “out-of-the-box thinkers” presidential hopefuls. I know I could.

Governor Christie stated, “What we’re dealing with most people here is an addiction, an illness that needs to be treated as such,” he said. “And I truly firmly believe that this will not only be extraordinarily successful in terms of the numbers that it will produce over time, but I also believe that even if it was successful only once, we could claim success because every life is precious.”

Nj Accounting A Unique Way Of Enhancing Financial Growth

Accounting in any business firm is the most essential and indispensable function for all types of business organizations. Since, how you would be estimating what you had earned and what you had invested by the end of the year if you won’t work on accounts and financial transactions. However, the job of accounting needs whole lot of patience and acumen to hard work lest things get unmanageable too soon. If you are a long established business firm or the sapling one you must have sound accounting system as it forms the very backbone of your organization.

Accounting is that major sphere of a business which keeps it running for long term provided it is well coordinated and accomplished on time. You can not just employ hundreds of in-house accountants in order to get accounting work done on time. It would be too expensive to afford huge salaries of these personnel and that too when you have outsourcing options available at your services. Due to the advent of information technology and the globalization communication facilities and options have widened and so do have the business activities. One can easily outsource the accounting work from the companies offshore that offers the same quality and amount of work in cost-efficient way.

If you are really interested in generating profits double the amount you have invested in the business, make sure that you have got your NJ accounting work outsourced from some reliable company. The outsourcing company not only completes your accounting task but it gives you sound advices as well to work on effective strategies that will enhance your profit rate. The professionals in outsourcing firms are recruited after a very critical examination of their skills and expertise in accounting so that the work produced is error free and meet the standards prescribed by the concerned business firm.

Now that you have understood the importance of an accounting system so you must be looking forward to get associated with some accounting outsourcing company out there in market. There are several of them but which one is apt for your business purpose this is what you should think first. Make sure that the company you are assigning your NJ accounting work must have good reputation in the market and this can be found out by the customer reviews and forums published online related to outsourcing business world.
Before signing up the business agreement checks out for the following details so that you may not feel cheated at the later stage of business.

• Outsourcing company has fair history
• It assures you of securing and safeguarding the confidentiality of your financial and accounts related documents
• Must have great credentials from customers
• Must have expert professionals employed for accounting work
• Cost-efficient services
• On time submission

It is prerequisite of any business firm to have accounting NJ records and balance sheets in appropriate manner. Even an error of single decimal point brings in vast losses to the company so make sure that you have sound accounting services hired for your business.

NJ Property Tax Appeals

April 15th. Infamous for its connotation of the “deadline,” this day has long been associated with taxes. But tax payers be aware: there’s another date that everyone, especially homeowners eager to save money on taxes, should remain on the lookout for: April 1st, which marks the deadline for filing a New Jersey property tax appeal.

With the dark cloud comes a silver lining: the meager economy and the real estate collapse of 2008 may have forced the decline of property values in the state of New Jersey, but it also produced one benefit— a homeowner’s ability to appeal his/her taxes due to over-assessed property value. The first step towards some financial relief through a tax appeal: understanding the process.

Step 1: Understand How Your Property Tax is Determined
You know that every quarter, the city sends you a bill prompting you to pay your share of property taxes. The question is, do you know how they come up with that number? Your town’s taxing authority uses the town’s budget— which includes funding for the service departments, schools, the police department, town maintenance, etc.— to determine how much money the city will need, and through that amount, determine your tax rate. That rate, multiplied by the value at which your property is assessed, produces your tax bill. Hence why your home’s value plays such a vital role in the difference between decent and outrageous when it comes to tax affordability.

Step 2: Make Sure It’s Worth It
The NJ tax appeal process comes with some costs— filing fees, assessment charges, professional consultation fares, etc.— so it’d be a good idea to first make sure the savings is worth the effort. As a preliminary, and unofficial, screening, you can search online for a free tax appeal calculator, which usually applies the current amount of taxes you pay and what you believe the value of your house to be in order to provide you with an estimated price of what the city believes your house is worth. It then employs these numbers, differentiating between the taxes you pay based on the city’s assessment of your house versus what you would pay if taxes were based on the home’s true value, to calculate the amount of money you could be saving should you attempt and win an appeal. For those of you who have trouble finding a calculator that is applicable statewide, try this NJ tax appeal calculator:

Step 3: Make Sure You Qualify
The NJ tax appeal process has its own set of requirements that all appellants must fulfill before they even consider filing— make sure you meet them all to avoid wasting your time and money.
 All property taxes up to Quarter 1 of 2011 must be paid in full.
 Complete the Chapter 91 form, if requested, and return to the city within 45 days of receipt. A Chapter 91 enables assessors to request a report on income producing properties, providing them with access to financial information that will help them make the right assessment on a property.
 Your basis for appealing your current assessment is due to misrepresentation of one of the following standards:
1. True Market Value, which mandates that all assessments are 100% of what was considered to be True Market Value as of October of the previous year, which in this case would be 2010.
2. Common Level Range, which takes into consideration what happens to home valuations after external factors, like recession, inflation, and depreciation, cause an increase or decrease in rates. Assessments that are not modified annually may deviate from 100% of True Market Value due to these factors. Typically, if your home value falls outside a range of 15% from True Market Value, you have a very good case for appeal. A tax calculator, such as the one mentioned, will tell you this right away.

Step 4: Move Forward
Once you determine that it would be a good move, file for the tax appeal using an A-1 form no later than April 1st. Make sure you have valid reason for the appeal on hand, as made evidence through a formal third party assessment, or through comparables of the value of properties within your neighborhood. Then, take the steps necessary to ensure that you are well-prepared to present you case, as the assessor is always considered right until proven wrong. This is where hiring an experienced tax appeal professional to support your case may be well worth the cost in the end, it can pay for itself many times over through the money you’ll save in taxes.

The New Jersey Legislature adopted a formula called Chapter 123 to test the fairness of an assessment. When compared to the property’s True Market Value, the current assessment must fit within the Common Level Range— should it exceed the range, the assessment must be reduced to common level.

For instance:
Let’s say the Common Level Range falls within 70% -90% of True Market Value. Your home’s True Value is $100,000, and it is currently assessed at $95,000. Because $95,000 is 95% of $100,000 ($95,000 ÷ $100,000), it falls past the maximum percentage within the Common Level Range and must therefore, be reduced.

Remember, the formula works both ways. So let’s say the Common Level Range falls within 70%-90% of True Market Value, and your home’s True Value is $100,000. If it’s currently assessed at $65,000, then it is at 65% of True Value ($65,000÷ $100,000), and therefore, falls below the Common Level Range. The result: your assessment would be increased.

Step 5: Show Up to the Hearing
Once you file for an appeal, a hearing before the County Tax Board is scheduled. As an individual taxpayer of NJ, you can represent yourself— business entities, with the exception of sole proprietorships, are required to have attorney representation.

If you’re relying on a professional assessment to support your case, a copy of the appraisal report must be provided to the assessor, as well as each County Tax Board member at least seven days prior to the hearing. The appraiser who completed the report must also be available to serve as an expert witness during the hearing. Ifyou choose to utilize comparables to prove your case, the assessor, and all members of the Board, must be supplied with copies of the comparables seven days prior to the hearing, as well.

NJ tax appeal hearings are typically held within three months of the filing deadline. Should you succeed in proving that your current assessment is erroneous, unreasonable, excessive, or discriminatory, and should you be effective in sustaining credible evidence to back your allegations, then you’re well on your way to some much-deserved tax relief.

The preceding material has been provided to you by NJ Tax Appeal. Jeffrey Pacailler is the head of the Valuation Division at RER LLC, one of New Jersey’s premier real estate investment companies. He frequently consults for real estate investors on valuation and strategy in New Jersey real estate. Visit to download your free tax appeal calculator today.

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Economy Of New Jersey

New Jersey is one of the states of the United States. Layingwithin the extensive metropolitan areas of New York City it is the most populous state of the United States and is also the second richeststate. The state is consistently ranked as one of the highest median incomes. A general perception is that the richer state would have the most developed economy. Lets see if this holdtrue for new jersey or not.The location of this state at the center of the Northeast Megalopolis is beneficial for the economy fueling itsswift growth through the suburban boom of the 1950s.The introduction of the new factories in the cities of Elizabeth, Paterson and Trenton helped to bring the industrial revolution in the 19th century. In2006, the bureau of the Economic Analysis estimated that the total state product was of the value $434 billion. However, in January 2010, the unemployment rate of this state was 9.9%. theper capita income of this state is estimated as the third highest with $51,358. The state also has the highest number of the households that are millionaire.

When it comes to fiscal policy, we see that the state has seven tax brackets that range from 1.4 to 8.97% which determine the income tax rates. The general prevailing sales tax rate that is applicable is 7%. This tax rate applies to all the retails unless they are not given exemptions by the law. Generally the exemptions are allotted to the food items, medicines and clothing. The shoppers are generally chargeda tax rate of 3.5% tax rate. The communities of Elizabeth and Jersey city are charged a lesser tax rate The economy of the New Jersey is famous for the pharmaceutical industry, chemical development and telecommunications and tourism. The state is also a center of attraction for tourists which further adds to the economy of the state. The state is also famous for its agricultural products. Some of the famous agricultural products include blueberries, cranberries, spinach, peaches, bell peppers and lettuce.

New Jersey is also famous for its strong scientific economy. The industry is flourishing due to the availability of the large pool of the skilled labor which supports the development of the industry in the state. Shipping is also the strong industry over here because of the strategic location of the state and has the busiest port over here.Many of the headquarters of the business are also located in this state because of the strategic location. The state frequently faces the deficits which affects the standard of living of the people over here. It has the highest tax burden. The highest cost of living over here further increases the tax liability. Although the incomes are higher over here which puts them in higher income tax bracket but it makes their life vulnerable to paying the minimum taxes. From this discussion we can see the economy is flourishing and therefore it is proved that the state having more richer people has a developed economy.

How Profitable Is Your Tax Lien Investing?

Do you know how profitable your tax lien investing portfolio is? In this article you’ll learn how to track your tax lien portfolio so that you know just how profitable you are at any time. Begin by entering all of your tax liens into a spreadsheet or software program. The best way to index them is by county/municipality, and tax ID (in New Jersey this would be block and lot). You’ll need a column or field for the certificate amount and a column or field to input the interest rate that you are getting on the certificate amount. For states where premium is bid, you’ll also need a column for any premium that was paid.

You’ll need to have a formula to calculate the penalty amount (in states that have a penalty) and a formula to calculate the interest due. These formulas must also take into account how many days have lapsed since you purchased the tax lien certificate. You may be able to ask the county treasurer for the formula that they use to calculate the redemption amount. You will also need to track any subsequent tax payments that you make and the interest due on your sub payments. And you will need a way to keep track of all of your expenses, both the expenses that are reimbursed upon redemption of the tax lien certificate and those that are not.

To calculate how profitable you are, take all the interest and penalties that are due both on the certificate amount and on any subsequent taxes paid. Add to this your original investment (the certificate amount) plus any subsequent taxes paid plus any expenses that are reimbursed upon redemption of the tax lien certificate. This is the total amount that you would be paid if your tax lien certificate redeemed. Subtract your total investment from this number. Your total investment is what you paid for your tax lien certificate plus any subsequent taxes that you paid plus any reimbursable expenses and non-reimbursable expenses related to your lien. This is your profit. Once you have your profit you can calculate the yield, or percent yield for each of your tax lien certificates. To do this, divide the profit by your total investment. If you want to convert this to an annual yield, you need to know how many days the lien was held for. Multiply the yield by 365 (the number of days in a year) and divide by the number of days that you held the certificate.

For instance if your profit was $360 on a tax lien that you held for 90 days and your total investment was $3600, your yield would be 10% and your annualized yield would be (.10 X 365) / 90 = .4055 or 40.5 %. You’ll need to do this for each tax lien in your portfolio. Then if you want to, you can get an average yield or annual yield for your entire portfolio.

Since every state is different the calculations for penalties and interest will differ for each state and you will need a different spreadsheet or software for each state that you invest in. I use a software program that does all of this for me, and it’s customized for each state. It’s called Tax Lien Manager, and it does much more than calculate the profitability of your tax lien portfolio.