Kulzer & DiPadova, P.A.
76 E. Euclid Avenue, Suite 300
Haddonfield, New Jersey 08033-2342

P: 856.795.7744
F: 856.795.8982
E: info@kulzerdipadova.com

News, Articles & Resources

When is an Inheritance a Part of Property to be Divided in the Divorce?

When is an Inheritance a Part of Property to be Divided in the Divorce?
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A recent New Jersey divorce case has important implications for estate planners.  It holds that an inherited asset is not subject to equitable distribution in divorce.  Rosen v. Rosen, 2019, N.J. Super. Unpub. LEXIS 1509 App. Div. (July 3, 2019)                 Sometimes clients will ask their estate planner, if I…

Penalty Relief for CBT Taxpayers

Penalty Relief for CBT Taxpayers
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The New Jersey Division of Taxation has announced penalty relief for taxpayers who made timely requests for an extended filing date for their 2018 New Jersey Corporation Business Tax Returns. Originally, the extended filing date for a 2018 calendar year corporation was October 15, 2019, the same due date as…

S Corporation Shareholder Denied $8,000,000 Loss Deduction Due to Poor Structure of Loan

S Corporation Shareholder Denied $8,000,000 Loss Deduction Due to Poor Structure of Loan
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An S corporation does not pay federal income taxes.  Instead, its income or losses pass through to its shareholders, and they report the income or loss on their federal individual income tax returns.  A shareholder can deduct losses, but only up to the adjusted basis of the shareholder’s stock and…

New Jersey Passes Wage Theft Act: What Employers Need to Know

New Jersey Passes Wage Theft Act: What Employers Need to Know
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On August 6, 2019, New Jersey Acting Governor Sheila Oliver signed into law the New Jersey Wage Theft Act (the “Act”), P.L. 2019, c.212, modifying New Jersey’s existing wage and hour laws. Except for certain provisions dealing with criminal offenses, the Act took effect immediately upon enactment. The Act provides…

WHEN CAN STATES TAX TRUST INCOME? THE U.S. SUPREME COURT PROVIDES LIMITED GUIDANCE

WHEN CAN STATES TAX TRUST INCOME? THE U.S. SUPREME COURT PROVIDES LIMITED GUIDANCE
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U.S. Supreme Court provides guidance (although minimal) on the interstate income taxation of Trusts. North Carolina Department of Revenue vs. Kimberly Rice Kaestner 1992 Family Trust, 139 S. Ct. 2213, 588 U.S.  (June 21, 2019).     When an individual owns several homes and travels between them, spending time in…

New Jersey Employers Required to Offer Mandatory Pre-Tax Transportation Fringe Benefits

New Jersey Employers Required to Offer Mandatory Pre-Tax Transportation Fringe Benefits
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On March 1, 2019, Governor Phil Murphy signed into law Senate Bill No. 1567, “An Act concerning pre-tax transportation fringe benefits” (“Act”), which requires New Jersey employers with at least 20 employees to offer pre-tax transportation fringe benefits to its employees.  Transportation fringe benefits include employees’ costs incurred for alternative…

Appellate Victory for Kulzer & DiPadova

Appellate Victory for Kulzer & DiPadova
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In the Matter of the Estate of Kershak, N.J. Super. App. Div. Eric A. Feldhake and Daniel L. Mellor prevailed for their clients on six of the six issues brought on appeal. The Court found the case potentially included exceptional circumstances that would warrant relief under Rule 4:50-1(f) and the…

Is Registered Mail the Way to Go?

Is Registered Mail the Way to Go?
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Prior to 1954, the law treated tax documents as timely filed provided the document was physically delivered to the Internal Revenue Service (“IRS”) by the applicable deadline.  This rule left taxpayers with no recourse should timely mailing have occurred but through no fault of the taxpayers (e.g. postal service misplacing…

Kulzer & DiPadova Attorneys Named 2019 SuperLawyers

Kulzer & DiPadova Attorneys Named 2019 SuperLawyers
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Congratulations to the five attorneys at Kulzer & DiPadova, P.A. who were recognized by New Jersey Super Lawyers* Magazine for 2019. The following attorneys were recognized as New Jersey SuperLawyers for 2019 in these primary practice areas: Arthur A. DiPadova – Estate Planning & Probate, Tax James B. Evans Jr. – Tax Glenn A. Henkel – Estate…

Is My Client’s Small Business Subject to the Business Interest Expense Limitation?

Is My Client’s Small Business Subject to the Business Interest Expense Limitation?
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Beginning in 2018 the federal income tax deduction of business interest can be limited. The law provides a “small business” exception to this limitation.  However, businesses conducted in multiple related entities must be combined when determining if the small business exception applies. The limitation on business interest expense was originally…

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