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I worked from home since COVID. What happens to my taxes? Today 5:30 AM Q. In preparation for my tax return, can I apportion my income differently this year. And should I? My business is in New York City but I live in New Jersey. I’ve been working from home since March 2020. I’ve previously paid taxes to New York State and received a credit towards my New Jersey taxes, but because New Jersey’s rate is more than 2% higher than New York, I would still owe money to New Jersey and there could be an underpayment penalty. How should I file? ....
Can N.J. tax my pension if I move to Florida? lehighvalleylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lehighvalleylive.com Daily Mail and Mail on Sunday newspapers.
If I sell a co-op in New Jersey, can I do a 1031 exchange? Updated Jan 27, 2021; Owner A. A 1031 exchange can allow you to defer taxes when you sell a rental or investment property if you buy a substantially similar property. The Tax Cuts & Jobs Act of 2018 implemented many changes to the 1031 exchange arena, said Steven Gallo, a certified public accountant and personal financial specialist with U.S. Financial Services in Fairfield. The most important change is that it eliminated personal property exchanges from eligibility. “This change brought rise to the question of whether co-ops would qualify under the new provisions since when purchasing a co-op, an individual is purchasing shares of stock in an entity that owns the real estate,” Gallo said. ....