- Personal tax returnsFederal and New Jersey returns, prepared and reviewed by a CPA.Learn more about tax preparation →
- Lake homes and rentalsRental income, depreciation and the 14-day rule.Learn more about real estate accounting →
- Healthcare professionalsPhysicians, practices and clinicians with side income.Learn more about medical practice accounting →
- Downtown businessesBookkeeping, payroll and NJ sales tax for shops and restaurants.Learn more about bookkeeping →
The Hub of Morris County
Denville earned the nickname "the Hub of Morris County" for its central location where Routes 10, 46 and 53 and Interstate 80 meet. It's home to Saint Clare's Hospital, the township's largest employer, a walkable downtown of independent shops and restaurants, and lake communities such as Cedar Lake, Indian Lake, Rock Ridge and Lake Arrowhead. That mix brings us questions about personal returns, rental income and running a local business.
Lake houses and rental income
- The 14-day rule. If you rent your home for 14 days or fewer in a year, the rent isn't taxable and you don't report it (Internal Revenue Code section 280A(g)).
- Longer rentals. Rent beyond 14 days is reported on Schedule E, with expenses divided between personal and rental days. Depreciation can offset much of the income.
- Short-term rental platforms. Stays booked through Airbnb or similar platforms are subject to New Jersey sales tax and occupancy fees, which the platform generally collects for you.
- Selling. Up to $250,000 of gain ($500,000 for married couples) on a main home can be excluded, if you meet the ownership and use tests. See real estate accounting.
Healthcare professionals
With Saint Clare's in town, many of our Denville clients work in healthcare. We prepare returns for employed clinicians with per diem or consulting income, and handle bookkeeping, payroll and entity planning for physicians who own their practice. See accounting for medical practices.
Downtown shops and restaurants
- Sales tax. New Jersey sales tax is 6.625%. Restaurant meals are taxable, while most grocery food isn't.
- Tipped staff. Restaurants can claim the federal FICA tip credit for employer Social Security and Medicare tax paid on tips, and tipped employees may qualify for the new federal deduction for tips.
- Payroll and books. Quarterly NJ-927 filings, year-end W-2s and monthly reconciled books. See payroll services.
How we work
Most of our work happens through our secure client portal, by phone and by video call, so you don't need to take time off to drop off documents. In-person meetings are available by appointment. We respond within one business day, and we're available Saturdays as well as weekdays.
Frequently asked questions
Do I have to report income from renting my lake house for a few weeks?
Not if you rent it for 14 days or fewer during the year. That rent is tax-free and isn't reported. Rent beyond 14 days is reported, and expenses are split between personal and rental use.
Do I collect sales tax on my Airbnb rental in Denville?
New Jersey sales tax and occupancy fees apply to short-term stays. When the booking goes through a platform such as Airbnb, the platform generally collects and remits them for you.
Can you help nurses and physicians with side income?
Yes. We prepare returns for clinicians with W-2 and 1099 income, set up estimated taxes, and help practice owners with bookkeeping, payroll and entity choice.
Are you close to Denville?
Yes. Our practice is in Mine Hill, a short drive west of Denville. In-person meetings are available by appointment, and most clients share documents through our secure portal.