- Family tax returnsFederal and New Jersey returns, prepared and reviewed by a CPA.Learn more about tax preparation →
- Home-based businessesDeductions, estimated taxes and the right entity for your profit level.Learn more about LLC vs. S corporation →
- Property tax reliefANCHOR, Stay NJ, the Senior Freeze and the property tax deduction.Learn more about NJ property tax relief →
- RetirementHow New Jersey taxes pensions, IRAs and Social Security.Learn more about NJ retirement income tax →
Your neighbors in Mine Hill
Randolph borders Mine Hill, and it's home to the County College of Morris. It's a township of families, commuters and owner-run businesses, including plenty run from a home office. That makes college costs, household deductions and small-business planning the questions we hear most.
Families: college, kids and the house
- NJBEST deduction. New Jersey lets you deduct up to $10,000 a year of contributions to an NJBEST 529 account if your New Jersey gross income is $200,000 or less. Contributions to other states' 529 plans don't qualify.
- College credits. Tuition at the County College of Morris or a four-year school can qualify for the American Opportunity credit of up to $2,500 per student for the first four years, subject to income limits.
- Property taxes. New Jersey homeowners can deduct up to $15,000 of property taxes on the state return or take a credit instead, and may qualify for ANCHOR or Stay NJ benefits.
- Selling your home. 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.
Running a business from home
- Home office. Self-employed owners can deduct a home office used regularly and exclusively for business. Employees generally can't.
- Retirement plans. A SEP-IRA or solo 401(k) can shelter a large share of your self-employment income.
- Estimated taxes. Quarterly federal and New Jersey payments set at the right level, so you avoid penalties without overpaying.
- Entity choice. Once profit is steady, an S corporation can cut self-employment tax, as long as you pay yourself a reasonable salary.
Commuting and remote work
If you commute to New York or work from home for a New York employer, you'll file in both states. We prepare the returns together so the credit for tax paid to New York is claimed correctly. See New Jersey and New York multi-state taxes.
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
Can I deduct my NJBEST contributions on my New Jersey return?
Yes, up to $10,000 a year if your New Jersey gross income is $200,000 or less. The deduction applies only to New Jersey's NJBEST plan, not to other states' 529 plans.
Does County College of Morris tuition qualify for the American Opportunity credit?
Generally yes. Tuition and required fees at an eligible school qualify for the first four years of college, up to $2,500 per student, as long as your income is under the limits and the student is enrolled at least half time.
I run my business from home in Randolph. Can I deduct a home office?
If you're self-employed and use the space regularly and exclusively for business, yes. You can use the simplified method or deduct a share of actual home expenses. Employees generally can't take the deduction.
Are you close to Randolph?
Yes. Our practice is in Mine Hill, which borders Randolph. In-person meetings are available by appointment, and most clients share documents through our secure portal.