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NJ towns and cities can establish charitable entities that will allow taxpayers to add taxes to a fund that would credit money and allow taxpayers a charitable deduction (which doesn't have a limitation on deductions) and circumvent the $10,000 limitation.
I find it interesting that the average deductions for Bergen County are > $28,000! That's a nice chunk of change!
Apparently some states have IRS-approved charities already in place and NJ figures the IRS can't object without doing away with all of them.
It just goes to prove that for every political action there is an equivalent political reaction.
Maybe the thought was, "charity begins at home" or better yet "with your home"! Or with NJ ...don't get mad - get even!
Clusters of high-UMC (top 5%) towns there, especially a large cluster (Paramus and every town north and west of it) in the northwest part of the county.
Apparently... NY thinks they can cut first responders in Albany to save money...
Eliminate 15 officers in the city's police force to save $1.6 million.
Reduce the number of firefighters by 27 over four years to save $1.2 million.
These are two of more than 50 recommendations in the long-awaited, state-ordered report completed by The PFM Group that aims to ease fiscal strains and ween the capital city off of state aid
The final suggestion of the report received Friday is a more common one: raise property taxes.
"The report provides ideas to draw from as the city examines potential cost-saving measures," said Brian Shea, Mayor Kathy Sheehan's chief of staff. "The premise of the report is providing us cost-saving options that would reduce our need for state aid. Some of the ideas we may agree with, and some we may not."
Here's an idea...
Try operating within a budget, you money hungry idiots.
Stop making everyone pay for your inability to operate within a budget without having to raise taxes and cut services... just a thought...
Services will have to be cut. Less police, less support for the disabled, less firefighters as the race to the bottom of lower and lower taxes gathers pace. This is the libertarian way. Less support for the disabled and fewer cops on the beat = more freedom.
Services will have to be cut. Less police, less support for the disabled, less firefighters as the race to the bottom of lower and lower taxes gathers pace. This is the libertarian way. Less support for the disabled and fewer cops on the beat = more freedom.
Not necessarily.
Back office staffing could be cut.
I live 10 miles from a town with 2 associate school superintendents now, that had 0 for 30 years , with a larger school age pop. They existed 30 years with a super, 0 associates, added 2 associates with declining school age population. Ex super who I knew HATED that change. Knew they were soaking the town unnecessarily, and results in his era were superior in result.
And how long until Congress just modifies the tax code to disallow these dodges, if the IRS doesn't simple declare them abusive tax shelters and shuts them down themselves?
NJ towns and cities can establish charitable entities that will allow taxpayers to add taxes to a fund that would credit money and allow taxpayers a charitable deduction (which doesn't have a limitation on deductions) and circumvent the $10,000 limitation.
I find it interesting that the average deductions for Bergen County are > $28,000! That's a nice chunk of change!
Apparently some states have IRS-approved charities already in place and NJ figures the IRS can't object without doing away with all of them.
It just goes to prove that for every political action there is an equivalent political reaction.
Maybe the thought was, "charity begins at home" or better yet "with your home"! Or with NJ ...don't get mad - get even!
let them do it....it wont work, and wont help them unless they are super rich with super high taxes
1. donations to charitable organizations...if more than 10%- 15% (so if you make 70k, if more than 7000-10000) are automatically FLAGGED....*****average donated percentage is under 3%*****
2. its HIGHLY doubtful their SALT (state and local taxes) would be more than the std ded of 24k
for example their state tax is 8000 (10%(which is high) of a 80k taxable income) and their property tax is 14k...still only totals 22k...the std ded of 24k gets them more of a deduction
Well, studies have shown that too much SALT is bad for you, and that we all should limit how much SALT we use. I think the people of New Jersey are smart for raising awareness for limiting SALT... *looks around, notices everyone staring* I...uh...ha...I'm in the wrong subforum again, aren't I?
I live 10 miles from a town with 2 associate school superintendents now, that had 0 for 30 years , with a larger school age pop. They existed 30 years with a super, 0 associates, added 2 associates with declining school age population. Ex super who I knew HATED that change. Knew they were soaking the town unnecessarily, and results in his era were superior in result.
Government is BLOATED.
exactly...
people wrongly complain that teachers are over paid, yet when you look at the costs...its not the teacher salaries, its all the overpaid unnecessary "admins", "vices" and "associates"
heck our "custodians" or in todays language "facility engineers" are making 6 figures................ too much "government" and not enough representation
Makes me wonder how many state officials will end up in prison for tax fraud.
Funny how all the rich in liberal states will try criminal acts to avoid paying their fair share.
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Or with NJ ...don't get mad - get even! 
