Reaching your 70th birthday is cause for celebration. But thanks to our quirky tax code, a potentially more important milestone arrives six months later. IRS rules say that you must begin taking required minimum distributions (RMDs) from your IRAs and other tax-deferred retirement accounts beginning in the year you reach age 70 ½.
TRENTON – October estimates showed that private sector employers in New Jersey created 4,000 jobs over the month while the state’s unemployment rate continued to decline, down by 0.1 percentage point to 9.1 percent, according to the state Department of Labor. New Jersey’s unemployment rate has now dropped successively during each of the past three months.
WASHINGTON, D.C. — The nation’s 90-and-older population nearly tripled over the past three decades, reaching 1.9 million in 2010, according to a report released today by the U.S. Census Bureau and supported by the National Institute on Aging. Over the next four decades, this population is projected to more than quadruple.
NEWARK – With the busiest shopping day of the year just over one week away, the New Jersey Division of Consumer Affairs today reminded shoppers to know their rights about rainchecks, gift cards, and item refunds, and also to check the national list of recalled toys before going online or to stores this holiday shopping season.
TRENTON – New Jersey’s October revenue collections were 3.1 percent under budgeted amounts, the state treasury department announced today. The drop off was blamed in part on weather-related disruptions of both the state’s normal economic activity and its tax collection efforts.
WASHINGTON, D.C. – The U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) are releasing the 2012 Fuel Economy Guide, providing consumers with information that can help them choose a more efficient new vehicle that saves them money and reduces greenhouse gas emissions.
WASHINGTON, D.C. – Americans for Fair Taxation (AFFT) released revenue estimates on Monday that indicate the FairTax, a national sales tax, would have collected far more federal revenue in 2009 and 2010 than the current income tax based system.
NEW BRUNSWICK — The New Jersey State Bar Foundation will present a free public seminar on Buying and Selling a Home on Tuesday, Dec. 6, from 7-9 p.m. at the New Jersey Law Center, One Constitution Square off Ryders Lane in New Brunswick.
Each year, roughly one-third of American households itemize deductions on their federal income taxes. If you’re among that group, there are a several important actions you need to take by year’s end in order to take full advantage of available deductions.
WOODBRIDGE – John W. Alexander, Chairman and Chief Executive Officer of Northfield Bank, was joined by over 30 bank employees to ring the closing bell at the NASDAQ stock exchange on Nov. 7. This event begins a year-long celebration of Northfield Bank’s 125 year anniversary.