New Jersey residents may not know that there are several new taxes going into effect on Jan. 1 that are designed to help pay for ObamaCare. One of these taxes has the unfortunate consequence of only applying to people making just over $53,000 and families making no more than $200,000 per year. For families with a large amount of medical bills, this new tax could give them the final push toward bankruptcy.
As the year comes to an end, many New Jersey homeowners may be wondering whether Congress is going to renew the homeowner friendly tax provisions that are expiring on Dec. 31. Many homeowners continue to struggle with their mortgage debt and are doing what they can to find some closure before the end of the year. One of the biggest questions on a lot of minds right now is what will happen come Jan. 1 if the situation isn't resolved.