CPA advisory for New Jersey business owners and New York commuters, delivered virtually from our Brooklyn office.
OICPA is based in Brooklyn, NY and works with New Jersey-based business owners and households, including many who work in or generate income from New York, on tax strategy, accounting, and advisory services.
OICPA is based in Brooklyn, NY and serves New Jersey-based clients virtually. There is no physical OICPA office in New Jersey.
A large share of New Jersey residents work in or derive income from New York, which makes cross-state tax coordination, not just New Jersey's own rules, the central planning question for many households and business owners here. New Jersey also has its own state-level mechanics, distinct from New York's, that a New York-only preparer can miss.
What to check for this area.
New York-source income for New Jersey residents
New Jersey residents who work in New York generally owe New York tax on that income and claim a credit on their New Jersey return, a mechanism that needs to be calculated correctly to avoid double taxation.
New Jersey's Business Alternative Income Tax (BAIT)
New Jersey's own pass-through entity tax workaround for the federal SALT deduction cap, with its own eligibility rules and election mechanics distinct from New York's PTET.
New Jersey's inheritance tax
Unlike most states, New Jersey still imposes a state-level inheritance tax on transfers to certain non-immediate-family beneficiaries, even though it repealed its separate estate tax, a distinction that surprises many families.
Multi-state nexus for New Jersey businesses
New Jersey businesses with New York customers, property, or remote employees commonly pick up New York filing obligations that need active management alongside their home-state return.
This is general information to help you know what to ask about, not legal or tax advice for your specific situation - confirm how any of this applies to you with your CPA before acting on it.
Frequently asked questions
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Every engagement starts with a conversation about your specific facts, not a generic checklist.