Income Tax Lawyers in Old Bridge, New Jersey

Find the right Income Tax attorney in Old Bridge, NJ

In Old Bridge, New Jersey, the income tax is a tax imposed on money received (income) during a certain set time period. Under federal law, and the laws of most states, income from any source can be taxed. The federal government has had the constitutional power to impose an income tax since 1916, since the passage of the 16th Amendment. Before then, states could, and still can, impose whatever income tax they like, including in New Jersey.

While the federal income tax applies to everybody in the United States, the income taxes imposed by individual states vary widely, and some states have no income tax at all. You should consult with an Old Bridge, New Jersey tax Attorney or accountant to find out if your state is one of them.

Income Tax Deductions in Old Bridge, New Jersey

A tax deduction is an expense which, in whole or in part, is subtracted from a person's taxable income. For example, if you make ,000 in a year, and the tax rate is 10%, a deduction of ,000 results in only ,000 being taxed. This means that you will pay ,900 instead of ,000.

This should not be confused with a tax credit, which is a reduction of a person's tax bill. A tax credit almost always results in a lower tax burden than a tax deduction of the same amount.

Many expenses in Old Bridge are tax-deductible, such as interest paid on mortgages, charitable donations, the price of tax advice, and union dues, among others.

How Can A Old Bridge, New Jersey Tax Attorney Help?

Income tax laws in Old Bridge, New Jersey can get fairly complex. You should speak with an accountant or tax Lawyer if you have any questions about your income tax liability.

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Life in Old Bridge

Old Bridge, New Jersey is a township in Middlesex County. As of a 2007 estimate by the U.S. Census Bureau, its population is about 66,000.

Old Bridge can trace its origins to when the English wrested control of the area from the Dutch in 1664. In the 1680s, the current boundaries of Middlesex County were laid out by the legislative body with jurisdiction at the time. The area went through several name changes over the centuries, and finally appears to have settled on the official name of Township of Old Bridge, in 1975.

Until the 1950s, Old Bridge was largely an agricultural community, and population and economic growth were slow. However, during the post-WWII economic boom, there was a burst of construction activity, and most of the farm land gave way to residential developments.

Modernly, Old Bridge, New Jersey is home to a population that is relatively well-off, economically speaking. Only about 4% of the population of Old Bridge lives below the poverty line, which is much lower than the national average.

If you live in Old Bridge, New Jersey, chances are good that you'll be able to find a lawyer if you need one. Old Bridge, New Jersey lawyers are very diverse and competent. An Old Bridge, New Jersey attorney can probably handle just about any legal issue you might have.