Pandemics. Politics. Profits. The year 2020 has seen chaos caused by all three. And on Thursday, October 29, 2020, professionals in the multifamily real estate industry came together to weigh in on just how impactful these will be in 2021. David Wolfe, Esq., served as moderator for the nationally-broadcasted panel “Capital Markets for Multifamily: Debt,… Read more »
Category: Insights
How Child Support is Calculated in New Jersey
I often encounter parents who enter our office with misconceptions about how child support is determined. I find this fear stems from two places: 1) A misunderstanding of how child support is calculated; and 2) references in pop culture. (One song by Kanye West, in particular.) Common NJ Child Support Myths: An overview of how… Read more »
Jersey City Commercial Property Owners: Targets of Property Tax Increase Cases
As we wrote earlier in 2020, Jersey City, N.J., is now aggressively pursuing commercial property owners with reverse appeals designed to increase assessments and corresponding property taxes. Despite recently completing a revaluation in 2018, Jersey City is selectively challenging assessments on vacant land, multifamily, and industrial properties. This new initiative is in full swing and… Read more »
Skoloff & Wolfe, P.C. Defends Not for Profit’s Property Tax Exemption
Sides Await NJ Supreme Court Decision in Tax Exempt Status of Kean University On-Campus Restaurant In New Jersey, local municipalities continue to re-examine the status of longstanding property tax exemptions. This includes continued challenges against state institutions and not for profits such as universities, hospitals, houses of worship, and other similar establishments and organizations. Property… Read more »
Building the Financial Aspects of a Divorce Case: Discovery and Analysis of Hidden Income and Assets
By: Jonathan W. Wolfe Previously published in American Journal of Family Law, Spring 2010, Volume 24. Attorneys representing parties in divorce frequently are faced with the difficult challenge of discovering and proving the existence of hidden income or assets. Although most prevalent in the context of private business owners, spouses from all career paths are… Read more »
Examining Retained Earnings in Divorce: Prudent Business Practice or Support Dodge?
By: Jonathan W. Wolfe This article was previously published in New Jersey Law Journal, Vol. 212 – No 12. There are many legitimate reasons for a business to retain earnings. However, for a spouse in a divorce — or contemplating divorce — leaving money in the business may be viewed as a tool to shield… Read more »
Jersey City Authorizes Reverse/Increase Cases Against Commercial Property Owners – Call the Jersey City, NJ Property Tax Appeal Attorney
Jersey City is following the lead of other NJ municipalities and has authorized reverse/increase cases against commercial property owners. What does that mean? Even if you haven’t filed a property tax appeal, the City may initiate an appeal to increase your assessment and your real estate taxes. These filings represent a significant change in the… Read more »
How Family Trust Funds May Impact Your Divorce Case in NJ and Other States
By: Jonathan W. Wolfe Published in Family Advocate, Vol. 38, No. 2, (Fall 2015) p. 14-20. © 2015 by the American Bar Association. Matrimonial attorneys who handle high-asset cases are confronted with a variety of complex legal and factual questions when either their client or the client’s spouse is a beneficiary of a trust. When… Read more »
How can property tax savings help NYC hotel operators stay competitive? David Wolfe provides answers about hotel property tax.
When it comes to calculating property taxes on hotels, few taxing jurisdictions fairly distinguish the taxable value of the real estate from FF&E and good will. Consequently, hotels can be paying significantly more in hotel property tax than what is fair. Appearing on a panel at the BISNOW Hospitality Investment, Development & Management Summit in… Read more »