Why can’t this veteran get N.J.’s veteran tax break?

Q. I was honorably discharged from the New Jersey Army National Guard, but the state said I’m not eligible for the veteran’s exemption. Why? — Served with pride A. It may not seem like a fair answer, but the state sees your service differently. As a member of the National Guard, you’re not actually on active duty,said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown. He said the Army National Guard and the Air Force National Guard are state entities. The Navy and Marines do not have National Guard organizations. The Commanders in Chief of the state Guards are the governors of each state, and in times of crisis, the presid

Why aren’t there more N.J. tax breaks for veterans?

Q. My husband is a Vietnam War veteran. Of course he gets the tiny $250 tax reduction since 1980. How can it be only $250 after 49 years? This is an affront to our military veterans. Can’t we do better? — Proud wife A. Thanks to your husband for his service. There are actually two real estate tax deductions for veterans who live in New Jersey. The first, as you mentioned, is the $250 property tax deduction. This law, N.J.S.A. 54:4-8.11, was first enacted in 1963, then amended in 1985 and amended again in 2000, said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown. The 2000 amendment states that the deduction will be $100

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Kiely Capital Management offers financial planning and investment advice. Serving Central and Northern New Jersey, Yvonne and Bernard (Bernie) Kiely provide over 25 years of experience offering discretionary asset management, retirement planning and income tax preparation. KCM is registered with the State of New Jersey as a Registered Investment Advisor.

 

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