Q. My wife and I are becoming Florida residents this month - October. For the purposes of our 2019 New Jersey income tax return, can we claim only 10 months of our income in New Jersey rather than 12 months? — Getting out A. Congrats on the move. You’re going to have to do some math. When you move from one state to another, you are required to prorate your income and tax deductions between the states, said Bernie Kiely, a certified financial planner and certified public accou

Q. How are proceeds from the sale of Qualified Small Business Stock (QSBS) taxed in New Jersey? — Investor A. Changes could be coming to how this kind of stock is taxed in New Jersey. First, some background. Internal Revenue Code Section 1202, also known as the “Small Business Stock Gains Exclusion,” allows capital gains from select small business stock to be excluded from federal tax. Section 1202 of the IRS Code only applies to qualified small business stock acquired after