The Bottom Line
The Bottom Line is where Klatzkin’s advisors provide analysis and insight into key developments in taxation, accounting, and other issues and how they affect businesses and individual taxpayers.

NJ ANCHOR Program Opens for 2025

By ANGELA A. LAWRENCE

The State of New Jersey’s Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program officially opened for 2025 in August.  On August 13, the state’s Treasury Department started sending notification letters to New Jersey taxpayers, confirming their eligibility and informing them that their ANCHOR applications will be filed automatically by the state, beginning September 15, 2025.  This year’s ANCHOR benefits are based on the taxpayer’s residency, income, and age from tax year 2024.

The Impact of OBBBA on Nonprofits

By MICHELLE S. MARTIN

When the One Big Beautiful Bill Act (OBBBA) became law on July 4, 2025, it brought major updates to tax policy and federal spending. The changes affect everything from how individuals claim deductions to how corporations make gifts, along with adjustments to several major federal programs. For nonprofits, these changes will likely influence donor behavior, and in some cases, the amount of help people seek from community organizations.

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