Most firms will file your rental property taxes. We go further. At GTA Accounting Group, we’re built for property owners—and it shows in every detail of how we work.
From Jersey City to Camden, we understand the tax codes, property assessment differences, and municipal fees that impact your returns. We don’t just “do taxes”—we decode local rules to maximize your advantage.
Our team specializes in rental properties, including duplexes, mixed-use buildings, short-term rentals, and multi-unit holdings. That means we know the difference between a repair and an improvement—and how to make both work for your bottom line.
Rental taxes are complex, and timing matters. We’re with you all year for planning, bookkeeping, deductions, and updates—so when tax season comes, you’re already ahead.
You’ll always know what we’re doing, why we’re doing it, and what to expect. There is no jargon or fine print—just clear communication and results you can track.
Whether you’re renting a single unit or managing a growing portfolio, we tailor our strategy to your unique situation. You’ll never get generic advice from us—only what’s best for your rental income.
As a rental property owner in New Jersey, it's essential to understand how rental income is taxed and your obligations to remain compliant with state laws.
Rental income includes any payment you receive for the use or occupation of your property. This encompasses
All these forms of income must be reported on your New Jersey state tax return.
In New Jersey, rental income is taxable and must be reported on your state tax return, regardless of whether the property is in New Jersey or another state.
Atlantic City, Cape May, Toms River
Because we live and work near you, we understand each county's specific rules, rates, and regulations—and we apply that insight to help you make smart financial decisions.
If you want tax advice specific to your city, neighbourhood, and property type—GTA Accounting Group is ready to help. Book a free consultation today.
At GTA Accounting Group, we don't just file your taxes—we help you optimize them. Our clients save thousands of dollars annually by avoiding common pitfalls and capturing every eligible deduction.
Here’s how we deliver unmatched value to New Jersey rental property owners:
You’ve worked hard to grow your rental income—we work just as hard to protect it.
Owning a rental property in New Jersey can be a rewarding investment, but it comes with specific tax responsibilities. Whether leasing a single-family home, a multi-unit building, or offering short-term rentals, understanding the state's tax requirements is crucial to ensure compliance and optimize your financial returns.
New Jersey's tax landscape includes various obligations for rental property owners, such as reporting rental income, understanding allowable deductions, and adhering to local tax regulations. Navigating these complexities can be challenging, especially with the nuances that differ from one municipality to another.
At GTA Accounting Group, we guide property owners through New Jersey's rental tax requirements. Our team is committed to providing clear, accurate, and timely advice to help you manage your tax obligations effectively.
Ensure your rental property taxes are handled correctly—contact GTA Accounting Group today for expert guidance.
Short-term rentals, often facilitated through platforms like Airbnb or Vrbo, are subject to specific taxes in New Jersey:
It's important to note that rental platforms generally collect and remit these taxes.
Long-term rentals are treated differently:
Duration
Less than 90 consecutive days
90 consecutive days or more
State Sales Tax
Applicable (6.625%)
Not applicable
State Occupancy Fee
Applicable (5%)
Not applicable
Local Taxes
It may apply and varies by municipality.
Generally not applicable
Income Reporting
Required
Required
Understand the tax implications of your rental type—GTA Accounting Group can guide you through the specifics.
Understanding the tax differences between short-term and long-term rentals in New Jersey is crucial for property owners. Each rental type has distinct tax obligations that can significantly impact your financial planning.
New Jersey's property tax landscape is notably complex, with significant variations across its municipalities. Each local government sets tax rates, which can impact the profitability of your rental property.
Get in touchHigher property taxes can reduce your net rental income. It's essential to factor these costs into your financial planning. Additionally, some municipalities may offer tax abatements or incentives for specific property improvements or developments.
Given the variability in tax rates and regulations, staying informed about the specific requirements in your property's municipality is crucial. Regularly reviewing local tax assessments and understanding potential exemptions can aid in effective financial management.
Navigate local tax regulations confidently—partner with GTA Accounting Group for localized expertise.
Let's consider a hypothetical scenario involving a property owner in Newark to illustrate the practical application of rental property tax strategies in New Jersey.
Jane Doe owns a two-family home in Newark, New Jersey. She resides in one unit and rents out the other. In the past, Jane managed her rental income and expenses without professional assistance, leading to missed deductions and potential compliance issues.
Upon consulting with GTA Accounting Group, the following steps were taken:
Achieve similar success—schedule a consultation with GTA Accounting Group today.
Owning rental property in New Jersey comes with various expenses, many of which are tax-deductible. Understanding these deductions can help you reduce your taxable income and improve the profitability of your investment.
Get in touchTo substantiate your deductions, it's crucial to maintain accurate and detailed records. This includes:
Proper documentation supports your deductions in case of an audit and helps in accurate record-keeping for your investment.
Ensure you're taking full advantage of available deductions—contact GTA Accounting Group today for expert assistance in managing your rental property taxes.
Navigating the tax landscape as a rental property owner in New Jersey can be complex. Many landlords, especially those new to the field, often make errors that can lead to audits, penalties, or missed deductions. Understanding these common pitfalls is the first step toward ensuring accurate and compliant tax filings.
Avoid costly mistakes—trust GTA Accounting Group for accurate tax filing.
Managing rental property taxes in New Jersey involves navigating a complex state and local regulations landscape. At GTA Accounting Group, we specialize in providing comprehensive tax services tailored to the unique needs of New Jersey landlords.
Our team is committed to delivering personalized service. We leverage our expertise to help you confidently navigate the complexities of rental property taxation.
Partner with GTA Accounting Group to ensure your rental property taxes are managed efficiently and compliantly—contact us today to schedule a consultation.
Managing rental property taxes in New Jersey involves navigating a complex state and local regulations landscape. At GTA Accounting Group, we specialize in providing comprehensive tax services tailored to the unique needs of New Jersey landlords.
Ensure your rental property taxes are handled with precision and care—contact GTA Accounting Group today to schedule a consultation.
Yes. Any income you receive from renting out property — short-term or long-term — must be reported on your New Jersey and federal tax returns. It includes rent, retained security deposits, and any tenant-paid expenses.
Repairs (like fixing a leaky faucet or repainting) are deductible in the year they’re done. Improvements (like adding a new roof or re-modelling a kitchen) must be depreciated over several years. We can help you categorize these properly to avoid mistakes.
Yes. Rentals under 90 consecutive days (like Airbnb) are subject to NJ sales tax and occupancy fees. Rentals longer than 90 days are generally exempt. GTA Accounting Group can help you apply the correct rules to avoid overpaying.
Absolutely. These are two of the most significant deductions available to rental property owners. You can also deduct insurance, depreciation, repairs, and more.
You’ll need to allocate expenses between personal and rental use. For example, you can deduct a portion of utilities, insurance, or mortgage interest that applies to the rental space.
Depreciation lets you recover the cost of your property (excluding land) over 27.5 years. It’s required — and if you skip it, the IRS may still assume you claimed it and reduce your cost basis anyway. We’ll make sure it’s calculated correctly.
Yes. You can file an amended return if you missed deductions or made errors on a previous return. GTA Accounting Group regularly helps clients correct and optimize past filings.
We can represent you during the audit process, help gather documentation, and communicate directly with the tax authorities on your behalf. You're never alone when you work with us.
Keep all receipts, invoices, lease agreements, bank statements, and mileage logs. Use separate accounts for rental activity. We can also help you set up an easy-to-use system.
It’s better to plan than to fix things later. Schedule a consultation with GTA Accounting Group, and we’ll help you build a smart tax strategy from day one.