News

Hurricane Sandy Losses May Be Tax Deductible

Mon, 25 Feb 2013 12:00:00 GMT

Always Consult Your Accountant Before Making Tax Decisions

Hurricane Sandy caused unprecedented and extensive damage to property and businesses in the Tri-State Area. If storm-related damage was sustained to a home, personal property, rental property or a business, the federal tax law may allow the affected taxpayers to claim a deduction on their tax return.

This article focuses on property where the reported loss is on an individual income tax return. The ability to deduct the loss relates to several factors, including the nature of the property that sustained damage, the potential for recovery from insurance, whether the property was located in a declared federal disaster area, and whether the damage was complete or partial.

What Type of Property Do I Own?

For tax purposes, casualty losses are divided into three categories of property and the treatment of losses is distinct for each group. One category is business property and includes equipment, a factory building, or even goodwill from an active trade or business. The second category is income-producing property, which is generally investment property that can be real or personal property such as artwork and investment real estate. The third type of property is property held for personal use, such as a home, car, boat or furniture. There are certain ambiguities between the various property types and a fuller explanation of these differences is beyond the scope of this article. Items of mixed use, such as property used for both personal and rental purposes, and the vacation-home rental rules are examples of these ambiguities. You should consult a tax advisor for help in dealing with the intricacies of these rules.

How Much is My Casualty Loss?

For business or income-producing property that was completely destroyed, the loss is limited to the adjusted basis of the property at the time of the casualty event. For business and income-producing property that sustained partial damage or personal-use property either completely destroyed or partially damaged, the calculated loss is the lesser of the adjusted basis of the property or the decline in the fair market value of the property as measured before and after the casualty event. An appraisal is generally required to determine the "before and after" fair market values. Courts have upheld that a casualty that permanently decreases the fair market value of a property can be claimed as a casualty loss even if minimal actual damage was caused to the property itself. Consider the example of a beach house that was worth $5 million before a severe flood. There was only $200,000 of physical damage to the property but, due to permanent impairment to the neighborhood, the fair market value of the property is $3 million after the flood. Courts have accepted that $2 million is the permissible casualty loss deduction as long as the impairment to the value of the home relates to permanent factors and is not transitory in nature.

An alternative way to measure the casualty loss is the cost of repair. This alternative method can be used for less extensively damaged items as long as the repairs do not increase the value of the property to an amount greater than that before the casualty. Also the repairs cannot be made to items that were not actually damaged.

Where Do I Claim The Loss on My Tax Return?

On an individual tax return, casualty losses claimed for personal-use property and income-producing property are treated as itemized deductions. The loss amount for personal-use property must first be reduced by $100 and then by 10% of adjusted gross income (AGI) to determine the amount allowed as an itemized deduction. The 10%-of-AGI limitation prevents many taxpayers from claiming a casualty loss for personal-use property. By comparison, income-producing property is not subject to this limitation. Care must be taken to properly categorize between personal-use and investment property to maximize the deductibility of casualty losses. Losses claimed for business property are deductible in full as a reduction for AGI, an even more favorable tax treatment. For those taxpayers who are concerned about the AMT, the casualty loss is allowed under both the regular and AMT taxing regimes for all types of property.

How Does Insurance Affect My Casualty Loss Amount?

Many valuable items are insured in case of an unexpected loss due to a major storm or other catastrophe. If a personal-use property item that is being claimed as a casualty loss was insured either in whole or in part, a claim must be filed with the insurance company in order to claim a deduction for the insured portion. Likewise, you must exclude any expected reimbursement from the calculated loss. For example, if a car recently purchased for $40,000 was completely destroyed, but was only insured for $30,000, then the casualty loss deduction allowable is $10,000 as the additional $30,000 loss is expected to be recovered through insurance. Should the insurance not pay that amount, a subsequent casualty loss deduction could be claimed for the amount denied by the insurance company. If you do not file an insurance claim, then only $10,000 would be calculated as the loss regardless of whether the insurance company denied the claim. If a taxpayer underestimates the amount of insurance reimbursement, any excess is treated as income when it is actually received. In our example, if the insurance company decided unexpectedly to pay $35,000, the taxpayer would have to pick up the additional $5,000 as income in the year it is received if a $10,000 loss was taken initially.

What Are Benefits of a Federal Disaster Area Designation?

The President has the authority to declare certain areas as Federal Disaster Areas, which can accelerate a tax refund claim when claiming a casualty loss. The idea behind this is if a casualty loss occurred in a Presidentially Declared Federal Disaster Area, the victims of such a large tragedy may be in immediate need of cash to rebuild and repair. Thus, the federal government allows a casualty loss claim to be effective for the tax year immediately preceding the tax year in which the casualty event occurs. Many areas in New York, New Jersey, and Connecticut that were affected by Hurricane Sandy were declared Federal Disaster Areas and, while Hurricane Sandy occurred in tax year 2012, a casualty loss can be claimed for tax year 2011 if the casualty took place in one of those designated areas. This keeps the taxpayer from having to wait until their 2012 tax returns are filed in 2013 to claim the deduction. Since the 2011 tax deadline passed for most calendar year taxpayers on October 15, 2012, an amended return can be filed to claim an immediate refund. The taxpayer has three years from the due date of a return to file an amended return and claim a refund. Importantly, claiming the loss in the prior year is at the election of the taxpayer for disaster area losses. He or she can choose the tax year in which the loss is claimed. If the Hurricane Sandy-loss occurred in a location not declared a disaster area then the loss can be claimed only for the 2012 tax year.

Can a Casualty Loss Generate a Net Operating Loss (NOL)?

Large assets that are lost due to a storm may generate unreimbursed losses that exceed income in the year that the loss is being claimed. Regardless of whether the casualty loss relates to business, income-producing activity or personal-use assets, the loss can generate a Net Operating Loss (NOL), which can be carried to other tax years -- backwards or forwards. Further, although general losses from passive activities may be suspended under the passive activity loss rules, the tax code provides that losses that meet the casualty requirements are not considered passive activity losses and are fully allowable.

What is My Cost Basis Going Forward After Claiming a Casualty Loss?

Once a loss has been claimed for an asset, the taxpayer needs to know what the basis of that asset will be going forward. The basis of the asset must be adjusted downward by the amount of the loss claimed. If a taxpayer were to claim a $500,000 casualty loss on a property whose adjusted basis before the casualty event was $700,000, the basis immediately after taking the loss would be $200,000.

Operating Business - Goodwill

The tax treatment of a casualty loss from an operating business is complex. As mentioned earlier, the general rule is that the loss allowable is equal to the change in the fair market value before and after the casualty event, but limited to the adjusted basis in the property. The fair market value of many businesses may include a significant amount of goodwill. A loss could be based on the permanent impairment of goodwill resulting from the casualty event. Professional tax advice should be sought when dealing with business casualty losses involving goodwill.

Conclusion

While the ugly side of natural disaster may cause immediate turmoil and distress, it is important to know that there are options available through the tax code to help speed up the recovery process. The tax treatment of casualty losses is complex and the distinction between property categories is not always clear. In times of distress, quickly claiming a cash tax refund can accelerate rebuilding a home or business. A tax advisor can navigate this process with you and assist in your recovery effort.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

FLOOD ELEVATION FAQs: New Jersey’s Emergency Flood Elevation Rule

smercer@DelphicSage.com () — Mon, 25 Feb 2013 12:00:00 GMT

In order to better protect lives and property following Superstorm Sandy and other major recent flooding
events, the state has adopted emergency amendments to New Jersey’s Flood Hazard Area Control Act rules
that establish minimum elevation standards for the reconstruction of houses and buildings in areas that are in danger of flooding. The following FAQs answer some of the most common questions and will help you determine if you need to elevate and get you started if you need to do so.

If your property was not substantially damaged, you do not need to take any action now. Municipal floodplain administrators make “substantial damage” determinations.

The rule applies to new construction and those property owners whose properties were substantially damaged or are starting new construction. A structure is considered substantially damaged if the cost of restoration equals or exceeds 50 percent of the market value of the structure prior to the damage.

Recent congressional action resulted in significant changes to National Flood Insurance Program rates. Flood insurance costs, which are outside the control of the state, are likely to be much lower for those who elevate using the state’s elevation standards.

What does the flood hazard area emergency rule do?

The rule, adopted by emergency action on Jan. 24, requires new and reconstructed buildings to be elevated in accordance with the best available flood mapping. This will help protect people and property during future floods. The emergency rule also adopts a new permit-by-rule so that people reconstructing and elevating buildings utilizing the state’s elevation standard will not need to secure a permit from the Department of Environmental Protection, nor pay the fee typically charged for a Flood Hazard Area permit. This will save them time and money while spurring quicker recovery from Sandy.

What are the new elevation standards?

The Department of Environmental Protection (DEP) has determined that the Federal Emergency Management Agency’s (FEMA) recently released Advisory Base Flood Elevation (ABFE) maps provide the best elevations to be protective of lives and property and has incorporated them as the new elevation standard for the state. Property owners who have to rebuild because their property is substantially damaged will have to build to the highest available state or FEMA elevation level. In most cases, this will be the ABFE. In addition, Flood Hazard Area Act rules, in effect since 2007, require the lowest floor of each building in flood hazard areas to be constructed at least one foot above this elevation.

What are ABFEs?

FEMA had been remapping the floodplain along New Jersey’s coastline for two years when Sandy hit. FEMA’s previous maps were outdated and did not always accurately show the potential for flooding. In order to support and guide New Jersey’s recovery efforts, FEMA released its new mapping in December on an advisory basis. The ABFEs use the most accurate modeling, topographic maps and scientific data available. To learn more about ABFEs and to view the maps for New Jersey, visit: http://www.region2coastal.com/sandy/abfe

Will the ABFEs change?

FEMA anticipates some changes to these maps for both elevations and zones. The ABFEs currently reflect the most accurate modeling, topographic maps and scientific data available. FEMA plans to release updated flood maps over the next six to seven months, which will further fine-tune coastal flood elevations. The regulatory process to finalize the maps could take up to two years. DEP will continue to work with FEMA to provide input on these maps.

If the ABFEs are only advisory, why is the state incorporating the use of these maps now as the basis for elevation standards?

In many cases, existing FEMA flood maps were significantly outdated. Many were more than two decades old. The ABFE maps, which are the precursor to final flood maps, will better protect property and lives and provide consistency and predictability during rebuilding. They will make coastal areas stronger and more resilient. Consistency and predictability will allow rebuilding to occur much more quickly so lives affected by Sandy can return to normal. Without this action, residents may have reconstructed with inadequate safety standards, exposing them to substantially higher flood insurance rates when FEMA adopts its final maps.

Do I have to elevate my home and/or build to new construction standards?

You are required to elevate and/or meet new construction standards if your house is located in a flood zone and was declared substantially damaged by your local floodplain administrator or is new construction. You have no legal obligation to elevate if your home was not substantially damaged.

What is the definition of substantial damage?

Substantial damage means damage of any origin sustained by a structure in which the cost of restoration of the structure to its condition before damage would equal or exceed 50 percent of the market value of the structure before the damage occurred.

If I have to elevate my house, will the state or federal governments help finance the work?

Yes. FEMA can provide up to $30,000 to cover the Increased Cost of Compliance (ICC) with federal, state and local regulations if you have federal flood insurance. In addition, the Christie Administration intends to provide grants to homeowners with substantially damaged homes to help them offset some of the costs of elevation, mitigation and renovation, and intends to announce in the spring the mechanism for such grants. In order to access any additional funding, FEMA requires property owners reconstruct using the best available data.

NEW Can I get Increased Cost of Compliance assistance to elevate my home even if it was not determined to be substantially damaged?

This FEMA assistance is only available to those who had National Flood Insurance Program protection for structures that have sustained substantial damage and were below the current base flood elevations. It is available to anyone with flood insurance, regardless of whether the house is a primary place of residence or not. The state is exploring other options to assist property owners who want to elevate but did not meet the threshold for a determination of substantial damage.

Will the emergency regulation affect my flood insurance rates?

The ABFEs do not affect insurance rates. Your rates could increase when FEMA adopts its final flood maps. If you do not meet its elevation standards, which are likely to be close to the ABFES, your rates could increase even more significantly.

Are there benefits to elevating?

Yes. You will better protect your house and its contents and you will likely pay lower flood insurance rates in the future than if you do not elevate. Some people may find that the long-term insurance savings alone can offset the cost of raising a house.

If my home is determined to be substantially damaged, can I still live in it until I elevate?

Homeowners may live in structures that are deemed substantially damaged for up to four years before needing to elevate if they can take temporary measures to make their homes habitable. The determination of habitability must be made by the local construction official.

NEW Am I eligible for Increased Cost of Compliance funding if I take up to four years to elevate my house? Yes, provided you were insured under the National Flood Insurance Program and you elevate in accordance with applicable standards and FEMA regulations.

Do I have to elevate my house and/or build to new construction standards if my municipality does not pass an ordinance adopting the ABFEs?

Yes, if your municipality declares your house substantially damaged and it is located in a flood hazard area, you are required to elevate and/or build to new construction standards and may begin doing so right away. The DEP, however, is encouraging municipalities to pass an ordinance adopting the ABFEs because this will make your town eligible for Increased Cost of Compliance assistance and other federal mitigation aid. The DEP will be providing municipal officials with a model ordinance so they can adopt the ABFEs as the new elevation standard.

NEW If I have to rebuild, when should I get started and what should I do?

You can begin immediately. The emergency rule provides people who must rebuild and elevate a high level of confidence that they will be in compliance with the flood elevation standards that FEMA will be adopting. There is no need to wait for FEMA to formally propose flood insurance rate maps. You can get started by talking to your municipal floodplain administrator to see if your house is substantially damaged. You should also contact your municipality to see what kind of local approval you may need and what construction standards you have to build to. In addition to the DEP’s elevation standards, buildings in flood zones must meet Uniform Construction Code standards that are regulated by the New Jersey Department of Community Affairs (DCA) and implemented at the local level.

Will I need a state permit to reconstruct or elevate my building?

The DEP regulates building elevations through its Flood Hazard Area Control Act rules. Under the emergency Flood Hazard Area Control Act rule just adopted, you are eligible for what is known as a permit by rule (effectively an automatic permit) as long as the lowest floor is elevated to at least one foot above the state’s design flood elevation and provided the building stays within its original footprint. Slight variations in size and location can sometimes be allowed. You will still need to secure local construction permits. A state Coastal Area Facility Review Act (CAFRA) permit is not needed if you reconstruct in place.

What should I know before rebuilding?

It is very important that you carefully document any repair or reconstruction project to ensure you have a record of all activities from inception to completion. Photographs and other forms of documentation should be kept before, during, and after construction. Retain all receipts, bills, surveys and construction plans. These items will help document the history of your project should you need to do so for FEMA assistance or insurance reimbursement.

What’s the difference between FEMA’s Zone A and Zone V? Can I appeal a V-Zone designation?

Both zones lie within FEMA’s 100-year floodplain. Zone V applies only in tidal floodplains and denotes hazards associated with storm-induced waves of at least three feet in height. Construction standards in the V-zone are more stringent in order to account for the increased risk of damage from storm surges. While there is no appeal process for the ABFEs, you may appeal to FEMA after the agency formally proposes flood maps later this year.

Click here for a more detailed version of the FAQs and additional information on working with the DEP to recover from Sandy or visit http://www.nj.gov/dep/landuse/SandyFAQ.html.

State Plans to Clean Barnegat Bay Taking Shape Bay Included in Statewide Waterway Clean Up Plan

smercer@DelphicSage.com ( By Gregory Kyriakakis ) — Tue, 05 Feb 2013 12:00:00 GMT

Toms River waterways are among those planned for cleanup by the New Jersey Department of Environmental Protection, the township has announced. Township officials met with state DEP representatives last week to discuss waterway debris removal. Along with the lagoons, rivers, and streams to be cleaned is the Barnegat Bay, a waterway that township officials have said is causing continued flooding following Superstorm Sandy. "This is an unprecedented effort on the part of the DEP," said Mayor Thomas Kelaher in a statement. "In the past, the DEP didn’t acknowledge responsibility for the lagoons, so I'm pleased that our many lagoons will be included in the state's dredging project of debris removal." In addition to calls for action from the township to clean the bay, the Ocean County Freeholders have also voiced their concerns about debris in the waterway. According to the township, the debris is defined as "anything that ended up in the waterways from Hurricane Sandy, inclusive of floating and submerged objects." "This will include boats, cars, parts of homes, contents of homes and businesses, structural debris and sand," a township statements reads. Kelaher is "delighted" with the steps being taken by the state, as it will also allow Toms River residents to participate in safe boating outings. Gov. Chris Christie has set a goal of removing 75 percent of all waterway debris by the start of June, according to the township. The governor said in his State of the State address that cleaning up the state's waterways would be a priority as New Jersey continues to recover from Sandy. Christie said that 1,400 vessels were abandoned or sunken throughout the state. In Mantoloking, 58 buildings and eight cars were washed into the Barnegat Bay. "We will remove this debris and dredge the bay to reduce the risk of flooding and to improve the health of the bay," he said in his address. Debris removal contracts are expected to be awarded to three entities this week, according to the township. A map of the 11 waterway zones in the state is available online — Toms River is within zones five and six. Debris will be removed first, and items posing an "imminent health and safety hazard" will be a priority. Sand will be dredged and the state DEP has agreed to have the sand pumped back on to public beach areas and private areas where public easements exist. "Kelaher has advised the NJDEP that Toms River wants to participate to the maximum extent that it can in the sand recovery for their beaches," the township said in a statement. The state Department of Transportation is conducting sounding and underwater surveying to determine what sand and debris must be removed. "The [Federal Emergency Management Agency] standard is to measure the 'eligible debris' to be removed by virtue of the greatest draft of the typical boat that utilizes the waterway, plus two feet at low tide," reads a township statement. "This would appear, on the surface, to be a liberal interpretation which would result in the greatest amount of debris and sand being removed."

Surviving Sandy

smercer@DelphicSage.com () — Thu, 01 Nov 2012 12:00:00 GMT

From New Jersey Office of Emergency Management: "FOR THOSE INTERESTED IN VOLUNTEERING TO HELP WITH HURRICANE SANDY: Please contact the New Jersey volunteer emergency response hotline at 1-800-JERSEY-7 or Backup hotline numbers (which are being answered): 609-775-5236 or 908-303-0471"

Kevin’s Kids Holiday Drive

smercer@DelphicSage.com () — Tue, 15 Nov 2011 12:00:00 GMT

Crossroads Realty is proud to help Kevin Berger of Kevin's Kids Holiday drive for our 10th year!

It is that time of year again!!! Boxes have been placed in the Executive Office, West Dover Office, and Whiting Office for Kevins Kids. Linda Adamson is the contact person to collect the donated items of Toys, and new or Gently used clothing and any kindly written checks. They can be made out to "Kevins Kids." Just call and Linda (908-814-8278), or Officer Conklin will collect these items. Anyone writing checks can contact Linda direct and she will pick them up from any Crossroads Office. Thanks to everyone!

Through the generosity of the Manchester community and the volunteer efforts of the Manchester Township School District staff, the drive provides toys, clothing, and food to children in the Manchester/Lakehurst area that are not so fortunate. There is no gift to big or to small. Checks are also accepted and will directly be used to buy food, clothes, and toys.

This drive began rather innocently almost 30 years ago...
"Mrs. Kathy Magee, a first grade teacher, was talking to her excited students just before the Christmas holidays," said founder Kevin Burger. "Each of the children was responding to Mrs. Magee's question, ‘What is Santa Claus going to bring you for Christmas?' After listening to each child's wish list, one little boy responded that ‘Santa Claus never comes to my house.' As Mrs. Magee fought back her tears, a drive began to make sure Santa visited that boy as well as the home of every child."

"The innocent words of that young boy remind us all that there are so many people in need," said Burger. "This year's economic times appear to be even more difficult. Whether it's increased gasoline prices or a rise in winter heating costs, too many parents have already told me that there just won't be a Christmas this year. We hear so many sad stories of people in need that I just hope we can help them all. Last year one little girl only wanted a new pair of sneakers. Since she had never had her very own pair, only having hand me downs that didn't fit, her mother didn't know her shoe size. The teachers decided to play a game with her by tracing her feet on paper. They then took the cut out model to the store to match the exact size."

How to Donate

Crossroads Realty is proud to be an official drop off location for Kevin's Kids.

Donations can be new clothing, dry, or canned food, toys, books, games. All items, unwrapped, can be placed in the boxes that are located in our Executive Office, West Dover Office, and Whiting Office .

Executive Office

25 Route 37 East
Toms River, NJ

Toms River West Office

168 Route 37 West
Toms River, NJ

Whiting Office

480 Route 530
Whiting, NJ

Cash and check donations go directly to buy food, new toys and clothing for every child identified on the list.

Price Disconnect-Am I a Buyer or Seller??

smercer@DelphicSage.com () — Wed, 05 Jan 2011 12:00:00 GMT

Published: Tuesday, 30 Nov 2010
By: Diana Olick CNBC Real Estate Reporter

Fact: Home prices lag home sales. It happens on the way up and on the way down.

Today's S&P Case Shiller home price report just confirmed what we've seen from umpteen other reports in the past few months, that home prices are taking a double dip. We knew it would happen. "I would guess that by the end of today I would hear lots of double-dip forecasts and a few I told you so's. Things are rotten," opines S&P's David Blitzer. Home sales fell off dramatically in July after the expiration of the home buyer tax credit. Then they came back a few months later, and then turned for the worse again in October. Prices are much harder to gauge because there is so much emotion involved in pricing a home, not to mention so much uncertainty surrounding foreclosure sales, which can affect the price reports dramatically. No question it is a buyer's market out there, but really only for the buyers who don't have to sell. Those who do have to sell, the move-up buyers, are stuck in this bizarre financial disconnect. It's all about math, that they apparently refuse to do. They expect a great discount on whatever house they're buying, but they are unwilling to take a loss on the home they're selling, even if it's a net gain in the end. "The move-up buyer is putting all his ideas about wealth based on the house he owns," notes DC area real estate agent Donna Evers. They simply refuse to do the math. "In other words, in 2005, say the peak of the market, a real estate agent told me I should be able to get $700k for my house, and now it looks like it might be worth 10 percent less - $630K so I can't sell because I've lost $70K. Well if you were going to buy a house for 950K it is now worth 855K which is a $95K differential,. plus you've got a tremendous saving on your monthly payments because interest rates are much lower compared to what they were in 2005." It all makes sense, but it somehow doesn't compute in the mind of the move-up buyer. Of course there's also the issue that banks are requiring larger down payments to get a mortgage, and some buyers don't have the equity cushion in their current home that would allow them to take a loss and still make a new down payment.

Pending Home Sales Surge Unexpectedly in October

smercer@DelphicSage.com () — Wed, 05 Jan 2011 12:00:00 GMT

Pending sales of existing U.S. homes unexpectedly surged in October, data from a real estate trade group showed on Thursday, despite concerns that problems in the foreclosure process might curtail activity. The National Association of Realtors Pending Home Sales Index, based on contracts signed in October, jumped 10.4 percent to 89.3 from 80.9 in September.Economists polled by Reuters ahead of the report had expected a decline of 0.5 percent. The index remains 20.5 percent below a cyclical peak of 112.4 notched in October 2009, when a government tax credit lured first-time home buyers. "It is welcoming to see a solid double-digit percentage gain, but activity needs to improve further to reach healthy, sustainable levels," Lawrence Yun, the NAR's chief economist, said in a statement. Several major U.S. mortgage lenders temporarily halted foreclosures in October 2010 as attorneys general in all 50 states investigated whether banks had submitted faulty paperwork to back evictions.

Public Short Sale Seminar

smercer@DelphicSage.com () — Wed, 13 Oct 2010 12:00:00 GMT

Foreclosure? Short Sale? Need Help?

In these trying economic times, join us at PNC Bank's new Jackson Branch for this free Informational Community Seminar. A Panel of local Mortgage, Legal, Tax and Real Estate Professionals will be on hand with plenty of information, and ample time for Questions & Answers.

RSVP: No later than 10/11/10 to Christine at (732) 223-8925. Seating Is Limited, Reserve Early!

Date: Wednesday, 10/13/10 Time: 7:30pm

PNC Bank, Jackson Branch
331 N. County Line Road
Jackson, NJ 08527

Free Community Information Seminar:
What are my options?
What are the legal and tax ramifications?
How much will it cost?
How much is my house worth?
Is refinance an option?

Ocean & Monmouth County Food Drive

smercer@DelphicSage.com () — Wed, 01 Sep 2010 12:00:00 GMT

Let's do our part and make a contribution to the community!

The Monmouth County Association of REALTORS® would like to have our assistance in a food drive to help provide food to Monmouth and Ocean County residents who experience food insecurity and are struggling to put food on the table for their families. This food drive will help Monmouth and Ocean Counties bolster their depleted inventories as the demand for food assistance continues to rise faster than donated food supplies.

The Foodbank of Monmouth and Ocean Counties

According to the Foodbank of Monmouth and Ocean Counties, in 2009 127,500 local people received emergency food through pantries, soup kitchens and shelters. This is an 84% increase over the 69,340 annual recipients in Monmouth and Ocean Counties in 2005.

We are welcoming all non-perishable items...

Our drop off office locations are as follows:

Berkeley - Holiday City Plaza 1, 730 Jamaica Boulevard, Toms River, NJ

Brick/Silverton - Yorktowne Plaze, 3000 Yorktowne Boulevard, Brick, NJ

Executive Office - 25 Route 37 East, Toms River, NJ

Manchester - 2002 Route 70, Manchester, NJ

Toms River West - 168 Route 37 West, Toms River, NJ

Thank you for all your donations!

Crossroads Realty Buyer's Seminar and Tax Credit information Review

smercer@DelphicSage.com () — Sat, 12 Dec 2009 12:00:00 GMT

Please join us at the Crossroads Realty Buyer's Seminar (and Tax Credit information Review).

This event will be held weekly, every Saturday, from 12-2pm until further notice.

The seminar is designed to inform the public on "What All Buyers Must Know In Today's Market".

Take advantage of this timely information.

Location: 168 Route 37 West, Toms River, NJ.

Please call: 732-244-2200 to sign up.