30 12, 2017

Understanding the New Jersey Retirement Income Tax Exclusion   

2022-03-12T13:29:26-05:00December 30th, 2017|

New Jersey has long provided state income tax exclusions for pensions and other retirement income. The state doesn’t tax Social Security benefits at all, and even provides a special exclusion for taxpayers aged 62 and up who are not eligible [...]

4 12, 2017

No New Jersey Estate Tax after December 31, 2017

2018-02-02T22:10:32-05:00December 4th, 2017|

In 2016, the New Jersey legislature repealed the state’s estate tax, but phased in the change. For those who passed away during calendar year 2017, there was a significant bump in the exemption. Prior to 2017, New Jersey estate tax [...]

18 10, 2017

Avoid These 8 Common Estate Planning Mistakes

2018-02-02T22:10:33-05:00October 18th, 2017|

The most common and most significant estate planning error is failing to plan at all. About half of U.S. adults don’t even have a will, arguably the most basic estate planning document. Unfortunately, many of those who have taken basic [...]

12 09, 2017

How A Living Trust Helps Your Family

2017-10-03T15:26:25-04:00September 12th, 2017|

There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, and caring for family members with special needs. Estate planning [...]

7 07, 2017

Owe Back Taxes? The IRS May Grant You Uncollectible Status

2018-02-02T22:10:38-05:00July 7th, 2017|

Sometimes seniors find themselves owing past-due federal taxes they cannot afford to pay.  Although notices from the IRS can be especially frightening, there are solutions. If the sum owed is less than $50,000, the IRS will accept monthly payments over [...]