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Social Security might be excluded in New Jersey—but that is not the end of the story. It should be recognized that retirement income might still be taxed in accordance with the type and total income, as well as the age information. What qualifies for exclusion should be acknowledged well, as it can be a key […]

The term “exempt” brings comfort—specifically when it is linked to taxation season. In New Jersey, many seniors find that not all retirement income is treated equally. Indeed, the state already exempts Social Security benefits. Yet, there are further layers of relief for residents satisfying specific eligibility qualifications. Who Can Claim an Exemption? The general rule […]

New Jersey presents retirees as well as other residents with distinct tax advantages, particularly in terms of types of income that are not subject to state tax. Recognizing what is excluded in advance might be helpful in creating a clearer picture of financial obligations—especially in the case of aiming to maintain more tax-free income in […]