Date: May 6, 2022Attorney: Martin D. Hauptman
The New Jersey Division of Taxation has prepared a tax guide for retirees in New Jersey discussing the taxability of various sources of retirement income including pensions, IRAs and annuities. Some other important topics included are the pension exclusion, life insurance policies, the tax consequences related to qualified domestic relations order saving plans and the taxation of beneficiaries of IRAs. The guide also reviews property tax benefits for retirees including the homestead benefit and the senior freeze. Mandelbaum Barrett Tax attorney Martin D. Hauptman, Esq. is available to answer any tax questions that seniors may have regarding retirement.
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