Author: giuseppekrichauf
Levine, Jacobs and Company, LLC, Senior Member Offers Insight on 401K Income And New Jersey Tax
According to Karu, Yes, ones 401(k) distributions are eligible for the pension exclusion if you otherwise qualify.
Karu continued, A single person making $100,000 or less can exclude $75,000 from New Jersey tax, while a married couple can exclude $100,000. The exclusion is phased out for people who earn between $100,001 and $150,000, and there is no exclusion for those making $150,001 or more.
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To speak with and/or set up an interview with Michael Karu, please contact Amy Delman, Amy Delman Public Relations, LLC, 201.563.4614 or
Michael H. Karu, ... Read more