Howard Hook, CFP®, CPA, CAP®, Senior Wealth Advisor at EKS Associates, was recently featured in NJMoneyHelp, discussing a common New Jersey retirement tax question:

Can a married couple qualify for the pension exclusion if only one spouse meets the age requirement?

In the article, Howard explains how New Jersey’s pension exclusion rules work for married couples filing jointly. While many retirees assume both spouses must be age 62 or older to qualify, that is not necessarily the case. Howard clarifies that eligibility is determined by whether at least one spouse meets the age and income requirements, along with other factors related to retirement income and filing status.

The discussion shows how easily retirement tax rules can become misunderstood, especially when state-specific regulations are involved. Decisions surrounding retirement income, distributions, and tax planning often work together, making it important to evaluate these strategies in the context of a broader financial plan.

Read the full article from NJMoneyHelp.

Putting It Into Perspective

Retirement income planning involves more than simply understanding federal tax rules. State-specific provisions, income thresholds, and timing considerations can all affect how much retirees ultimately keep.

Learn more about Howard and how he helps clients navigate retirement income, taxes, and long-term financial planning.