Wealth Preservation

Using NINGs to Save New Jersey State Income Taxes

1/7/2019 | Article

The Tax Cuts and Jobs Act passed in December 2017 provides many individual
tax benefits, including an increased estate tax exemption and reduced income tax rates. Unfortunately taxes for high income New Jersey residents will likely increase due to the $10,000 limit for state income and property taxes and 10.75% tax rate on income in excess of $5 million.

 

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