
KARIN PRICE MUELLER, NJ ADVANCE MEDIA GROUP
Will I owe this tax if I live in another country?
By Karin Price Mueller | NJMoneyHelp.com for NJ.com Q. I am a U.S. citizen but I plan to relocate to my home country for a few years. I do not own a home in New Jersey and won’t have any income in the state. My bank and brokerage accounts will have my cousin’s New Jersey address., which is the address on my driver’s licence. Will I owe capital gains from sale of my primary home in my home country? — Planning A. It sounds like even though you’re a citizen, you were born in ano

KARIN PRICE MUELLER, NJ ADVANCE MEDIA GROUP
If we retire to New Jersey from New York, will our taxes go down?
By Karin Price Mueller | NJMoneyHelp.com for NJ.com Q. My wife is 65 and I’m 68. We are thinking about moving and retiring to New Jersey from New York. Our pensions total $96,000. Our Social Security totals $55,000. We both have 401(k)s but we’re not touching them until age 72. Do we qualify for the pension exclusion? And if we have a mortgage and property taxes, will this bring our income down for the exclusion? — Trying to decide A. Congrats on your pending retirement. The

KARIN PRICE MUELLER, NJ ADVANCE MEDIA GROUP
Is the stimulus check a loan? Will I owe taxes on my stimulus payment?
By Karin Price Mueller | NJMoneyHelp.com for NJ.com Stimulus payments from the coronavirus relief package are starting to land in Americans’ bank accounts, giving much-needed financial help to families. Married couples who earn less than $150,000 will get $2,400, while singles will get $1,200 if they earn less than $75,000. Singles who earn between $75,000 and $99,000 will get a partial payment, as will married couples who earn between $150,000 and $198,000. Parents with chil

KARIN PRICE MUELLER, NJ ADVANCE MEDIA GROUP
If we file taxes separately, what happens to interest from joint accounts?
By Karin Price Mueller | NJMoneyHelp.com for NJ.com Q. My wife and I are both older than 65 and we each receive a federal civil service pension. My pension is higher than the $100,000 cutoff for the pension exclusion. My wife’s pension is $40,000 so we plan to file separately this year. How is our interest income divided between our two returns? We have some Certificates of Deposit (CDs) in each of our names and some are joint. We also have savings bonds in her name but I act