The number of structured settlements has grown greatly over the last several decades and probably includes many people that you may not realize are your neighbors and friends in Cherry Hill, Fort Lee, Hackensack, Jersey City, Roseland, and the surrounding areas. These people are getting tax-free future payments from their settlements, and many times this is because they talked with our experts at Settlement Funding Associates. We have been dealing with structured settlements and tax-free future payments for several decades and can help you have the same results. Contact our office today to learn more.
Why Structured Settlements Feature Tax-Free Future Payments
You might be wondering about the ability to receive tax-free future payments. It all starts with the judgment for damages for personal injury, physical sickness, or workers’ compensation. These are not considered income, and as such are not subject to taxes. But what people find when they work with our team at Settlement Funding Associates is that they can stretch these dollars over a longer period of time instead of just a lump sum.
When you agree to a structured settlement where you receive money over a period of several years, all of these payments are tax-free future payments. The entire amount is tax-free, but rather than get a lump sum you are providing yourself a stream of money coming in for years. Better still is that when the full amount of money is put into an annuity and doled out in payments, any interest that you might earn on this annuity is also tax-free. These tax-free future payments can be a very nice supplement to your other income that you earn and are taxed.
Get The Right Help To Set Up The Payments
When you are entering into a structured settlement, it is important that you have a trusted partner to help provide you with the details of tax-free future payments and what that means to your budget as well as your tax situation. We work with clients all over Cherry Hill, Fort Lee, Hackensack, Jersey City, Roseland, and the surrounding areas, and can work with you on your situation. Contact our team today to learn more about how our years of experience will make a difference in your case.