Saturday, April 2, 2016

The 15 tax-friendliest states for retirees

15 BEST STATES FOR TAXES ON RETIREES




Retirees have special concerns when evaluating state tax policies: Are Social Security benefits taxed? Does the state impose its own estate tax? Are there property tax breaks for seniors? The answers can greatly affect the financial well-being of someone living on a fixed income.
These 15 states impose the lowest taxes on retirees, according to Kiplinger's 2015 analysis of state taxes. All but one of them exempt Social Security benefits entirely from state taxes. Most exempt at least a portion of other retirement income, such as pensions and withdrawals from tax-deferred retirement plans. Read more...

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