Social Security Report

All About Taxation of Retirement Benefits (including Social Security) - Motley Fool

Ben Franklin once said, “Nothing is certain but death an taxes.” Especially at the Federal level, taxation of your income may be inevitable, but the story is considerably different when it comes to State income taxes. The fact is, that income tax at the State level varies considerably – 9 States have no income tax whatsoever, and an additional 4 states do not levy income tax on retirement income, such as pensions and Social Security. That makes 13 States which do not levy income tax on retirement income. And there are a handful of additional States in which only a portion of your Social Security benefits may be taxable. If you’re contemplating retirement and your future includes a possible change of residence, you’ll find this Motley Fool article by James Brumley especially interesting.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.