Where Should You Call Home in Retirement?
Are you planning on retiring soon? There are a lot of things to consider and prepare for when you’re ready to call it quits and start enjoying the so-called “golden years,” especially when it comes to your financial future. One of the most important matters to take care of is how your taxes will affect your retirement. There are many different factors to consider, but one of the most important is simply where you live.
The Best
So what are the best states to call home after you hang up your working shoes for good? There’s a reason that Florida is the butt of many senior citizen jokes, but perhaps surprisingly, according to Kiplinger’s Personal Finance, the Sunshine State is only the tenth most tax-friendly state to live in for retirement. Other states in the top 10 on Kiplinger’s list from nine to one include South Dakota, Louisiana, Arizona, Delaware, Georgia, Mississippi and Nevada at number two. Taking home the top spot is Alaska.
The Worst
On the other end of the spectrum these 10 states scored the worst as far as being tax-friendly goes. In order from 10 to 1 they are: New York, New Jersey, Nebraska, California, Montana, Oregon, Minnesota, Rhode Island, Connecticut and Vermont. So there you have it. If you’re looking for a new tax-friendly place to call home when you decide to retire then consider these lists closely.
Why Are These Wealthy Taxpayers Angry About Taxes?
Why Are These Wealthy Taxpayers Angry About Taxes? By Alan Olsen In most cases, when you hear about someone being angry about taxes, you automatically assume they think they’re paying too much. Nearly all taxpayers think they pay too much, no matter their income level. But for the most part, wealthy taxpayers tend to be…
Last-Minute Tax Tips for High Net Worth Taxpayers
Last-Minute Tax Tips for High Net Worth Taxpayers If you’re one of those taxpayers that like to wait till April to file his or her taxes, then there are still some new things you should know about before you file. That’s especially true if you’re a high net worth individual or an investor. By now,…
What Should You Do if You Can’t Pay Your Tax Bill on Time?
What Should You Do if You Can’t Pay Your Tax Bill on Time? The 2019 tax season is in full swing and it’s already come with several changes and surprises. One of the biggest surprises is the number of taxpayers that are either getting a much smaller refund, or not getting a refund period. However,…
Could This Year’s Tax Refund Be Bigger Than Last Year’s?
Could This Year’s Tax Refund Be Bigger Than Last Year’s? If you’ve heard anything about the 2019 tax season, it’s probably that refund amounts are way down. That storyline has made a lot of news. And opponents of the Tax Cut and Jobs Act (TCJA) have definitely used it as “proof” that the changes were…