What is taxable?
We live in times when almost everything is subjected to taxes, and we sometimes end up not knowing what is taxable. This becomes even more challenging and quite annoying, when we reach our golden years and here comes Uncle Sam taking his (not so) fair share of our income.
On a federal level, there are three types of incomes that can be taxed: your pension, your thrift saving accounts, and your social security.
However, on a state level, it depends on each state what kind of taxes apply to you and what don’t. So, if you are planning to relocate once you reach your retirement, or in the near future, choose your state wisely.
