Oh, Uncle Sam, how you like taking pieces of our retirement savings… Taxes do help our country a great deal, but that doesn’t mean having to pay taxes at all is pleasant. Still, year after year we fill out forms and say goodbye to our money.
Are there ways in which you can avoid parting with your money? Well, for the most part, taxes are inevitable, but some states do offer tax breaks. That’s exactly what we’re going to talk about today in case you were wondering about how other seniors cope with taxes.
And, if you’ve ever thought about moving during retirement, this is a great place to start. By looking at which states will tax you the least amount you can start zeroing in on communities you’d like to move to and be a part of.
Without further ado, here are 12 states that won’t tax your retirement income and everything you need to know about senior finances!