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37 states that do not tax social security benefits



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Many people assume that when they go on pension, taxes becomes less a problem, however, the reality is that seniors are responsible for taxes like adults. "data-reactid =" 1
1 "> Many people assume that when they retire, taxes become less of a problem. The reality, however, is that seniors are responsible for taxes like adults.

For example, if you have a traditional IRA or 401 (k), the payouts you take from that account during retirement will be treated as ordinary income and taxed accordingly. Similarly, if you are investing in a traditional brokerage account, you pay taxes on their related winnings.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt 0.8em) – sm" type = "text" content = "In fact, many seniors are surprised to learn that their own Social security benefits are taxable at federal level, the only exception being for those with minimum pension income – namely, seniors living alone on social security . There are also some states that impose a social security tax – 13 to be accurate The good news There are 37 states that do not require seniors to pay social security tax at state level, so if you live in one of these, you can keep a little more of yours money. "data-reactid =" 13 "> In fact, many seniors are surprised to learn that even their social security benefits are taxed at federal level. The only exception is for those with minimal pension income – namely seniors living alone on social security. There are also some states that impose a social security tax – 13 to be precise. The good news? There are 37 states that do not require seniors to pay tax on social security at state level, so if you live in one of these, you can keep a little more of your money.

IMAGE SOURCE: GETTY IMAGES.

<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) States that do not tax social security " data-reactid = "26"> States that do not tax social security

If you live in one of the following states during retirement, you can rest easy by knowing that your social benefits will not be taxed at state level:

  1. Alabama
  2. Alaska
  3. Arizona
  4. Arkansas
  5. California
  6. Delaware
  7. Florida
  8. Georgia
  9. Hawaii
  10. Idaho
  11. Illinois
  12. Indiana
  13. Iowa


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