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Tractor Talk Discussion Forum

Re: 5 most tax unfriendly states to retirees

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jm.

08-22-2013 13:09:08
99.196.156.96



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TENNESSEE NO STATE INCOME TAX, Low property taxes, About the only thing is sales tax right at 10% Not a bad place to retire.




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Chip812

08-22-2013 13:25:18
216.226.180.3



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 Re: 5 most tax unfriendly states to retirees in reply to jm., 08-22-2013 13:09:08  
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But if you're retired, you won't have any income to tax.... Just saying...



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oldtanker

08-23-2013 06:08:37
66.228.255.116



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 Re: 5 most tax unfriendly states to retirees in reply to Chip812, 08-22-2013 13:25:18  
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Not true. There is not tax in most states on Social Security but most often other retirement income is indeed taxable.

Rick



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rrlund

08-23-2013 09:46:52
207.241.137.116



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 Re: 5 most tax unfriendly states to retirees in reply to oldtanker, 08-23-2013 06:08:37  
Don't overlook capital gains on investments. I remember one year,back when I was milking cows,I owed enough that I could have bought a new pickup with the money. An uncle who had some good investments at the time said he had to pay enough to buy two new cars.



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rrlund

08-22-2013 13:16:04
207.241.137.116



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 Re: 5 most tax unfriendly states to retirees in reply to jm., 08-22-2013 13:09:08  
That's where I've got my eye Jerry.

'Course after the talk that Lee and I had,it sounds like the drug situation there could be a bit of a problem in some areas.



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jm.

08-22-2013 14:52:40
99.196.156.96



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 Re: 5 most tax unfriendly states to retirees in reply to rrlund, 08-22-2013 13:16:04  
Drugs Sure no worse around here than most places and really probably not as bad here where I am. We are 100mi west of Nashville , pretty rural area. See and here of meth ever now and then but that is about it.



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Larry NEIL

08-22-2013 13:15:00
76.202.252.106



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 Re: 5 most tax unfriendly states to retirees in reply to jm., 08-22-2013 13:09:08  
Illinois ain't too hot either. Second worse State concerning pension fund and other debts. So far, the only thing the State legislature can do is kick the can down the road, but when they finally get around to really paying it off...look out for a huge splash of new taxes.



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