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Surprising Truth: 13 States with No Pension or Social Security Taxes - Prepare to Be Astonished by #5!


States that don't tax your pension or Social Security: Simply take all the states wiht no state income tax and then add Alabama, Illinois, Mississippi and Pennsylvania. Yes, you heard that right, Illinois is one of the few states that leave your pension AND Social Security alone! Oh, don't get me wrong, they make up for it in other ways but in terms of income from retirement accounts Illinois is going to be hard to beat. ================================= GET ALL MY LATEST BLOGPOSTS: If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: Contact me: Josh@heritagewealthplanning.com GET MY BOOKS: Both are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It Strategic Money Planning: 8 Easy Ways To Put Your House In Order PODCAST: LET'S SOCIALIZE! Facebook: Linkedin: Quora: Google +: ...(read more)


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When it comes to retirement planning, one major concern for many individuals is the amount of taxes that will be deducted from their pension or social security benefits. However, did you know that there are thirteen states in the United States where residents are not required to pay any state tax on their pension or social security income? You might be surprised to learn that state number five on this list will truly shock you. Let's take a closer look at these states that could be retirement-friendly and could potentially save retirees a significant amount of money. 1. Alabama: Known for its beautiful beaches and warm climate, Alabama is also known for being tax-friendly, especially for retirees. The state does not tax social security benefits and allows taxpayers over the age of 65 to exclude up to $7,500 of income per person from their retirement accounts. 2. Alaska: If you can handle the cold temperatures, Alaska might be the perfect retirement destination for you. Not only does Alaska not levy any state income tax, but it also does not impose any state sales tax. This means that retirees can keep more of their hard-earned money. 3. Florida: Known for its retirement-friendly communities, Florida does not impose any state income tax on its residents. This has made the Sunshine State one of the most popular retirement destinations for individuals looking to make the most of their pension or social security benefits. 4. Illinois: While Illinois may have high property taxes, it does offer a major benefit for retirees. The state does not tax social security benefits and also exempts all pension income from state taxation. 5. Nevada: Brace yourself for the shocker! Nevada, popular for its casinos and stunning landscapes, does not have state income tax, which includes pension and social security income. This makes it an incredible destination for retirees looking to stretch their retirement funds even further. 6. Mississippi: In addition to its low cost of living, Mississippi exempts all retirement income from state tax. This includes social security benefits, pension income, and even distributions from retirement savings accounts like IRAs and 401(k)s. 7. New Hampshire: Unlike most states, New Hampshire does not tax wages or salaries. Furthermore, the state does not tax social security benefits or any employer-sponsored retirement income. 8. Pennsylvania: Known for its rich history and vibrant cities, Pennsylvania offers a unique benefit to retirees. Social security benefits are not subject to state income tax, making it an attractive state for retirement. 9. South Dakota: South Dakota is renowned for its natural beauty and no state income tax. Retirees can enjoy their pension and social security income without the burden of additional state taxes. 10. Tennessee: The Volunteer State is another tax-friendly option for retirees. Tennessee does not tax wages, salaries, or social security benefits, making it an appealing destination to retire. 11. Texas: With its warm weather and diverse landscapes, Texas is a popular choice for retirees. The state does not impose any state income taxes, including on pension and social security income. 12. Washington: This northwestern state not only offers gorgeous scenery but also exempts residents from paying state income tax on pension and social security income. 13. Wyoming: The last state on the list is Wyoming. Known for its picturesque landscapes and low population density, Wyoming does not impose any state income tax, making it a top choice for retirees. With these thirteen states not imposing any state tax on pension or social security income, retirees have the opportunity to keep more money in their pockets. Whether you dream of coastal living in Florida or crave the stunning landscapes of Wyoming, retiring in one of these tax-friendly states could be the key to not only enjoying a comfortable retirement but also potentially saving a significant amount of money. So, if you're planning your golden years, give these thirteen states a closer look and discover the retirement-friendly havens they offer. https://inflationprotection.org/surprising-truth-13-states-with-no-pension-or-social-security-taxes-prepare-to-be-astonished-by-5/?feed_id=120730&_unique_id=64bf44eade38d #Inflation #Retirement #GoldIRA #Wealth #Investing #beststatestoretire #HeritageWealthPlanning #howtocalculatestateincometax #JoshScandlen #nostateincometax #retirementplanning #retirementplanning2018 #retirementplanningat60 #socialsecurity #socialsecuritytax #socialsecuritytaxableincome #stateincometax #statetaxes #taxfreeretirement #taxonira #taxonpension #taxonsocialsecurity #taxonsocialsecuritybenefits #taxesinretirement #taxesonsocialsecurity #texasnostateincometax #RetirementPension #beststatestoretire #HeritageWealthPlanning #howtocalculatestateincometax #JoshScandlen #nostateincometax #retirementplanning #retirementplanning2018 #retirementplanningat60 #socialsecurity #socialsecuritytax #socialsecuritytaxableincome #stateincometax #statetaxes #taxfreeretirement #taxonira #taxonpension #taxonsocialsecurity #taxonsocialsecuritybenefits #taxesinretirement #taxesonsocialsecurity #texasnostateincometax
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