KIPLINGER’S HITS AND MISSES OF 2012
Tax-friendly states for retirees
HIT: Alaska. It’s purely based on the numbers, Bodnar said. The state’s strong economic position allows it to cut some tax rates: one example is homeowners 65 and older getting a break in property taxes.
MISS: Connecticut isn’t extending the welcome mat for retirees, Kiplinger’s said. Social Security benefits are only excluded from state income taxes if your adjusted gross income is less than $50,000 (for couples, it’s $60,000). That’s in addition to the state’s high property taxes, and full taxes on out-of-state government and civil service pensions.
Pictured: A welcome-to-Connecticut on Interstate 91 south at the Massachusetts border.
Associated Press/File 2004
- Choose another
- 2012’s hits, misses
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- Tax-friendly states for retirees
- Earning potential by major
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- Changes in home prices