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home | Taxes | BEST STATE TO RETIRE TO TAXWISE!
 

BEST STATE TO RETIRE TO TAXWISE!
Ivan Gillis
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           BEST PLACE TO RETIRE DOLLARWISE

 

Alas, there is no list.

 

Because every person/couple should do their own calculation, even the assorted charts and lists can leave out key information.  A recent chart by Kilpinger's has Dover Delaware, being the best place to retire taxwise.

 

However, it is based on their set of factors, and leaves out a lot that affect someone with a different set of factors.  Prime example is the tax-free income is cut of at $12,600.  So if one had $30,000 of retirement income their tax burden would change.

 

We suggest you consider these factors when calculating your taxes and other costs in retirement.

 

  • Property Tax
  • State Income Tax and % and type of income taxed
  • Inheritance & Estate Taxes
  • Vehicle and personal property tax
  • State Sales Tax and what is taxed
  • Cost of living
  • Medical Care Costs
  • Cost of Moving (if that is your choice)
  • Weather effects (if any)
  • Hassle factor to travel

 

The following links are to tables listing the total tax factors of the various states:

 

Alabama-Iowa

 

http://retirementliving.com/RLstate1.html

 

Kansas-New Mexico

 

http://retirementliving.com/RLstate2.html

 

New Mexico-Wyoming

 

http://retirementliving.com/RLstate3.html

 

So please don't use a chart and/or list to make your selection of a retirement home location, but use the links provided and calculate YOUR costs to assist in making a choice.

 

 




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