States Attract Retirees With Favorable Taxes
States are wooing retirees with tax breaks. On average, retirees pay only half the state income tax levied on working-age people, according to researchers at the University of New Hampshire and Georgia State.
Seven states — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming — don’t tax personal income at all. New Hampshire and Tennessee tax interest and dividends but not other income. Still, these states may not offer the best total deal for seniors because other states have crafted special programs that reduce taxes and fees across the board.
Considering everything, here are the states that tax experts say offer the best deals for residents older than 65:
1. Georgia
2. Pennsylvania
3. Mississippi
4. Illinois
5. Michigan
6. Kentucky
7. New York
8. South Carolina
9. Delaware
10. Louisiana
Source: Forbes, Ashlea Ebeling (06/28/2010)
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Ten New Tax Breaks for Homeowners
Congress’ inclusion of home energy incentives in the $787 billion stimulus plan it passed in February has a steady stream of customers heading to Manhattan’s Green Depot, a nationwide chain that carries environmentally friendly and sustainable housewares such as LED light bulbs and cork flooring. Most popular? Solar products, says Brian Tereza, the store’s general manager.
That could be because as part of the plan, buyers of solar water systems are eligible for a 30% tax credit for the initial purchase and installation cost. That’s good news; systems often run between $6,000 and $10,000. The credit is available through 2016, a sizable window to cash in on the benefits of lower-cost energy, and is available to those who use the solar system to heat their home’s water, not that of hot tubs or pools. Full story.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Ten New Tax Breaks for Homeowners.
Congress’ inclusion of home energy incentives in the $787 billion stimulus plan it passed in February has a steady stream of customers heading to Manhattan’s Green Depot, a nationwide chain that carries environmentally friendly and sustainable housewares such as LED light bulbs and cork flooring. Most popular? Solar products, says Brian Tereza, the store’s general [...]