State and federal taxes based on your income. Assuming you make less then when you were working you would be in a lower tax bracket. You can google the tax brackets.If I were to retire at 58 for instance, what taxes do you pay ?? All normal taxes ?? I read that we wouldnt pay SS tax but would pay federal and certain state taxes it. Looking for retirees under 60 basically to see how hard we get taxed. Thanks
If I were to retire at 58 for instance, what taxes do you pay ?? All normal taxes ?? I read that we wouldnt pay SS tax but would pay federal and certain state taxes it. Looking for retirees under 60 basically to see how hard we get taxed. Thanks
my UPS pension
my wifes State pension
my SS
my wifes SS
my state pension
income from township job (I still do a little work for them)
most pay outs from our investment portfolio
all taxed
my military disability ck
not taxed
what level of disability?
my UPS pension
my wifes State pension
my SS
my wifes SS
my State pension
income from township job (I still do a little work for them)
most payouts from our investment portfolio
all taxed
my military disability ck
not taxed
No state income tax on pensions here.
I think Mn. is # 5 or 6 on being the most heavily taxed state. We have to live in an icebox and they still tax you all to hell. About the only breaks we get are we don't have a personal property tax and you don't pay sales tax on clothes or food bought at a grocery store.
Same here for clothing and food. But, we have the highest gas tax.
If I were to retire at 58 for instance, what taxes do you pay ?? All normal taxes ?? I read that we wouldnt pay SS tax but would pay federal and certain state taxes it. Looking for retirees under 60 basically to see how hard we get taxed. Thanks
My state and federal taxes come out of my pension each month. You fill out a W-4 and it's up to you how much you want withheld.I’m not retired yet, but from what I’m told it’s $100 federal taxes on each $1000.00, and they don’t take out state taxes - you have to save a little each month then pay state taxes at tax time , save $60 a month.