tag:blogger.com,1999:blog-4615566302085141880.post5170037215193757987..comments2024-03-28T17:32:23.208-04:00Comments on A Boomer Girl's Guide - Embracing MY 70’s: Ah, taxes are so complicatedJuhlihttp://www.blogger.com/profile/14440147890620303894noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4615566302085141880.post-16443663732559071662015-04-23T07:47:05.333-04:002015-04-23T07:47:05.333-04:00I agree with you there. I'm thinking of paying...I agree with you there. I'm thinking of paying someone to check on my pension when I retire. Apparently, the state always gets it wrong (and not in your advantage). Sometimes, forking out some money is well worth it !Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4615566302085141880.post-2385360811770185832015-04-15T15:26:19.548-04:002015-04-15T15:26:19.548-04:00I had never heard of such income exclusions which ...I had never heard of such income exclusions which is why I didn't claim it for 4 years for myself and 1 year for my husband. The short version is that currently in Georgia at age 62 citizens may exempt up to $35,000 individually (or $70,000) of retirement income per couple from the state income tax. You don’t have to be retired, just have retirement income which is defined as including but not be limited to interest income, dividend income, net income from rental property, capital gains income, income from royalties, income from pensions and annuities, and no more than $4,000.00 of an individual’s earned income. At age 65 the caps are much higher.Juhlihttps://www.blogger.com/profile/14440147890620303894noreply@blogger.comtag:blogger.com,1999:blog-4615566302085141880.post-76485491406438532962015-04-15T13:32:59.123-04:002015-04-15T13:32:59.123-04:00Arrrggg... those K1s and their unique deadline. I ...Arrrggg... those K1s and their unique deadline. I guess it's a good problem to have but I really wish all types of tax-based documents were due to us at the same time. <br /><br />Good that you found out about the tax deduction available when you turn 62 in Georgia. I'm pretty sure we don't have anything like that in California so take advantage of it now! Anonymousnoreply@blogger.com