February 22, 2018

31 Weird Things About Retiring You Probably Didn’t Know

Retirees Qualify for Additional Tax Breaks as They Age

Retirees Qualify for Additional Tax Breaks as They Age

As you get older, you qualify for additional tax breaks at both the state and federal levels. Seniors have a higher standard deduction, and 37 states don’t impose state income taxes on Social Security benefits. Potentially the weirdest of all: In New Mexico, if you make it to 100, you don’t have to pay state income taxes as long as no one else claims you as their dependent.

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