I have been looking to relocate to either South Carolina or Georgia.I have been researching the income tax benefits for seniors andthought SC was pretty good but it appears GA beats SC hands down, I think.
From what I am reading if you are over 65 and filing a joint return, you can deduct the following,
$3000 standard deduction
$7400 joint exemption
$3000 wife exemption
$1300 over 65 exemption
$65,000 (up to) deductible from various income
Of course, like many states, they also do not tax SS payments.
For me, it leaves very little income to be taxed.
Am I missing something?
From what I am reading if you are over 65 and filing a joint return, you can deduct the following,
$3000 standard deduction
$7400 joint exemption
$3000 wife exemption
$1300 over 65 exemption
$65,000 (up to) deductible from various income
Of course, like many states, they also do not tax SS payments.
For me, it leaves very little income to be taxed.
Am I missing something?
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