Tax-Friendly States for Retirees

For many, retirement is all about having a laid-back life. That is why for retired citizens out there, they have to look for places which provides convenience when it comes to taxes. This is ideal for retirees who are looking for real estate where they can spend their retirement.

Best Places to Retire

An article by the Tax Foundation reports that in 2008, Americans will be spending more taxes on food, housing and clothing. This may prove to be a hassle on retirees. That is why as much as possible, they have to search for places in the United States where sales or state income taxes are low or does not exist at all.

Below are places with low or no state sales and/or income tax.

Billings, Montana

Cheyenne, Wyoming

Henderson, Nevada

Doral, Florida

Manchester, New Hampshire

Nashville, Tennessee

Juneau, Alaska

Sioux Falls, South Dakota

Stafford, Texas

Spokane, Washington

 

Why retire in these places?

For those with no state sales tax, Billings, Montana is an example, while for those with no state income tax, Sioux Falls, South Dakota is another example. Meanwhile, for those who wish to work after retirement, Spokane, Washington has low tax rates when it comes to business.

This type of retirement feature is best for those who are aged 50 and above. Cities like Juneau, Alaska where a Senior Sales Tax Exemption Card can be availed for a fee of $20 or Cheyenne, Wyoming are both ideal to individuals in this age range. And it is worth checking out.

With the present economic crisis, such places for retirees are truly a haven when it comes to having their own place to stay. These areas within the US provide an advantage to those who want to save more of their retirement incomes.

 

Posted by Ardent Editor on Dec 22 2008 in Retirement Life

  • Sponsors