Rhode Island
If you are living here and you meet certain age and income requirements, congratulations, because the state of Rhode Island offers some significant tax benefits for qualifying retirees.
For example, if you have reached full retirement age, as defined by the Social Security Administration, and your retirement income falls below some thresholds, you will get your tax burden reduced following the next set of rules.
Married Filing Jointly: The Social Security benefits are fully exempt for couples with an adjusted gross income (AGI) of less than $126,250. In case you are single or fall under other filing statuses, the exemption applies to retirees with a federal AGI of less than $101,000.
I agree, Social Security should not be taxed; however, because it’s “social” security, each individual should only get back in benefits what they put in minus the “social” cost for those who are disabled and unable to continue working and contributing during their working years. Also the tax cap on earnings should be increased considerably. To say 1-2 Million in income. The tax for everyone could then be reduced, especially for those who don’t earn more than say, 30 to 50k. I.e., Make the tax progressive like other income based taxes.
SS should not be taxed, I’m retiring in 1 year
and 9 months. We all have paid taxes all of I working lives and it’s our turn to get something back.
No taxes on Social Security while paying into while working . That’s double taxing a retirees
It is a waste of government resources to tax anyone under the median income. It only invites more government programs to return the money in the form of services at a premium.
As a disabled/retired teacher I knew SS would be low enough! But MY government wants to “double dip” me? Not ethical. Not affordable!! Total slap in the face……barely breathin’ here!!