article thumbnail

The accountant’s guide to state taxes on retirement income

ThomsonReuters

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

article thumbnail

The 10 Best Property Taxes By States in 2021: Move Here to Save Money!

LyfeAccounting

Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. Louisiana has very attractive property tax rates. Nevada’s effective property tax rate is just 0.6%

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The 10 States With the Lowest Property Taxes in 2021

LyfeAccounting

Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. Louisiana has very attractive property tax rates. Nevada’s effective property tax rate is just 0.6%

article thumbnail

Data Dive: The Yes, No, Gotcha! Edition

PYMNTS

The wait can be even longer for lower-income consumers who file for the earned income tax credit or the additional child credit. H&R Block and Liberty Tax Services both offer a similar promotion to get customers through the door, promising early, interest-free tax refund loans of $500-$3,000 for qualified customers.

Tax 42