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2. Tax Changes Florida Retirees Need to Know About For 2025 - AOL

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   “Unless Congress acts, the lifetime estate and gift tax exclusion will revert to $5 million per individual, adjusted annually for inflation, as part of the sunset of portions of the Tax Cuts and ...

3. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   The IRS considers an individual to be 65 on the day before your 65th birthday. So when claiming your standard deduction for 2023, you can take a higher standard deduction amount if you were born ...

4. 6 Hidden Tax Breaks for Retirees - AOL

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   When you hit age 72, or age 70 1/2 if you are 70 1/2 before January 1, 2020, the IRS requires that you start taking required minimum distributions from your retirement savings in qualified plans ...

5. How all 50 states tax retirement income: A ... - AOL

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   Retirees don’t pay state income tax on their Social Security benefits or pensions in Alabama. But your 401(k) and IRA withdrawals are fully taxable at the state’s 2% to 5% income tax rate ...

6. Florida’s Retirees Are Staying: 20 Florida Cities With the ...

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   For retirees moving from high-tax states like New Jersey, where residents pay an average $8,797 thanks to the state’s 2.47% average effective tax rate, moving to Florida can feel like a windfall.

7. 8 Tax Breaks Retirees Can Prepare to Use for 2024 - AOL

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   Consider tax diversification: Maintain a mix of taxable, tax-deferred, and tax-free accounts (like Roth IRAs) to provide flexibility in retirement income planning.

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9. IRS Tax Brackets: Here’s How Much You’ll Pay in ... - AOL

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   To help you quickly figure out which IRS income tax bracket you’re in, check the IRS federal tax table for 2021: Federal Tax Brackets 2022 for Income Taxes Filed by April 18, 2022 Tax Bracket