Plenty of Retirees Spend One Winter in Arizona and Never Move. One Reason Comes Up Every Time
Retirees who winter in Phoenix love what they see, but full-time residents face a season that snowbirds never pay for, and that one season changes the entire financial case for moving. Retirees who winter in Phoenix often face a season that they never pay for, which changes the financial case for moving. The Definitive Guide to Retirement Income helps readers understand the difference between building a portfolio and living off one. Arizona taxes all income at a flat 2.5%, and it allows residents to subtract “the amount included in federal adjusted gross income pursuant to section 86 of the internal revenue code, relating to taxation of social security” under A.R.S. § 43-1022(10). This means that Social Security is untaxed at the state level and IRA withdrawals are taxed at a low, flat rate. The cost of living in Arizona is also considered a factor, as Phoenix homes sell for a median of about $452K and the median effective property tax rate in Maricopa County is 0.46%, compared with a national median of 1.02%.
Publicado : hace 4 horas por David Beren en Weather Finance
Retirees who winter in Phoenix love what they see, but full-time residents face a season that snowbirds never pay for, and that one season changes the entire financial case for moving.
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