Tag: retirement taxes
The brief’s key findings are: Households nearing retirement may forget that not all of their retirement resources belong to them, as they will need to pay some portion in taxes. The question is just how large the tax burden is for a typical retired household and for those at different income levels. Using the Healt…
Abstract To evaluate their retirement resources, households approaching retirement will examine their Social Security statements, defined benefit pensions, defined contribution balances, and other financial assets. However, many households may forget that not all of these resources belong to them; they will need to pay some portion to federal and state government in taxes. It is…
