It’s no secret why Arizona – and the Phoenix area, in particular – is such a great place to retire. Endless sunshine, beautiful surroundings and relatively low property taxes make area locations such as Sun City especially attractive for retirees. A US News & World Report study places this famed retirement haven third among places with the most retirees in the nation, with a whopping 66 percent of its population over age 65, as of 2010.
And, there are other reasons why Arizona rates highly for retirees: Kiplinger’s names us as one of the tax-friendliest states in the nation, thanks in part to our relatively low income tax rates and exemptions on Social Security income. These financial benefits are more than just icing on the cake for seniors already in love with the area. They can also add up to major savings at tax time, enabling you to do more of what you enjoy. We’ve created this visual guide to help you navigate some of the important numbers you’ll need to know at tax time.
Please note that Allstate Life Insurance Company or its agents and representatives cannot give legal or tax advice. The brief discussion of taxes on thispage may notbe complete orcurrent. The laws and regulations are complex and subject to change. For complete details consult your attorney or tax advisor.
Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. (877) 525-5727. Check the background of this firm on FINRA’s BrokerCheck website.
Recommended by the Editors: