The article Some States Propose to Eliminate Tax Breaks for Seniors draws attention to State proposals to eliminate exemptions for IRA distributions and pensions. Facing large budget deficits, politicians in Michigan, Georgia and Hawaii are considering eliminating these tax exemptions for retirees. See also, State Tax Breaks for Seniors on the Chopping Block, Forbes, Mar. 2, 2011.
Posted by Isaac Pflaum, Associate Editor, Wealth Strategies Journal

Leave a comment