651.292.1119 scott@ramsaycapitalgroup.com

Tax Benefit and Credits: FAQs for Retirees

Lots of questions can come up about income taxes after one has retired. Some common types of taxable income include military retirement pay, all or part of pensions and annuities, all or part of individual retirement accounts (IRA), unemployment compensation, gambling income, bonuses and awards for outstanding work, and alimony or prizes. A few examples of non-taxable income are veteran’s benefits, disability pay for certain military or government-related incidents, worker’s compensation, and cash rebates from a dealer or manufacturer of an item you purchased.

*This information is not intended to substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁷

Footnotes and Sources

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Securities and advisory services offered through J.W. Cole Financial, member FINRA, SIPC and a Registered Investment Advisor. J.W. Cole Financial and Ramsay Capital Group, Ltd. are separate and unrelated companies.

Advisors must be properly registered in the state where you live in order to conduct securities related business with you. A response to your request for information might be delayed in order to assure our compliance with this regulation. No information provided on this site is intended as a solicitation to buy or sell any security. No security will be offered or sold to any person, in any state in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdictions.
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IMPORTANT CONSUMER INFORMATION
This site is for informational purposes only and is not intended to be a solicitation or
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Ø Representatives of a Registered Broker-Dealer (“BD”) or Registered Investment
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We are registered to offer securities in the following states: AZ, CA, FL, IA, IL, MN, MS, NC, TX, WA, WI

Tip adapted from IRS.gov7

Footnotes and Sources

Tip adapted from IRS.gov⁷