Massachusetts Retirees

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Believe it or not, some retirees come to Massachusetts for their golden years. When this happens many retirees bring with them an out of state pension (and yes, pensions still exist) and every pension is treated differently. Some out of state municipal pensions such as Hawaii can be fully excluded from your Massachusetts income, others such as Idaho are fully taxable. Two of our neighbors, Maine and New York, are partially excluded. Some out of state pensions still require that you file a tax return for the source state. Retired public safety officers can receive preferential tax treatment on their Federal return. I have one thing to say about this: “Truly you have a dizzying intellect” – Wesley

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photo credit: imchrismacdonald via photopin cc

For more information, call Alex Franch at 781.789.7200. WorthTax has locations in Norwell, Dedham, and Weymouth, Massachussetts.
Alex Franch

Mr. Franch is a Tax Specialist and Partner at Joseph Cahill & Associates / WorthTax. He has a diverse background including a Bachelor of Science from Boston College in Mathematics and extensive military service. Mr. Franch is an Enrolled Agent and has eight years of tax preparation experience. He has been serving individuals, families, and businesses for several years with tax and financial planning strategies and is a junior partner with the firm. Mr. Franch is licensed by the Financial Industry Regulatory Authority (FINRA) with a Series 6, 63, 65, and 7, and by the Commonwealth of Massachusetts Division of Insurance.