Episode 339 - State of Michigan, Rolling Back Taxes!

New Retirement Radio with Dennis Prout Podcast

Dennis Prout and Shea Petaja에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Dennis Prout and Shea Petaja 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

1y ago 42:43

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When taxes decline, many questions typically arise. In the case of the State of Michigan rolling back the retirement tax, copious amounts of questions and confusion seemed to reign. Today on New Retirement Radio, we will discuss the graduated change in the tax. For all Michigan taxpayers, the income tax rate dropped to 4.05% in 2023, down from 4.25% in 2022. Pension income for public servants like police officers and firefighters, state troopers and others will be fully exempt from paying state income tax in 2023. Others who receive a pension may face a graduated change in their tax through 2026. This is a big change and will have a significant impact on all Michigan residents! So be nice to your tax preparer, as they may ultimately play a more important role for you going forward! Next, Nathan will discuss less well-known benefits of life insurance policies, including utilizing cash values at or near retirement. Last, Deann brings the stats on taxes as well as stories of fishing for salmon.

Tune in and take control!

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