Federal Tax Estimations
Most Americans are required to pay federal personal income taxes,
whether it’s handled through paychecks or paid out of pocket.
Quite simply, taxes are an unavoidable and annual tax liability that can vary from year-to-year.
The Income Tax Calculator can help determine your estimated tax liability along with your average and marginal tax rates. Contact the professionals at Schell & Hogan, LLP to see how you can lower the amount you owe and put yourself in the best position to maximize your tax return.
To protect yourself from issues and avoid having too much or too little tax withheld by the government, we recommend an annual assessment of your tax withholding, available through the IRS website.
Georgia: Tax Friendly for Retirees
The State of Georgia does not tax Social Security retirement benefits and provides a deduction of $65,000 per person on all types of retirement income for anyone 65 or older. Much of the state, including the Golden Isles, enjoys moderate sales tax rates and property tax rates. As a bonus, Georgia has no state inheritance or estate tax. Click here to see the benefits for retirees in more detail.