If you’re planning for retirement, one key question to ask is whether South Carolina tax retirement income. The answer is good news for retirees—South Carolina is one of the most tax-friendly states, offering significant savings for those in their golden years.
Why South Carolina is Tax-Friendly for Retirees
No Taxes on Social Security Benefits
Retirees in South Carolina do not pay state taxes on Social Security benefits. This provides a significant boost to your income and allows you to stretch your retirement savings further. For many retirees, this means more money for travel, hobbies, or simply enjoying life.
Retirement Income Deductions
South Carolina offers a generous retirement income deduction for residents aged 65 or older, allowing them to deduct up to $15,000 annually from taxable retirement income. This applies to pensions, IRAs, and 401(k)s, helping retirees reduce their overall tax burden. Younger retirees, under 65, can also deduct up to $3,000.
Low Property Taxes
South Carolina’s property taxes are among the lowest in the nation. This makes homeownership more affordable, especially for retirees seeking low-maintenance living in communities like Founders Club. With energy-efficient homes and easy upkeep, you’ll enjoy both cost savings and comfort.
Why Retire in Moore, SC?
Moore, South Carolina, offers retirees a unique combination of small-town charm and modern amenities. Located near Greenville and Spartanburg, Moore provides easy access to healthcare, shopping, and cultural activities. At Founders Club, you’ll find colonial and Georgian-style homes designed for active adults, featuring spacious layouts, energy-efficient designs, and a strong sense of community.
South Carolina’s Tax Benefits Make Retirement Easier
South Carolina’s tax policies make it easier to focus on what matters—enjoying your retirement. Whether you’re spending time exploring outdoor activities, connecting with neighbors, or relaxing in your low-maintenance home, Moore is the ideal destination for retirees looking for a vibrant and affordable lifestyle.
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