INCOME AND TAXATION

INCOME AND TAXATION

RETIREMENT INCOME AND TAXATION When you retire, you will need income to finance your normal living expenses. You should consider what the sources of that income will be, and how that income will be taxed. Knowing the general outlines of the taxation of different forms of income may influence your decisions about investing your savings. What do you need to know about income and taxation? Below are some of the typical types of retirement income and a description of how they are taxed. Although this list does include many common…