Georgia - Tax Break for Working Seniors

As many seniors have comfortably settled into their newfound life of leisure, there are a good many who for any number of reasons must continue to work in order to maintain their daily status quo. True, there are many people who choose to work beyond their established retirement years for reasons other than making ends meet, but for those who do not have a choice and are trying desperately to attain financial independence, watching the paycheck whittled down by taxes is exasperating.

Fortunately, for those seniors aged 65 plus, Georgia Governor Sonny Perdue has vowed at a dinner among fellow GOPs to eliminate taxes on retirement income earned by this group. According to an article at VoteSonny.com, Governor Purdue was quoted at his “2006 Victory Dinner” as saying, “If given the honor of a second term, this is my first promise to the people of Georgia. We will completely eliminate the state income tax on retirement income for seniors 65 and older.” Already in 2005, a law was signed allowing seniors to exclude $25,000 of their income from state taxes. In the upcoming November election, a homestead exemption measure approved earlier this year allowing those citizens 65+ from the state portion of the property tax will come to a vote.

The elimination or reduction of taxes paid by seniors in the state of Georgia would be a positive for seniors, especially those living on a fixed income. I look forward to following the progress on this and hope that other states that tax senior workers at the state level will make an effort to do the same.

If you live in Georgia or are planning a move here, you can write or call Governor Purdue’s office and voice your support for this proposition. If you live in another state and would like to see your governor follow suit, you may want to do the same. We as voting seniors need to unite and let those with the power to affect our lives and our pocketbooks know what we expect.