3 Tax Surprises Retirees Need to Know About
Taxes are a part of life -- whether you're deep in the throes of your career or you've left the workforce behind. But while workers often know to anticipate taxes, retirees can often be caught off guard by them. With that in mind, here are a few tax surprises every senior should have a heads-up on.
These days, pensions are less common -- that's why so many workers are encouraged to save independently in an IRA or 401(k) plan. But if you are privy to pension payments in retirement, you should also prepare to have that income taxed. Though there are some exceptions, for the most part, you'll lose a chunk of that money to the IRS.
Image source: Getty Images.
Source Fool.com
