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Eldercare
Reply to "Is PA a good place to retire?"
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[quote=Anonymous][quote=Anonymous]It's a popular place to retire because of the lack of taxes on pensions. A friend of mine moved her parents to a 55 plus community that is right over the Maryland border. Her parents are retired feds and their community is FULL of other people from the DC area because of its location. Lots of the other residents and/or their families drive back and forth to the DC area on weekends. [/quote] But don’t forget that there’s an inheritance tax that needs to be paid. Pennsylvania is one of only two states that takes inheritance tax from children of the deceased. The only way to pay 0% inheritance tax is for the spouse or a charity to be the beneficiary. So, yes, you save by paying no tax on pensions, but the state eventually gets their cut when you die. [/quote]
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