How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Shawn P Adamo Your Own Question
Shawn P Adamo
Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Finance
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
15641319
Type Your Finance Question Here...
Shawn P Adamo is online now
A new question is answered every 9 seconds

We have recently retired and thinking of moving closer to most

Customer Question

We have recently retired and thinking of moving closer to most of our family. Washington is not a income state tax but Oregon is so would we have to pay taxes on our SS and IRA's
even though we didn't earn any of that money in Oregon?
Submitted: 1 year ago.
Category: Finance
Expert:  Shawn P Adamo replied 1 year ago.
Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. CPA,PFS,QFP,GMMA.
Oregon collects state income taxes using a progressive, five-bracket system.
For single taxpayers and married couples filing separate returns:
•5 percent on the first $3,300 of taxable income.
•7 percent on taxable income between $3,301 and $8,250.
•9 percent on taxable income between $8,251 and $125,000
•9.9 percent on taxable income of $125,001 and above.
For married couples filing jointly, qualifying widow or widower and head-of-household taxpayers, the rates remain the same but the tax brackets are doubled.
Expert:  Shawn P Adamo replied 1 year ago.
Oregon taxpayers can subtract from their state taxable income some or all of the federal tax they paid.
Expert:  Shawn P Adamo replied 1 year ago.
If your combined income is less than about 34,000 as a couple SS is not taxed at the federal level.
How much will you be receiving from IRA distributions? Is that your only other income?
Expert:  Shawn P Adamo replied 1 year ago.
Please stay with me online.
Does this answer your question about OR tax rates?
Do you have other questions?
Would you prefer a telephone call?
Expert:  Shawn P Adamo replied 1 year ago.
Have I answered your question? I'll offer you a call to clarify anything.
If you are all set please rate me.
Expert:  Shawn P Adamo replied 1 year ago.
Please rate me with an OK (at least). It costs you nothing extra and that is how I get paid.

Related Finance Questions