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Tyrone J. Taylor
Tyrone J. Taylor, Enrolled Agent
Category: Tax
Satisfied Customers: 52
Experience:  Owner at Taylor Tax and Financial Consulting
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Several people I know who are retired from PERS do not have

Customer Question

several people I know who are retired from PERS do not have to pay income tax on their retirement income. Why do I have to pay income tax on my retirement iincome?
Submitted: 1 year ago.
Category: Tax
Expert:  Tyrone J. Taylor replied 1 year ago.

Hello Joy,

There are many reason why you have to pay taxes and others do not. All things being equal, you should not. But we know everyone's situation is different.

Some of your income could be from taxable income, while some of the people you know may be receiving non-taxable income. Or, they may receive less money than you, or they may not be quite truthful in their statements.

As a tax professional, I have heard this questions asked many a time, but generally it is based upon why is my refund smaller than my friend/associate/co-worker. It is usually because everyone' situation is more different than we realize.

I wish I could be more definitive with my answer, but unfortunately without comparing two tax returns side by side, I am limited to the information I have provided.

Thank you for allowing me to discuss with you your situation. If you have another question, please let me know. If not, if you could please rate the answer I have provided to your question, I would appreciate it. Have a good evening!

Expert:  Tyrone J. Taylor replied 1 year ago.

Good afternoon,

I am just checking to see if you had any further questions about your issue. If not, please go ahead and provide a rating to my answer as that is how your question is closed out in my system. Thank you and have a great day.