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In Georgia State Income tax exempts pensions from tax up to…

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In Georgia State Income...

In Georgia State Income tax exempts pensions from tax up to $65,000 but it does not double it for married couples filing jointly. Our (my) pension income is $125,000 and we pay GA tax on $60,000. Can I pay my wife a pension of $60,000 and deduct it from my income?

Accountant's Assistant: Have you discussed this with a manager or HR? Or with a lawyer?

No

Accountant's Assistant: Are you an "at will" employee? Do you belong to a union?

No, I am retired since 2004.

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

My pension is from Illinois where pensions are not taxed at all. As long as we have lived in Georgia (since 2006) we have paid state income tax on everything over $65,000. If my wife had worked and earned a pension hers would be tax free up to $65,000.

Submitted: 4 months ago.Category: Tax
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3/15/2018
Tax Professional: Tax.appeal.168, Tax Accountant replied 4 months ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
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Tax Professional: Tax.appeal.168, Tax Accountant replied 4 months ago

To answer your question, you would not be able to pay your wife a pension. A pension is defined as follows:

A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan" where a fixed sum is paid regularly to a person, or a "defined contribution plan" under which a fixed sum is invested and then becomes available at retirement age.

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