Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

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

Customer Question
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: 1 month ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 7 hours by:
3/15/2018
Tax Professional: Tax.appeal.168, Tax Accountant replied 1 month ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,583
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
Verified

Hello. Thank you for choosing this Q&A service for assistance. My name is***** will be assisting you. I am prepping my response, which I will provide to you in the next thread(s).

-----------------------------

Note that telephone call and other solicitations are automatically generated by the site and not the experts. If you are not interested, simply decline.

Still writing...

Ask Your Own Tax Question
Tax Professional: Tax.appeal.168, Tax Accountant replied 1 month 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.

-------------------------------------

In closing, my goal is to provide you with the best experience possible! Hopefully, the service that I have provided has earned a 5-star rating! Please remember to rate my service by selecting the 5 stars at the top of the screen before you leave today. Thank you in advance. If you require further assistance, use the reply box and let me know.

Ask Your Own Tax Question
Was this answer helpful?
Ask Tax.appeal.168 Your Own Question
Tax.appeal.168
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,583
4,583 Satisfied Customers
Experience: 3+ decades of varied tax industry exp. Tax Biz owner

Tax.appeal.168 is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,451 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

56 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,124 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
My Indiana state tax exemption certificate asks for a 10
My Indiana state tax exemption certificate asks for a 10 digit number and my s.s. And tid is 9 digit. Why would you need a 10 digit anyway? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Retired receive a monthly pension GROSS 1260.0 single 0
Retired receive a monthly pension GROSS 1260.0 single 0 exemptions only federal withheld, am being told federal tax withhold monthly same as married 0 exemptions monthly? Is this right? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I need to file a tax form. Its a new LLC with no income, no
I need to file a tax form. Its a new LLC with no income, no business was generated. Is someone avaiable to help me with this now?… read more
Shan-Nel Simmons
Shan-Nel Simmons
Tax Professional/Owner
Master\u0027s Degree
43 satisfied customers
Looking for estimated tax rate for 500,000 income in 2017.
looking for estimated tax rate for 500,000 income in 2017 … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,451 satisfied customers
What is the income level threshold for filing in the state
What is the income level threshold for filing in the state of Florida? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am a retired State Farm Employee on company pension. I
I am a retired State Farm Employee on company pension. I have a W2 that has in box 12 a code M $17.19 and code N $4.02 and I can not figure out where to enter these amounts on my 1040 form … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Is military retirement income taxable in the state of
Is military retirement income taxable in the state of Hawaii . I asked this question before and was told that military retired pay was not taxable in Hawaii.what's your opinion?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Are military retirement and FERS retirement exempt from
Are military retirement and FERS retirement exempt from wisconsin state taxes? … read more
Tax.appeal.168
Tax.appeal.168
Tax Accountant
4,583 satisfied customers
I'm retired only income is my pension and, And my social
I pay out of pocket for a caregiver - $32,000 - I am bedridden. My total income is $58,000 - do I key the caregiver salary are a medical deduction? … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
Received Canadian Form NR4, Income Code 02, and exemption
Received Canadian Form NR4, Income Code 02, and exemption code S. How is this reported on form 1040 … read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
I am retired us citizen collecting ss benefits, my incom is
I am retired us citizen collecting ss benefits, my incom is smal and I do not pay any taxis, I have disabled child who is collecting 1/2 disabled ss benefits, I decided to move permanently to Poland, … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,962 satisfied customers
Are Non-Service-Connected Pension benefits for Veterans
Are Non-Service-Connected Pension benefits for Veterans taxable income … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am a retired California pension recipient living in
Hi - I am a retired California pension recipient living in Hawaii. I have two pension sources - one from San Francisco and one from San Diego. The San Diego 1099R designates $34,993.91 as taxable (box… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Wife and I file jointly and are retired with pensions from
Wife and I file jointly and are retired with pensions from State of NJ. Also have unearned income such as dividends etc. No earned income. If we move from NJ to SC in 2018 in middle of year and claim … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
938 satisfied customers
I am a retired judge. I have a large state pension. It IS
I am a retired judge. I have a large state pension. It IS NOT taxed in Illinois. If I move to Missouri, do I have to pay Missouri income tax on the pension. … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
938 satisfied customers
What is the federal income tax exemption for a single tax
What is the federal income tax exemption for a single tax payer for 2017? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
Reporting pension and social security income on both Forms
Reporting pension and social security income on both Forms 1040 and 1041? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am presently retired and receive a pension from the State
I am presently retired and receive a pension from the State of MA although i live in CT. My wife is planning on retiring in June of 2018 and will receive a pension from the state of CT. I also receive… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x