Your federal income taxes will probably be lower during the retirement years.

Question

Quizplus · Accepted Answer

Many individuals have lower income during retirement compared to their working years, which often results in falling into a lower tax bracket and thus paying less in federal income taxes. Additionally, certain types of retirement income, such as Social Security benefits, may be taxed differently or not at all, depending on overall income levels.

Your Federal Income Taxes Will Probably Be Lower During the Retirement