Social Security Snapshot

South Carolina

If you’re planning a retirement escape, the warm weather, sandy beaches and low taxes of South Carolina beckon! The Palmetto State has some of the country’s most beautiful shoreline, rolling golf courses and historic districts that speak to Southern history. South Carolina does not tax Social Security retirement benefits and provides some of the lowest property taxes in the country. To get the most our of your retirement years here, enlist the services of a Social Security Advisor, that is a Registered Social Security Analyst, to help ensure you receive all of the income and benefits you’re entitled to.

Social Security for South Carolina retirees — here’s what you can expect:

  • Retirement benefits
  • Benefits for disabled workers and their dependents
  • Benefits to the families of deceased workers

You may also be entitled to:

  • Supplemental Security Income program (SSI) – a needs-based program for people ages 65+ and people with disabilities, regardless of age.
  • Assistance if you are a Medicare beneficiary with limited income to apply for extra help with the cost of prescription drugs (Medicare Prescription Drug Program.)

Social Security: It’s tax free in South Carolina

While the IRS may tax you on up to 85% of on Social Security benefits, all Social Security income is tax-free on your South Carolina state income tax return —regardless of income or the size of your Social Security benefit.

What you need to know as a South Carolina retiree:

  • South Carolina is tax-friendly toward retirees.
  • Social Security income is not taxed.
  • Withdrawals from retirement accounts are partially taxed.
  • Wages are taxed at normal rates.
  • Public and private pension incomes are partially taxed.
  • $15,000 taxable income deduction for seniors receiving any other type of retirement income.

Find a Social Security Advisor that has the RSSA credential.

If you’re planning for retirement in South Carolina, advisors that are Registered Social Security Analysts can help you gain far more Social Security income by making the optimal claiming decisions. Our clients have realized from $20K to $200K in potential additional benefits. Contact us today for a complimentary 15-minute consultation with one of our RSSA advisors.

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