This is great news during tax time.

The following is an email I received from a client:
I’ve been talking with Brad concerning my taxes, and a point came up about GA taxes being applied to my RMD’ s. According to him I qualify for a program called ” Retirement Income Exclusions “. Bottom line is I don’t need to have GA state taxes applied to my RMD’s. Which also means I get more $$ per pay period, and that’s a really good thing!
The Retirement Income Exclusion applies in many States, here is what is says:
Retirement income exclusion refers to the exclusion of taxes on retirement income12. The first $6,000 of retirement income received by anyone 65 years of age or older is exempt starting in 2023. To take this exclusion, the pensioner or retirement income recipient must meet one of the following conditions: 1) 55 years of age or older on December 31, 2021, 2) disabled, or 3) a surviving spouse or a survivor having an insurable interest in an individual who has qualified for the exclusion in 2021 on the basis of age or disability.*