Tags: Retirement | retirement | North Dakota | disabled seniors

Disabled Seniors Guide to Retiring in North Dakota

By    |   Wednesday, 10 Jun 2015 09:17 AM

When planning to retire as a disabled American, it is important to know what  services all the states you're considering provide for disabled people. Luckily, most of the information can be found online, and the rules and programs for North Dakota are no different. North Dakota is not only considered one of the best places to retire in general, it is also a great place for veterans, including those who are disabled.

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According to WalletHub, North Dakota is the eighth-best state in the country for military retirees in 2015. Further, the site ranks North Dakota as first for having the best job opportunities for military retirees and the third-best housing prices in general.

There are also tax credits for those who are disabled, both in general and from service in the military. For retirement income taxes in the state, a total of $5,000 can be excluded from civil service, some state and local government, military, and other qualified pensions. However, according to the Retirement Living Information Center, this upper amount can be reduced based on how much money has been awarded by Social Security. Additionally, there are special conditions for those who already have or could receive disability status from combat injuries. Whoever satisfies these qualifications can receive a broad exemption from North Dakota's income tax.

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There is also a tax credit called the Homestead Tax Credit. Disabled residents who own or rent a home in North Dakota can apply for this credit. To be completely eligible, applicants and their families, meaning the applicant, a spouse, and any dependents, cannot have a combined income greater than $26,000 in the calendar year before being assessed for the credit. Further, the assets belonging to the applicant cannot exceed a value of $75,000. If applicants meet all of these conditions, they can receive as much as $4,500 in credit for their income taxes.

Retiring is not exactly easy for anyone, and it can be even harder for those who are disabled. North Dakota has several tax exemptions and credits in place to help those who are disabled spend their golden years in peace and without unnecessary financial strain.

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When planning to retire as a disabled American, it is important to know what services all the states you're considering provide for disabled people. Luckily, most of the information can be found online, and the rules and programs for North Dakota are no different.
retirement, North Dakota, disabled seniors
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2015-17-10
Wednesday, 10 Jun 2015 09:17 AM
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