Social Security Report

The Average American Pays Tax on 42% of Social Security Benefits. How Do You Compare?

Millions of Americans rely on Social Security for income during retirement or in times of disability. Yet many Social Security recipients are shocked to discover that some of their benefits can be subject to income taxation. In fact, taxpayers include a surprisingly large percentage of their Social Security benefits as taxable income, essentially having the IRS eat into the limited financial resources they have during their golden years. Read More…

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