Calculating tax on Social Security - The Sun

Many Social Security recipients are surprised and angry every April when they find out they owe taxes on their Social Security benefits. Why? According to current tax law, up to 85 percent of Social Security benefits are included in taxable income. Are the taxes solely based on Social Security benefits, or are they part of your combined income? What is the current threshold for calculating taxes on Social Security? Karina Mitchell outlines the current income thresholds your benefits are taxed and how the rules for taxing benefits could change in the future. Read Ms. Mitchell’s article here…

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