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Is your Social Security benefits taxed in your state?
Although it may come as a surprise to many people to learn, both the federal government and your state could end up taking a part of your Social Security retirement checks and leaving you with less money to live on. The Internal Revenue Service takes a cut once your provisional income exceeds certain income thresholds of $25,000 for single filers or $32,000 for married joint filers. Christy Bieber explains why retirees in 13 states risk losing more of their Social Security benefits through taxation. Read Ms. Bieber’s article here…
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