Social Security and Taxes: How Well do you Understand the Relationship?
In yesterday’s Headline post on this site, we made a glancing comment about the taxation of Social Security benefits. Referring to this often unexpected situation as “double taxation,” we linked to an article describing how federal (and state) taxes are levied on monthly Social Security benefits. Overall, yesterday’s post covered, in a quick read, several basic Social Security issues that newcomers should know to avoid surprises.
Today, we’re going to explore this taxation issue a bit further, using a ten-question quiz posted by Kiplinger contributor Jamie P. Hopkins, Esq., CFP, RICP. Titled “Social Security and Taxes: Take the Quiz,” Hopkins’ post gives readers the opportunity to test their knowledge of several key areas of this extensive program. At the end, you’ll be able to compare your quiz results with the averages of other quiz takers so you’ll know how you stand in relation to others. It’s an interesting exercise, and you can access it here…