Income Taxes
How can your Social Security Benefits be Tax Free?
The threshold for Social Security benefits becoming taxable is really low and has not been adjusted for decades. Social Security benefits are taxable for a single tax filer at a combined income of $25,000 and for joint filers at $32,000.…
Dealing With Social Security’s Income Tax Consequences
One of the most unpleasant issues many Social Security beneficiaries encounter is the fact that their benefit may be subject to federal income tax. Not only is it unpleasant, but it’s also often not anticipated during the retirement cash flow…
The Growing Impact of Benefit Taxation
It’s an annoying part of the Social Security landscape, but also a likely permanent one. We’re talking about the taxation of Social Security payments to beneficiaries with income exceeding limits that haven’t been changed since 1993. This means, of course…