Social Security taxation
Thoughts on Dealing With the Dreaded Federal Income Tax on Social Security Benefits
It often comes as a surprise (and not a pleasant one, at that) to the newly retired when they file their federal income tax return after beginning their Social Security retirement benefits and find that receiving this benefit ups their…
Taxation of Social Security Benefits
As the old saying goes, only two things are certain, and one of them is taxes. Many new Social Security beneficiaries are surprised (and perplexed) to learn that their benefits are subject to income tax if their combined income from…
More on the Downside of 2023’s COLA
The extraordinary cost-of-living adjustment scheduled to appear in January Social Security benefits is a welcomed influx of cash for the 70 million Americans dealing with the inflationary pressures so prevalent in the U.S. economy. An 8.7% bump will help many…