taxes
Take steps to avoid a surprise tax bill
“Nothing is certain except death and taxes.” – Benjamin Franklin It is easier to pay your taxes while working; taxes are withheld from each paycheck. However, for retirees, you will pay federal income taxes on your benefits if your combined…
Get Your Social Security Benefit Statement (SSA-1099)
Tax season is here, and we’ve made replacing your annual Benefit Statement easier. There’s no need to wait on the phone or make an appointment to visit a Social Security office. Continue reading here… The link provided above connects readers to…
Are Social Security benefits taxed?
Do you have to pay income taxes on your Social Security benefit? About 40 percent of people who get Social Security must pay federal income taxes on their benefits. However, this usually happens if you have other substantial income in…
Have you already paid your taxes for 2025
In the wee hours of New Year’s Day, over 229 Americans had already paid their Social Security tax for 2025. Compare this to the 164 million Americans who pay Social Security tax all year long. If there were no cap…
Only 9 States Still tax Social Security Benefits
Stefan Walters for The Motley Fool explains that although Social Security may be subject to Federal Income Tax, there are 41 states that do not tax Social Security benefits. More states are getting rid of state income tax on Social…
How soon will taxes be eliminated?
One of the biggest surprises for newly retired individuals is that they may have to pay federal taxes on their Social Security benefits. The Social Security Administration states, “About 40 percent of people who get Social Security have to pay…
Your tax bill could be much lower depending on where you retire
Most of us know the famous Ben Franklin quote about taxes; “Nothing can be said to be certain, except death and taxes.” However, times have changed when it comes to taxes. Retirees may or may not have to pay state…
Retired military service members may be eligible for tax benefits
Are you a veteran? Are you unsure whether your military retirement pay is taxable? “Military retirement income combined with income from a civilian job or a spouse’s income can push Veterans into a higher federal income tax bracket, according to…
How to Achieve Maximum Social Security Benefits
In this article by Stefon Walters for the Motley Fool the significance of the wage base limit is discussed. This is the highest income earned that pays Social Security taxes. For 2025, you will not pay Social Security tax if…
Are you guilty of napkin math?
Are you guilty of “napkin math” when deciding when to take Social Security? I think we all are, but how reliable is the math? Do you have all the necessary information to make an informed decision? Dana Anspac explains how…