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Taxation of Social Security Benefits--Know the Rules, Avoid Surprises - GoBankingRates
Despite repeated claims to the contrary, your Social Security benefits are still being taxed. The One Big Beautiful Bill provisions from last year did not change that, although they did include a $6,000 individual tax deduction that has the tendency to offset the income tax for certain qualified taxpayers.
Guven that the taxation process itself has not changed, it’s still important for anyone drawing Social Security benefits to understand the rules. GoBankingRates’s senior writer Jordan Rosenfeld covers the taxation issue in a post on their website, explaining the thresholds used to determine where the tax kicks in, the effects of filing status, and how changes on a tax return can signal that more Social Security income may be taxed the folwoing year.
Check out Ms. Rosenfeld’s post here and avoid unpleasant surprises at tax filing time.
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