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Taxing Your Social Security Benefits - NASDAQ
Fresh on the heels of the 2022 income tax filing season, this article reveals that although most U.S. states don’t levy a State tax on Social Security benefits, there are a dozen U.S. states which do. And while most beneficiaries focus on the size of their monthly payment, many are surprised to find that their benefits may be taxable income, at either or both the federal and state level. Social Security benefits are subject to federal taxation if certain income thresholds are exceeded, and twelve U.S. states my also tax your benefits, each to a varying degree. All of this is explained in this NASDAQ article by Selena Maranjian – click here to read more.