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Will your Social Security benefits be taxed?
If Social Security is your only source of income, than you probably won’t have to pay any income tax on your Social Security benefits. But, thanks to a law enacted in 1983, if you’re single and have combined income over $25,000 or Married-Filing Jointly with a combined income over $32,000, then a portion of your Social Security benefits will be taxable. How much? This Motley Fool article explains how taxing of Social Security benefits works, and offers a few tips on how to soften that blow. Click here to read more.
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