Question:
My monthly SS payment will be Estimate $3000 per month which is $36000 a year. I am reading that I will be taxed as income on > $18000, so what is my tax liability and what rate??. So I am guessing $18000 taxable?
I will also be receiving a $750 pension which i plan to deduct $250 to pay taxes, leaving me with $500 extra income. Does that get added to my SS Income? and is that taxed on $36000 or added to $18000 SS income that is taxable ?
Is there a product or calculator that can help me??.
So basic question is: Will i get taxed on $18000 SS Income on my yearly SS income of $36000 income or is it another amount??.
Medicare question - my last 2 years of work I will make >$120k so I see from their table I will be paying at least $300 per month in Medicare Costs. Does the $300 per month REDUCE my taxable SS Income??
Thank you
