JohnB5677
Employee Tax Expert

Retirement tax questions

@VolvoGirl is correct.  

 

  • Once you meet the income threshold for Social Security it starts to be taxed.
  • Incidentally, 50% of your Social Security is included in the  threshold amount.
  • Once you have to pay on your Social Security, it accumulates very quickly.  
  • You pay on the income you received, PLUS pay on at least 50% of your Social Security.
  • The threshold amount includes 50% of Social Security plus all other income including tax free investments.

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