Should I take Social Security? How will it affect our taxes?

lkrpbhouse — Wed, 11 Feb 2026 09:52:59 GMT

I am 62. We are married, filing jointly. I have a small part-time job and will earn no more than $5,000 this year. If I file for SS when I turn 63 this year, I would get $2,100 per month. Husbands earns $50,000 to $75,000 this year. Will it hurt our taxes if I file for SS, assuming I start receiving payments in 2024? Thanks

Re: Should I take Social Security? How will it affect our taxes?

marctu — Wed, 26 Jun 2024 16:23:50 GMT

So this is a question of if the Social Security benefits are taxable and to what extend they are . If you file a joint tax return, your combined income will be more than $44,000 based upon your fact pattern. The taxability of Social Security benefits when filing a joint return would be:

Between $32,000 and $44,000, you may have to pay income tax on up to 50% of your benefits.
More than $44,000, up to 85% of your benefits may be taxable.

With your husband's income alone being over $50,000, 85% of your Social Security benefits, if you choose to take them will be taxable. Most states do not tax Social Security benefits. The States that do tax Social Security benefits are re Colorado, Connecticut, Kansas, Minnesota, Montana, New Mexico, Rhode Island, Utah and Vermont.

So, with 85% of the Social Security taxes being taxable, you would owe income taxes on your benefits. So, it would impact your overall tax picture. Keep in mind though that decision to take Social Security benefits is not just a tax matter. It has to be considered in concert with your overall household finances.

Thanks again for the question @lkrpbhouse

All the best,

Marc

Employee Tax Expert

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Should I take Social Security? How will it affect our taxes?

Re: Should I take Social Security? How will it affect our taxes?