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Well less income means less tax and less of your Social Security will become taxable.
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0
Well less income means less tax and less of your Social Security will become taxable.
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0
Thank you very much for the reply. Is there a formula to figure out the amount saved?
Married filing jointly definitely over the threshold you described.
Are you a professional available to advise with specifics? I would want to take that off this platform.
Thank you,
Danelle
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