I've paid estimated taxes every year for my SSDI (and other income), but it's difficult to calculate correctly because my total income every year can be unpredictable. I heard I can fill out the voluntary withholding form, W4-V: https://www.ssa.gov/benefits/retirement/planner/taxwithold.html#:~:text=If%20you%20are%20already%20r....
Which percentage withholding should I choose - 7, 10, 12, or 22%? Please point me in the right direction on how to determine the best % withholding for me.
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No one on this forum can tell you how much you need to withhold ... look at your return. What is your tax rate ? How much are you short ? Which % rate is closest to the amount you are needing ? And you can also increase your withholdings on other income sources and/or pay in estimated payments.
It depends on how much other income you have. It may not be 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
.Personally I just pay the quarterly estimates and don't have Social Security withholding.
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