When You Need to Pay Taxes on Social Security
When You Need to Pay Taxes on Social Security © (Getty Images) Senior woman doing her finances Retirees who have several sources of income, including pensions, retirement account withdrawals or part-time work, might have to pay taxes on part of their Social Security benefit. The federal government taxes up to 85% of Social Security payments for seniors who earn more than a specific threshold, but never taxes the full benefit. Here's how to tell if your Social Security benefit is taxable: Individuals with a combined income between $25,000 and $34,000 are taxed on 50% of their Social Securi...
Source: msn.com