• Question
  • Taxes on Social Security Wages

    Asked by someone from Orangevale, CA on 3/21/2018

    Fully reitred and not working. Do I every pay taxes on Social Security wages

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  • Categories: Taxes, Retirement Planning

Answers

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  • You may pay federal income tax on Social Security benefits if you have substantial income from wages, self-employment, interest, dividends or other taxable investments.

    The earnings thresholds vary based on individual filer and joint filer status, and the percentage of Social Security income taxed changes based on the amount earned. You will never be taxed on more than 85% of your Social Security benefit.

    Here is a link to more information about tax thresholds:
    https://www.ssa.gov/planners/taxes.html

  • Login to rate this answer:   Answered on 7/19/2018
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.