March 23, 2017

How to figure taxes on Social Security Benefits

 Are My Social Security Benefits Taxable?  How to Understand Form SSA-1099 and Determine whether You Owe Taxes
"Depending on the amount of alternate income that you have in retirement and your filing status, you could owe taxes on up to 85% of your Social Security benefits." When you receive Social Security income, "you will also receive a Form SSA-1099 from the government. This form tells you the total amount of your benefits but does not tell you if any of your benefits are taxable, or at what percentage." Read this article to understand if you owe income taxes and how to calculate the amount:

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