QUESTION
Will I have to pay federal income taxes on my social security benefits?
Asked on Apr 15th, 2015 on Taxation - Michigan
6 ANSWERS
Personal Injury Attorney serving Greenville, SC
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The Greene Law Firm, P.A.
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Social Security taxes are sometimes taxable. It depends on how much you earn per year from SS and other sources.
Answered on Apr 21st, 2015 at 10:26 AM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Mankus & Marchan, Ltd.
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http://www.kiplinger.com/article/taxes/T051-C000-S001-are-your-social-security-benefits-taxable.html
Answered on Apr 17th, 2015 at 12:42 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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Depending on how much other income you have, none or part, but not more that 85%, of your social security benefits are taxable.
Answered on Apr 16th, 2015 at 2:13 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Depending on your other income, SSI benefits can be tax free or partly taxable. If your income is under $30,000 SSI is tax free. If your income is higher, a percentage of your SSI is taxable.
Answered on Apr 16th, 2015 at 9:02 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Yes, they changed the law. Welcome to the brave new world of diminishing benefits for you "investments".
Answered on Apr 16th, 2015 at 9:01 AM
Up to of the SSS benefits are taxable if you have enough other taxable income to push you over the threshold (which threshold depends on marital & filing status). If SSS benefits are your only income, then no.
Answered on Apr 16th, 2015 at 9:00 AM