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Are Social Security Benefits Taxed?

By April 27, 2019No Comments

If you receive Social Security from the federal government on a monthly basis, you may be wondering if it is taxed.   Some of your friends don’t get taxed, other friends do. Why?

The tax treatment of your Social Security benefits is dependent upon the other income you earn individually or with your spouse.

Individuals earning less than $25,000 from all sources, and couples earning less than $32,000 from all sources see all of their social security earnings, untaxed. At the other end of the spectrum, those earning more than $34,000 as individuals or $44,000 as couples, including wages, investment income and all other sources, will see 85% of their Social Security taxed.

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