About one-third of SSA beneficiaries have to pay tax
Published 01/12/2012, DL-Online
Q: Do I have to pay taxes on my Social Security benefits? A: About one-third of people who get Social Security have to pay income taxes on their benefits. Based on taxable income, some pay no tax on Social Security benefits, some on up to 50 percent of benefits and some on up to 85 percent of benefits. No one pays federal income tax on more than 85 percent of his or her Social Security benefits.Word count: 481
The full article is available to newspaper subscribers. If you are a subscriber please log in to continue reading.