Does this fall under... it is always something. This 'something' involves social security benefits, taxes, retirement planning and money. One prevalent myth that continues to exist is that social security benefits are not taxable. Well, yes and no and it depends. Which is probably not the solid answer you are seeking. Who Determines If Social Security Benefits Are Taxable? That depends on where you live. The Federal government and Internal Revenue Service determine income thresholds which … [Read more...] about Does Your State Tax Social Security Benefits? The ‘Lucky’ 13
social security benefits taxable
Tax season continues and as statements are gathered, income is calculated, deductions are itemized and the annual question arises for Social Security beneficiaries, are my Social Security benefits taxable and by how much? History Of Social Security Franklin D. Roosevelt signed the Social Security Act on August 14, 1935. Collecting of the tax began in January 1937 and recipients received a lump sum payment in January 1937. Regular monthly distribution of benefits began in January 1940. Ernest … [Read more...] about Are Social Security Benefits Taxable?