Income Taxes on Social Secuity Benefits

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #1  
Old 12-18-2007, 12:51 PM
chacam chacam is offline
Senior Member
Join Date: Jul 2007
Posts: 419
Thanks: 0
Thanked 0 Times in 0 Posts
Default Income Taxes on Social Secuity Benefits

In a nutshell, cam someone explain how to figure out what percentage of social secutity benefits are taxable? I think that up to 85% of benifits are taxable but last year only about 50% of my benefits were taxed. If my income increases from other sources, I think the taxable amount of social security goes up. Is that right?

is there an easy formula to figure that out? The IRS work sheet is confusing.

Thanks
__________________
Oswego, NY, Auburn, KY
  #2  
Old 12-18-2007, 01:27 PM
DickY's Avatar
DickY DickY is offline
Veteran member
Join Date: Jul 2007
Location: Village of Duval
Posts: 519
Thanks: 0
Thanked 2 Times in 2 Posts
Default Re: Income Taxes on Social Secuity Benefits

Remember, your dealing with the Federal Government and the IRS, they don't know the word "easy". (I worked for the IRS in another lifetime). The SSA link on the FAQ for taxes is http://ssa-custhelp.ssa.gov/cgi-bin/...i=&p_topview=1
>
__________________
Harrisburg, Pa ----------> Village of Duval
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 09:15 PM.