Taxes on Social Security Income: 3 Things to Know

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Title	:	Taxes on Social Security Income: 3 Things to Know
Lasting	:	6.03
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Roth IRA conversions
Comment from : George Benton Jr

Another illegal double tax
Comment from : Mark Joslin

Are you talking about combined income when both ate taking socual security or of working income? What if one of a couple is entirely civil service and the other draws social security?
Comment from : Jeannie Staller

bROCH DUNGCA-SCHREIBER/b helped me achieve my retirement goals with her personalized advice and support
Comment from : Sanae Fes

76 also, getting clipped on withdrawals from annuity, which is dwindling because I can't make my monthly payments & costs on the Soc Sec amount!
Comment from : Charles Soukup

INCOME TAX IS THEFT
Comment from : macjc5

FHKH THE CRIMINAL & ILLEGAL IRS
Comment from : macjc5

THAWHY DISTRICT OF CRIMINALS NEEDS A GIANT ASTEROID!
Comment from : macjc5

BECAUSE WE ARE RULED BY CRIMINALS AND MOST PEOPLE ARE BRAIN DEAD
Comment from : macjc5

A small correction In tier one ($32K to $44K combined income for joint filers) 50 of SS that brings combined income above $32K is taxable Similarly 85 of SS that brings combined income above $44K is taxable For example consider a couple with $25K non SS income and $20K of SS income Their combined income is $35K Since that is more than the $32K threshold 50 of the $3K of SS that pushes combined income above the $32K threshold would be taxable giving a $265K taxable income However, since $265K is less than the standard deduction for a couple, there would be no tax due In other words it is more complex that you make out This is all very clear if you look at the SS security worksheet in the 1040 instructions
Comment from : Todd Dunn

TAX IS ILLEGALIT IS BULLSHIT WE PAY TAXESTHIS BULLSHIT GOVERNMENT SPENDS TRILLIONS ON CRAP THE GOVERNMENT NEEDS TO BE RIPPED COMPLETELY DOWN AND RESET ABSOLUTELY DIFFERENT BY NEW FRESH MINDSAS FOR YOU SIR TO HELL WITH YOUR SUPPORTING THIS BULLSHIT YOU NEED TO TEACH PEOPLE FUCK YHOSE TAXES
Comment from : David Bush

Would someone who understands that Social Security payments will start to decrease by 23 in 2033 for everyone getting it, do a financial comparison of getting it at 62, 67, and 70 years of age if the person receiving it was born in July 1962?
Comment from : Cecilia Ornelas

Im having ssa take 7 from my ss check monthly, to help cover some of the tax
Comment from : J r

We pay taxes when we where yang and we pay taxes when we are older I call that robbery
Comment from : Frank Galarza

I am a retired military veteran and I would like to know is VA disability considered income? I have yet to see a video mention this scenario I hear 401K, pension, etc Once I start getting my SS benefits, do I have to add my nontaxable VA benefits as income?
Comment from : Sue

Taxing SS is criminal
Comment from : TC

Thank you Jimmy Carter for taxing SSA
Comment from : Rick Williams

My father made it his mission to avoid paying taxes Tax free municipal bonds are tax exempt 4 bond returns on a $400k investment, is $16k tax free annual income And you maintain your assets
Comment from : Keith Hults

Worked examples would be most helpful Why not take the median SS income and other income such as pensions of singletons and couples and show how tax is calculated for these 'average' persons?
Comment from : Marcus Stewart

So many people at my work in their 70s (some are 73, 75, 77) but still working full-time Will a big chunk of their SS be taxed by IRS? As I recall vaguely, one of them told me that if she quit working past 70, she was going to get $3K per month SS, but since she came back to work full-time, her SS after IRS taxes, went down to under $2K! That's a lot of SS gone!
Comment from : Yanni P

I ran the inflation numbers from the beginning of 1985 to the end of 2022 based on social security colas It was a 280 increase That would be 70,000 for singles and 90,000 for couples today Not raising the inflation rate is a pretty smooth way to cut people's social security
Comment from : terry bumpass

Cut SS benefits by 50 Best way to end debt limit crisis Greedy seniors should do a little something for America
Comment from : Jack Dreddle

Time to petition the government
Comment from : hildeberto carreiro

What about the Eight different states that Do not tax Social Security and Pension plan ?(Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming – don't tax wages, salaries, dividends, interest or any sort of income No state income tax means these states also don't tax Social Security retirement benefits, pension payments and distributions from retirement accounts) You already paid taxes while working now that your collecting Social Security that you paid for while working you might want to re think if you want to participate in double dipping or move at one of the eight states that don't do double Dipping??
Comment from : 60 Old Fart

I wish people making these videos wouldn't talk like accountants Most people watching these are here to get simple information
Comment from : Douglas Martin

That was a lot of useless information😮
Comment from : Greg Starr

For people living in KY After 59 1/2 years of age, you can rollover to Roth up to $31000 every year and not pay state tax
Comment from : Practical Shooter

This is a good video, I want to use this say something, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Mrs Rose Gardner
Comment from : Van Nguyen

So I am single If I make 18000 a year in dividend income and 17400 a year in SSI will i have to pay any taxes??
Comment from : RC Dyer

What the government does not understand Over 65 Retired, small pension and social security, making under $25k a year, while I withhold income tax with IRS and get a small refund it is soon gone to Property Tax Property tax is $4k and house/car (both paid off) insurance is $4k due to high Market values SO with that being said, what do I live off of Stress How can I maintain my house No wonder Seniors have crappy housing My researched showed that paying tax on Social Security after retirement is to help pay back the deficit that the government took out
Comment from : Sg

My Social Security annual income is $14,500 Can I start working making $14,000 A year and pay Zero tax?
Comment from : John Kennett

It's important to know that Roth distributions do not count as income and hence won't affect your social security benefits
Comment from : Jermaine Stewart

I want Donald Trump’s tax plan He is rich but pays less tax than me, a factory worker What law allows this to happen? It’s unfair that low income people pay higher taxes! Maybe it’s time for a rebellion of senior citizens!!!
Comment from : Janis Payne

Why can a single person that makes these video's answer the simple question Do I have to pay taxes if my ONLY income is from social security They keep talking about combined income instead of answering the simple question
Comment from : ROBERTO ROJAS JR

Seams like?
Comment from : R Lee

Biden promised to increase the combined income limits from $25,000 and $32,000 respectively to $50,000 and $57,000 After not seeing an increase for 26 years, It's about time congress did this Just my humble opinion
Comment from : RobtJude

when is the best time to take social security????
Comment from : Susanna Bruemmer

Used to be that at age 72, you could make as much as you wanted from any source and get to keep your SS My dad's boss's wife in the late 60's used her SS to buy booze They lived in a wealthy neighborhood
Comment from : Hott Puppy

there is no taxes on social security when you were working the taxes where already taken out for social securityi have been social security for six years and taxes have never been taking outbryou don't know what you are talking about
Comment from : Robert Martinez

What a scam! The social security tax table, has never been adjusted for inflation A COLA increase is always below real inflation
Comment from : Pura Vida

there is no trust(or lock box as clinton calls it) the criminals spend fica taxes as fast as it comes in
Comment from : james Dey

they triple tax youfigure it outfricking thieves
Comment from : ramon long

In my 70s have not given the government any taxes in many years because I'm in a low tax bracket
Comment from : V1-Vr-Rotate V2-VY_VX

Well, there is no trust fund Currently paying out 20 cents of every dollar asbrborrowed money Yes, not enough people working/paying the tax brThis is AKA a Ponzi scheme Age increase to start collecting is the NEXTbranticipated change comment please
Comment from : Ted Lahm

Here’s subject for you Hubs and I retired and started drawing SS at 62 The first year of retirement he was able to cash in some stock options that he earned several years before retiring During the 2nd year of retirement SS called the stock “wages” so they initiated a penalty on the amount over $19k (don’t recall the actual number but you probably know it) We called SS and they mentioned that it might not be chargeable, and to research and appeal Sure enough, “bonuses” earned in years prior to taking SS aren’t considered as the penalty wages So glad we inquired about it, the sum was significant
Comment from : Srbboo

I worked for 44 years And I still have to pay tax Do retirees should not have to pay tax Because we did our time I'm 66 You're old that's ridiculous
Comment from : Jonathan Goodwin

Social security was a scam from the very beginning when it came into being in August 14, 1935 At that time, the minimum age for retirement payout was 65 years old However, the average life expectancy in 1935 for men was 617 and 651 for women and most women did not work fulltime The life expectancy dropped 4 years straight from 1935 to 1940 and for men it did not exceed 65 until 1949
Comment from : badweetabix

I didn't find this video helpful I found it disturbing Social security trust? You do realize that when social security was formed we were told that it wouldn't be touched They lied, and every so often we keep getting told that social security will be out of funds by the time we retire That's why they want you to work until 70 They figure you'll die prior, or soon after starting to collect Now you're saying 85 is taxable, and they calculate this by including untaxable income We the people did not approve this scam
Comment from : K Z

Progressive tax does not mean "the more you make, the more you pay" That would also be true of a flat tax Progressive taxation means that the more you make the higher rate you pay
Comment from : donb1183

Taxes on social security? Not seems like double taxing, IT IS DOUBLE TAXING!
Comment from : ginger cox

Is VA disability payment considered non taxable income for SS tax?
Comment from : Ted Enderpal1

Nicely done Short, clear and to the point Thanks
Comment from : T Shooter

Chock full of information Hope you can elaborate on Roth Conversion strategies
Comment from : domari nolo

Will my Roth 401(k) and Roth IRA account be subject to income tax if I wait until I’m 67 to collect Social Security ?
Comment from : Silver Honda

They haven’t raised the darn $44K in the past 20 years Why ??????
Comment from : Bonnie Watch

what if social security is your only income?
Comment from : tonewill

The government is screwing us any way they can
Comment from : Jerry Friday

Would love to have seen some examples and what to look out for in the way of errors that will cost you more taxes
Comment from : Steve Vet365

What a croc of shit the system is
Comment from : Chomp Normski

Every person who dies after 65 should have the epitaph “Murdered by the US Government” on their tombstone The government does everything possible to take back the small amount of money that you worked all those years to receive
Comment from : Dale Potter

MANUELPUNINCUJI
Comment from : Curtis Chambers

Ronald Reagan gave us taxes on Social Security Good ole Republicans…
Comment from : Hold On

1) one example of the taxes should have been explained example single person makes $100 over the 50 allowed br2) how to get social security to take out taxesbr3) every other YouTube channel that covers this information do cover #1 an example br4) no other YouTube video I've seen covering this doesn't cover #2
Comment from : Dead2Self

In other words the government screws us over even in retirement
Comment from : Donna Crosby

Oh, theirs that dirty phrase 'Social Security Trust'
Comment from : George AKA Dad

The comment “taxes on social security go into the SS trust fund, not the general treasury,” is a distinction with little relevance, the trust fund is invested in treasuries, ie, lent to the Treasury or general fund These days, with more and more retirees, the Trust Fund balance is going down, so the trust fund is slowly seeking repayment from the treasury
Comment from : Robert Ewalt

SS taxes should be much higher It is an undeserved benefit and the increased taxes could help pay down the deficit
Comment from : Carlos Ruiz

76 years old and still giving the government a lot more than they give me You would think after working 50+ years a person would get a break?
Comment from : Glade Goodrich

t is rarely a good idea to begin collecting SS before 70 Why the rush to be first in line at the Federal welfare trough??
Comment from : Walter Knox

Why are those who want to live by the Lord, do the right thing and gets "married" instead of "shocking up" why are we penalized for doing this? My check dropped $15000 as soon as I got married It's like those of us who do the right thing are financially penalized,meanwhile those who are living in sin are rewarded for it!
Comment from : Hazel Wears

Social Security is insurance Therefore it should be tax free
Comment from : Robert Lomax

At 3:40 you stated to add in any "non taxable income" I don't understand why you add in non taxable income when determining if SS is taxable
Comment from : Richard Miller

This government does nothing but rob its people All they care about is collecting as much of our money as possible Funny how this country turned into what it initially thought it was getting away from
Comment from : localone

This is double jeapardy as they are taxing your paid in ssi tax They sure are bent on keeping non elites poor and struggling Taxing working income is one thing but to penalize Americans ssi they earned w/hard work is theft We have already been overtaxed on ssi This is why they will add $140 to $170 back to your monthly ssi check after applying for additional benefits not given automatically They have made trillions off your money for decades in interest which could have been working for you tax payer Now they want more and I'll bet they over tax your tax tax again By the way, there is no social security fund It was depleted years ago by these fiscal idiots that have built sub level tunnels that stretch across the US & north south w/mach 2 trains and some 300 shelters stocked with all needed supplies for hundreds for ten years at a cost of many trillions of dollars instead of maintaining and upgrading our infrastructure They couldn't care less about homeless hungry Americans nor there health nor wellbeing when war and chaos pummel us as they will be snug in their shelters at you enormous expense They have sold Americans out They are criminals & we are their victims They are desperately seeking new tax schemes to pay for their fiscal apathetic indiscretion and frivolous massive spending They are the founders of cooking the books You don't really think the military pays $385 for a standard screw driver or $650 for a toilet seat I saw the requisition documents w/ prices at benchstock Actual cost is a few dollars, the rest goes to secret programs and projects
Comment from : Mark Rouse

That was a BS law passed by the Clinton Administration where the Senate was split 50/50 and Al Gore cast the tie breaking vote That's one of those things the people should have rose up and marched on Washington DC over
Comment from : Robert Karp

Does ex presidents pay taxes?
Comment from : Oscar

Any guess when the 'combined income' limit might go up? 1993 is a long time ago
Comment from : Daniel B

Any income ? Or work income ?brI make $33k on state pension
Comment from : Him Bike

SS sent me a letter saying I get $1571 brAs of March 2023 on my 62nd birthday brSo will they take out taxes ?brAnd I should get $1200 Net ? brThx
Comment from : Him Bike

It is double taxation
Comment from : Paul Vest

😎
Comment from : Danny Medina

Would that income include VA disability income?
Comment from : Jim Fromearth

One pays social security as a tax only to be taxed on the taxable payout when returned to the initial payer Sounds about right
Comment from : K9 Companion

Thanks for you video brThanks for your help brIf I collect in 2022brWill I recive the COLA in 2023 and 2024 Thank you
Comment from : Patrick Kleeman

I am retired and have not yet taken my SS Does combined income include my pension? This is my only income
Comment from : Arlene M

I am already receiving social security why is social security taxes being taken out of my paycheck from my new job?
Comment from : Steven Sloan

America treats its senior citizens with no respect We are considered consumers not citizens If only we lived in a Democracy where one vote equals one vote Not the crazy electrol college
Comment from : Bruce C Hollywood

is this right? I would pay no taxes on the first $32,000 of my SS and 50 on any SS between $32,000 and $44,000 which would be taxes on $12,000 ,which is a maximum of $6,000 taxed and 85 taxes paid on any SS over $44,000 if married?
Comment from : craig hazlewood