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How Social Security Benefits are Taxed




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Title :  How Social Security Benefits are Taxed
Lasting :   12.17
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Views :   372 rb


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Financial Fast Lane
Professional Social Security Analysis and Strategy Report || FOR MORE INFO wwwsocialsecuritylanecom/
Comment from : Financial Fast Lane


Feemye
NO SS taxation after 70 & not working -- Y/N
Comment from : Feemye


RC & Fishtanks
Good information That's why I prefer the ROTH IRA and 401k at my job I want to pay the taxes NOW Subscribed
Comment from : RC & Fishtanks


Beth Bowen
Is pension income part of this formula for the $25K and $34K?
Comment from : Beth Bowen


Jaye212
I want to make sure I understand If my SSD benefit is 27k and my Pension annuity is 9k, will I be paying taxes on a total of 11k if I don’t have any other income? Thank you for all you do to break this down for us
Comment from : Jaye212


OddBall1958
So If my SS benefit is 21,50000 and I still work and my Adj income is 21,00000 will my SS be taxed? I have a Roth IRA but not going to take anything from that until I'm 68 I'm 65 now Thanks for all of the info you've passed on to all of us Keep up tthe great work
Comment from : OddBall1958


Mike Hocking
Total BS I've worked 47 years of my 62 years I just turned 62 today I guess living on the street is coming
Comment from : Mike Hocking


Theo Russ
This and WEP are things that are complained about, but no one takes time to explain the reason for it
Comment from : Theo Russ


Fred Williams
Investment in stocks is a great way to invest your money The team is constantly checking the market for changes and make sure that you are always informed about the best time to invest As a result, I have made more money than ever before, and I don't have to manage my portfolio on my own! Invest in stocks, it's worth it!
Comment from : Fred Williams


Simply Noy
How are the thresholds set? And why are they set so low? 🤔
Comment from : Simply Noy


Keath Rhymer
it should be a law no tax on your ssi income
Comment from : Keath Rhymer


Jack Dreddle
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


Vivian Guice
It’s a sin that this money is taxed - it should be capped to those getting less -
Comment from : Vivian Guice


David Lui
You talk so long why don’t you tell us if we have no No other income, we only have Social Security income is it taxable? From my experience my accounting says My Social Security is not taxable
Comment from : David Lui


Twisted Trails
yes, SS is taxed, thanx to that actor who thot he can play president reagan he made the poor of this nation poorer
Comment from : Twisted Trails


EG
Thanks for the video Do you know if the (non-taxable) VA disability benefits are included as part of the provisional income? Thanks
Comment from : EG


Robert Frost
What bucket does a Pension Plan go into? I would guess Tax Free
Comment from : Robert Frost


Sandra
It is criminal that Soc Sec is taxed
Comment from : Sandra


David Stanton
This is our country, where ordinary people who work hard all their lives, 50 years or more, get punished for that hard work by being heavily taxed in the years when they can afford it least Shameful! Now a question I have heard that if you covert money from an annuity to a Roth IRA, you cannot touch that money for 5 years True?
Comment from : David Stanton


Jeff G
I have a question on ss threshold for a married couple If I start taking my ss benefit in 2023 with my wife working full time making $70,000 at a private business and not taking ss, is 85 of my benefit taxable? If so, any idea what the tax rate will be? Thank you!
Comment from : Jeff G


2wrdr
I would have loved to see at least one simple example of taxed SS benefits Example: Married couple, age 67 (FRA) each receives 25K SS monthly, wife receives 1K pension Assets, 401K totaling 600K, and 2 Roth IRAs totaling 60K Couple expects to live on 7K monthly Now simply show the tax tables and calculations Examples negate misinterpretations, just the facts
Comment from : 2wrdr


qazwsd qwdd
They're giving you money to another Countrythey're using you money for them too We living more poor everyday brTheys steal our money
Comment from : qazwsd qwdd


Teed Tad
Here it comes again just TAX the POOR and elderly after they already did HARD work 25 years or more!! Inflation ALONE is killing them! Got it just suffer more while government employees live in LUXURY! And by the way Sir what ever happened to the 4th stimulus check that was PROMISED to citizens of America who worked their asses off to have a good retirement only going BROKE with the cost of living!!! To make it more SiMPLE just tell us we are being ROBBED for life in a wicked world 🌎!! ✅🕊️🕊️✅
Comment from : Teed Tad


Tom Baker
Great video! In summary for myself this general rule applied since I have one rental property (via a divorce) Social Security only counts income from employment towards the retirement earnings test Other kinds of income — including income from rental properties, lawsuit payments, inheritances, pensions, investment dividends, IRA distributions and interest — will not cause benefits to be reduced
Comment from : Tom Baker


buzzy
We already paid tax! The government just takes more and more Cheats!
Comment from : buzzy


Freedom Liberty
So no matter what you have to pay a right to be a live fee they call a tax Just like you will never own your home even though it is paid off Fail to pay homeowners tax and they will come and take it
Comment from : Freedom Liberty


kirk lamb
taxing ss is a great way for the government to pay a benefit and take part of it back for their own reckless spending
Comment from : kirk lamb


Tim Olson
1 They are not benefits They are paid for by employees and employers 2 SS should not be lumped into the general budget It should be by itself, and the money collected each tax year should go into that exclusively 3 It should never be privatized Too susceptible to white collar crime In other words, keep your friggin hands off congress
Comment from : Tim Olson


Matrix LLC
This guy is so lame and boring he does really have real answers to questions he brings up You leave more confused watching him
Comment from : Matrix LLC


Virginia San Miguel
TY for the excellent info u provide I am trying to convert all to Roth, I’m only allowing my self to get to the 22 rate each yr It’s a slow process n expense but slowly I’ll get it done Thanks again n God Bless🙏🏻
Comment from : Virginia San Miguel


Robert Tourville
A flawed system to keep working poor down rich stay rich and when you die your money goes back to Social security
Comment from : Robert Tourville


Cassie Young
I work for the state of Kentucky and I have a retirement through them so I can't do much with that can't move it
Comment from : Cassie Young


Kenneth Smith
This is not very clear, HOW can they tax me on money they already taxed me on????????? I'm getting taxed twice, this is stealing!
Comment from : Kenneth Smith


Dan Hill
You take to long to even explain anythingSucks
Comment from : Dan Hill


All Things Film
Thank you for this video I am planning waiting until I'm 67 to start collecting my SS I'm 64 now I'm hoping Congress doesn't change it to 70 before I get there I have subscribed so I can keep up with the ever changing rules of capitalism
Comment from : All Things Film


Gloire Ciel
Thanks
Comment from : Gloire Ciel


sleungkt56
Hi I have a question for you, hopefully you can answer for mebrThere's A & B personsbrA he reach FRA getting SSI thru retirement but he keep working full time, still paying as from his pay roll check will he still get increase his SSI at the end of the year?brB A person is reach FRA and totally not working, get SSI Thur his retirement will he still get increase his retirement payment by the end of the year? thank you
Comment from : sleungkt56


chuck
forrest gump
Comment from : chuck


D
It's taken out of my check since I was a teenager and now more taxes, that's a bunch of bull that we have to get screwed more when we are older
Comment from : D


Upside Down
No they are not taking anything It's an INSURANCE policy benefit from my money already taxed I'm over the IRS they're criminals AND since supporting gangs, terrorists and insurrectionists is against the law, my quarterly deductions are going to be epic
Comment from : Upside Down


Common Sense Isnt Common
This is such BS!!!!
Comment from : Common Sense Isnt Common


indianoutlaw13
Biden is responsible for that
Comment from : indianoutlaw13


Glade Goodrich
59th year paying income tax How about a break after the big 60?
Comment from : Glade Goodrich


My Love
Why has this not been faught in court? Double taxation is illegalbrWe already paid taxes on these funds before the government took them So they tax them again when we get them back Double taxation
Comment from : My Love


Patrick Nickerson
SS, SSDI all that, should never be taxed!!!
Comment from : Patrick Nickerson


Maverick Lane
Overtaxation! Social Security benefits payments should never be taxed!
Comment from : Maverick Lane


Joe R outdoorguy
I'm trying to understand what this guy saying, you try to defer taxes but eventually you have to pull your money out because you're not going to live forever So eventually you're going to pay the tax anyways And you talk about having a Roth is the only way Actually cash is a great thing to have If you collect Social Security at 62 years old and it's under 25 thousand and you live on that plus your cash, that's a way to avoid being taxed But eventually you have to pull out of your 401k But waiting will keep it growing And if you have rental property like I do Claim it as your primary residence There are many different things you can do, but in the end you're going to have to pay sooner or later
Comment from : Joe R outdoorguy


Ronald Franks
If you deposited money in a bank for 50 years and when you went to withdraw that money they charged you interest on it along with never having your deposit earn interest the government would shut them down and bank officers would be in jail A final thought Joe Biden was the deciding vote to tax your SS and when it was increased a few years later
Comment from : Ronald Franks


Chris Kalogeropouls
Paying taxes on your social security is like paying taxes on your taxes A bunch of BS if you ask me You already paid taxes when you worked
Comment from : Chris Kalogeropouls


jay kay
is another option to buy homes for your children under your name, keep a good chunk of assets in real estate? vs stocks, cds, us treasure bills, bonds
Comment from : jay kay


YOUAREHERE
So social security tax is used to fund the low income retirees
Comment from : YOUAREHERE


Mike Cronan
Fukkin crooks! It shouldn't be Taxed AT ALL!
Comment from : Mike Cronan


chris ?
Our social security when we retire we should no longer be paying taxes
Comment from : chris ?


Khagindr Atri
Main question should be - Why?
Comment from : Khagindr Atri


xw9476tw
I would rather pay the tax than give even more money over to high fee, high hidden expense, life insurance products that all of these videos seem to be guiding people to
Comment from : xw9476tw


Ghost Rider
I believe when a person gets to a certain age there should be no more taxes taken
Comment from : Ghost Rider


Alan KRAMER
Live a simple low cost life and don't expect money to be there if you didn't plan ahead
Comment from : Alan KRAMER


Alan KRAMER
Taxing the SSI is double taxation and is illegal but the Government does it anyway No wonder people don't trust the Government
Comment from : Alan KRAMER


Common Sense
They should just let seniors keep their money Ridiculous that you have to pay taxes on SS
Comment from : Common Sense


gold lotus
Where does Roth IRA come in this? It's the money on which we already paid tax So how does Govt deal with it and how does it know what is coming from Roth?
Comment from : gold lotus


ghw7192
Thank Ronald Raegan for taxes on Social Security
Comment from : ghw7192


Pedro Rodriguez
Social security are bunch of crooks
Comment from : Pedro Rodriguez


Wayne
I make 1730 social security and 150 retirement check is any of that going to be taxed ?? Please respond to me Thank u
Comment from : Wayne


Lets go Brandon
I made 39000 in social security IbrPaid nothing
Comment from : Lets go Brandon


Carguy
Social security is NOT A BENEFIT It’s money YOU EARNED Stop calling it a benefit like welfare leeches They did not earn it That’s a ‘benefit’
Comment from : Carguy


Dawahdude
Excellent presentation Thank you
Comment from : Dawahdude


CampsitePyro
I agree that SS should not be taxed, as we were taxed already to have it withdrawn from our paychecksbrbrRMDs should also be abolished for the original owner of the account Beneficiaries should have to take an RMD since Uncle Sugar needs the cash at some point
Comment from : CampsitePyro


Elliana
Why most of people always worry about money for retirement! Old people do not need a lot of money if he or she still is good health Majority old people, their body are out of shape, so it is not necessary to chase fashion just like young people, which can save money Retirement provides valuable time to cook nutritional meals at home, which also can save money But to buy as much organic foods as you can If you have some money saved, you can plan international trips with little money, do not follow travel agent You also can do some hobbies you dreamed for Life is to explore your soul, which is one of my philosophy to the life
Comment from : Elliana


Steve Koz
Thanks for the video What's in the Social Security Analysis and Strategy Report?
Comment from : Steve Koz


John K
Pails are a crappy way of example
Comment from : John K


Susan Davenport
My husband has been retired for 20 years I am 18 1/2 years younger than him and pay ALL his taxes (and mine) I feel like I can’t afford to work Should I retire (I’m “only” 58)
Comment from : Susan Davenport


Craig Schultz
Nice imfo to have availablesince I am considering going back to work part time??
Comment from : Craig Schultz


Mike Oz
If I have a pension from a local government, does that count as part of the provisional income?
Comment from : Mike Oz


Ramiro Pelayo
Thank you!
Comment from : Ramiro Pelayo


Frank Maikisch
Thanks Joe Biden
Comment from : Frank Maikisch


Simon2018
Taxing social security is sickening
Comment from : Simon2018


KlipschHead281
That SS is taxed at all is disgusting and shows yet another way corrupted Congress has become
Comment from : KlipschHead281


Lawrence Motley
SS Taxes is nothing more than a RIP OFF of the American People But time will tell America's story
Comment from : Lawrence Motley


Harry Cojones
Depends on your state
Comment from : Harry Cojones


Yanni P
I know so many single people who started collecting their SS at 70 but continue to work "full-time" past age 70 Since 85 of their SS will be taxed along with their payroll tax, I wonder what's the point in coming back to work full-time in our company?
Comment from : Yanni P


Belly Acres #3 (Jilly and Kerry)
Biden is the one who presented SS to be taxed way back when
Comment from : Belly Acres #3 (Jilly and Kerry)


ShadowFilm
The other way too to get a tax free SS is to move overseas Out of the US To get the foreign tax credit You have to be out of the US at least 330 days of that year It’s now up to over $100,000 worth of income that is tax free if you live overseas So in most cases most people getting SS would not pay tax at all Because it’s lower than the $100,000 limit
Comment from : ShadowFilm


Wage rage Fishing Team
i just take out 7 percent here in missisppi i have SSDI, retired ARMY 2017 and 100 Disabled doing good dont need a 401K blessed kids join military
Comment from : Wage rage Fishing Team


Wage rage Fishing Team
only certain states not all
Comment from : Wage rage Fishing Team


LWRC
While this SS tax should be completely eliminated as it is double taxation, I am focusing on my business which will provide significantly more income compared to SS My business allows my income to be sustained while beating inflation as long as I live so the miniscule amount the SS is taxed when I begin to collect it, that is not my main focus as I have much bigger fish to fry!!
Comment from : LWRC


LWRC
Congress needs to chage it so nothing from SS is ever taxed!!!
Comment from : LWRC


Jerad `Blazek
Dumbest thing in the world Yes I'm being a little hyperbolic, but not too much br Taxing you on taxed money that you gave the government for decades, only for them to give you a portion back after using it for all their little pet projects like war and whatnot is just straight up criminal
Comment from : Jerad `Blazek


John La Frieda
My wife will be getting $88700 a month - $10644 a year So, she will not be taxed on her SS, Correct?
Comment from : John La Frieda


Right on
How do they get away with taxing a tax? None of our SS should be taxed!
Comment from : Right on


David OnBass
The big secret is that none of that stuff is taxable Period The federal income tax is a lie There is no law that requires a person who trades their labor for wages to pay a tax on it End of story
Comment from : David OnBass


Rick David
We are paying way too many taxes, that are way to high, and way too much many is being wasted to fraud
Comment from : Rick David



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