How to Pay NO TAXES on Social Security | Five Simple Strategies

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Information How to Pay NO TAXES on Social Security | Five Simple Strategies

Title	:	How to Pay NO TAXES on Social Security \| Five Simple Strategies
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California doesn't tax ssi
Comment from : Ciescape

Thank you for your videos They are very helpful
Comment from : Krystal

You confused the snot out of me and you forgot to put California on your list of states that do not pay state taxes on Social Security
Comment from : Subaerialman

Im single & had to take early retirement because I had no job or income I do not have a pension, 401k, IRA, Roth or any of the stuff others seem to have, because these videos are always instructing them how to " manage " their money from different sources people have I just get a small monthly check from the SSA The government of course wants to take every bit of it they can through taxes I just get a small SSA government check every month That is the only income I have All the videos I find here are to instruct people that have money from different sources (compared to me) most have money for multiple sources they need to "manage" How do I stop the government from taking what little I have in my SSA check, through taxes? how do I manage my little SSA monthly check so that the government can't get any of it? I have family here moving to another state is not an option
Comment from : D

Paying taxes on money they collected over 45 years that they could earned interest on When you want to get it back is simply not fair Now the IRS can control your income to draw out your money they collected and you paid seems it is an envasion on our rights brNo wonder in 1983 when Congress had to pay the tax they raised the age and required additional tax on collecting it as they are wealthy and thier pensions really dont require them to collect it
Comment from : John McDonald

There are no taxes taken out of Social Security paymentsyou didn't know this? LOL
Comment from : JEFF QUICKLE

Great channel Excellent topics and advice However, one observation Has anyone noticed how similar Holy Schmidt is to Dr Todd Grande? I did a double take when one immediately followed the other on my playlist
Comment from : Theophilus

good overview but nothing said here really helps if u've diligently saved your whole life and have a ton in your 401k tax-deferred even if u wait until age 70 to start taking SS, there typically aren't enuf years to convert all your $ into Roth accounts w/o getting eaten up by taxes the irs is definitely 1 step ahead of us on all this, especially once u factor in RMD's and health insurance costing u extra if u're trying to draw down a large 401k balance in your lifetime
Comment from : D B

But as a single don’t I still get my $12,000 deductible on my tax statement every year? That would help hugely to wipe out taxes having to pay on my Social Security
Comment from : Colleen Conger

@HolySchmidt I live in a state that does not tax social security My question is do I have to report it? I just moved here Thank you
Comment from : Rain Dropps

I watch several YouTube videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
Comment from : Anika Parvati

Is it true that the Gov does not have to give us any thing because of a law passed back in the sixties?
Comment from : Barry Macintosh

New Mexico changed last year
Comment from : Raymond Flavin

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

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made Great video! Thanks for sharing!
Comment from : walter brown

I make 2900 a year! dang okI just watched a different video that I could make more by retiring at62 with the government!
Comment from : Bonnie Bickett

Why 50 of your SS income? Well If I had to guess, I'd say it is for the portion of your contribution to Social Security from your paycheck that is contributed to by your employee SS is roughly 15 of your taxable income Roughly 75 is paid by you out of your gross income, which is kind of like paying tax The other 75 is paid by your employer, but is likely not considered income that was taxed So for the employers portion, it is like that SS is considered as being tax deferred At least that is what I'm guessing 🙂
Comment from : Steven Bingham

It took over 6 minutes to get the @#$ing information, dammit TL:DR
Comment from : Visual Verbs

With all the ability to search any topic it amazes me that people want to remain ignorant and hateful It's all Biden's fault in '83 and '95 as a Senator while Reagan and Clinton were the President at that time Now when he is President everything is his fault How a clueless nitwit like Biden can be responsible for all of this is beyond me Just the classic scapegoat What is sad is that it does nothing to provide solutions
Comment from : Everett Calhoun

Has that 50 on Social Security ever changed?
Comment from : Brett Ossman

We should not have to pay taxes on social security We paid taxes on our income when we were working, including social security That's double taxation
Comment from : Ron Rice

They need every dollar they can get when they give away to foreign country's for free
Comment from : John

Here is a serious question about 401Ks, being in retirement at age 71 Can I transfer my 401k To an Existing IRA (at a Bank or a TD Ameritrade IRA ) without any Penalties invoked? In this manner, I can better self manage my money in the IRA The existing Manager (from my Previous Employer) like so many, only have limited Investment vehicles?
Comment from : Pete The Rock

For all of you blaming Biden for taxes on Social Security Please read your history Ronald Reagan is responsible for signing this into law It just gets old Not hard information to look up
Comment from : E DL

Dubbing really distracts…shabby job
Comment from : Robert Novak

There were no taxes on Social Security before Reagen became president
Comment from : ghw7192

Be careful about Trad IRAs I am doing Roth conversions now for a few years pushing taxes to just under the next marginal tax bracket and medicare penalty but just after that, the RMDs will push me into that much higher tax bracket plus 1 or 2 Medicare penalty steps
Comment from : Ray raycthree

I only make a little over $16,0000 a year
Comment from : Tammy Johnson

Right now I don’t even have enough SSI to pay my bills
Comment from : Tammy Johnson

Be a rich GQP They don't pay taxes on anything
Comment from : D O

In Colorado, starting with the 2022 tax year, those 65 or older do not pay taxes on SS benefits
Comment from : California MusicFan

Remember when Rethug W Bush was concerned about fictional double taxation on investments ( the wealthy) while utterly silent about actual double taxation on social security recipients Reagan started taxing SS income to help reduce his $1T deficits The Rethugs havent changed after all the years
Comment from : Jim Maiullo

Wow that's a brainstormer You can't be taxed on social security if you're not taking social security Is this guy a joke or what!?! 🤪
Comment from : PMAZ

Having trouble finding that spread sheet you mentioned that is on your web site?
Comment from : david anderson

California doesn't take charge state tax on Social Security, but I didn't see it on your state list
Comment from : Una Nelson-White

You forgot California It does not tax social security payments
Comment from : Jj Drake

If you earn more than $40K YOU are paying taxes
Comment from : Martin Fano

Stop republicans from cutting Medicare and social security that is what they are trying to do tell everybody Republicans trying to cut SOCIAL SECURITY and MEDICAID stop Kevin mcGoofy and his republicans only for the rich nothing for the poor stop republicans from cutting Medicare and social security
Comment from : Edward Patterson

easy, don't take social security
Comment from : Tim List

Your statement on HSA's is 100 misleading, if not incorrect Only IRS qualified medical expenses are non-taxable Any monies withdrawn for retirement is 100 taxable HSA is an excellent vehicle for sheltering more money but you should be more specific in your statements
Comment from : Flyover Peasant

If anyone knows of a site that shows how a retiree can save/reduce taxes in Vermont, please let me know Thank you
Comment from : Gilbert Cartier

Alabama does have state income tax, but not for retirees
Comment from : Larry oneill

Save money,move to Florida
Comment from : rwendell0912

The feds have managed to make ss so complicated ir takes professionals to explain it and advise the average Joe God bless America
Comment from : Jason Wiley

Social Security retirement benefits are not taxed at the state level in California
Comment from : W A

Biden voted for taxing ss benefitstwice!
Comment from : Carlton Moody

You can thank the 1983 bill sponsored by Joe Biden for the Feds to start taxing Social Security For God's sake, We have paid into the system for 50 years Give us a break and STOP THE FEDERAL TAX ON SENIORS
Comment from : Bob scafidi

This is entitled "how to pay NO TAXES on Social Security" My family's combined income is about $110,000 There is no reasonable way to eliminate federal taxes on Social Security benefits at this income level I'm a little irritated that you seem to promise me NO TAXES on Social Security when this is obviously not possible and even the video agrees that this is not possible I would urge higher income families to not watch this video There is nothing here for you The NO TAXES promise is click bait and nothing more
Comment from : Daniel Schroeder

When you say "taxable income", is that your income after writing off things like property tax?
Comment from : wthomas

CA does not tax social security benefits
Comment from : snrose33

Interesting information Thanks for sharing
Comment from : Andrew Thacker

You can add New Mexico to your list now too
Comment from : Vanessa LivinginLC

This is not for the majority of people on SS , unless your are rich have disposable income Majority of people live on fixed income at retirement The idea that you pay less tax on social security is not new The higher you combined income the higher percentage tax you will pay on SS
Comment from : Piper042

I appreciate the useful information What does it imply when we say that 85 of SSN benefits are taxable? Does this entail that 85 of SSN benefits will be considered income and subject to both federal and state taxes? So, in 2022, if our total income is under $83,550 for joint filing, I 'll pay 12 federal tax, right?
Comment from : Jianhua Zhou

Yea people like B Gates and Zachaburg have made about 10 BILLION $$ on the sale of their stocks and paid ZERO in taxes bc they “donated” all to their “charities” The working class has nothing comparable Republicans have passed rules so billionaires can take those HUGE tax breaks
Comment from : David Low

Couldn't access your spreadsheet link?
Comment from : Sonrise Sunset

Very helpful You can add Colorado to the list Effective January 1, 2023, Colorado no longer taxes Social Security income
Comment from : Jassa Skott

Click baitThere IS NO tax on SSI should know12 years retiredPaul
Comment from : Paul Holterhaus

i get disability so dont pay
Comment from : brent cowell

people receiving Social security benefits and on medicare part A cannot contribute to an HSA
Comment from : ken moore

This did not help people who live on SS and how to avoid being taxed on SS I did not find it helpful
Comment from : Sandra Lena-Autry

No thank you
Comment from : facts

Who in hell pays taxes on SSA benefits? Why? Read the tax code already, Title 26 USC
Comment from : Liberty Garage

You lost me when you said you saved a million! Been self-employed 90 of my life!
Comment from : Daniel Churchill

You point out atrocities that should not be invoked The New Omnibus bill in Congress may change the age that requires an individual to take Required Minimum Deductions (RMDs) from their 401K accounts from 72 to 75? I'm not sure about that, but saw it on another VLOG Is it True that SS Benies (Full Retirement age benefits) are only taxed at 50 ?? Are you sure about that? Although the costs or Charges for medicare Plan B / D and other plans, are not presented here, THAT expense or charge is outrageous! Medicare Look Back 2 Years of your AGI to calculate your Plan B and D premiums Pay attention to that !!
Comment from : Pete The Rock

I have always said, its not what you make but what you owe!!!
Comment from : Berry Walton

The government happily screwed us decades ago
Comment from : HardluckHarry

Are you saying we don’t have to pay taxes on our ss that we collect monthly or are you talking about not paying taxes on the amount of sS you put away before retirement?
Comment from : David Hur

Question: once you are taking money out of your profit sharing plan, is it better to roll over your profit sharing plan to an IRA ? Why?
Comment from : David Hur

Social security should NEVER be taxed in any way It was a republican president responsible for starting taxation on social security Never vote for a republican Wise up Seniors!
Comment from : Jay

Very doubtful the Social Security benefits be taxed at 50 in most cases, unless your itemized deductions are way over the top This would mean your income can barely maintain your lifestyle This sounds nothing more than an academic exercise
Comment from : Sim Ev

Thanks for the videos!! brWhen I view my "SS Retirement Calculator" can I correctly assume the 87 COLA is not included So if it estimates $1000/mo benefit It should be $108700 Right?
Comment from : Tommy Wood

WE SHOULD TAX OTHER COUNTRIES THAT CONGRESS SUPPORTS!
Comment from : Reveri Maldonado

We pay taxes for other countries but not our own!
Comment from : Reveri Maldonado

I'm 65 now and plan to start drawing my benefit at 67 but continue to work full time for a couple more years or less in order to further reduce my overall debt (Finish paying off mortgage) What would be the advantage if any to just retiring at 67 and not being employed vs full employment and drawing SS benefit?
Comment from : Michael Ford

It has been a year, but seems the calculator has been dumped?
Comment from : BROADSMILE

I paid taxes on it before it was taken out of my checks
Comment from : Tony Spainhour

Tell us more about hsa how do we benefit from an HSA if we can't access the money in it except for medical exspenses
Comment from : Scott Hall

01:20 - In you listing of the US states (9) that do not require you to pay state income taxes are 13 US States and NOT 38 US states as you mentionedbr - Therefore, you arithmitic is wrong the chance of not paying state income taxes is 26 and not 76br - The 13 US States are: Alabama, Florida, Illinois, Mississippi, Nevada, New Hampshire, Pennsylvania, South Dakota, Tennessee, Texas, Washington and Wyoming
Comment from : Jimmy The Greek

HSA does not have DOUBLE benefits HSA gets pre-taxed money and lower your taxable income, but it does NOT come from your tax
Comment from : Beef And Potatoes

You Tube - please stop sending this irrelevant stuff to me that refers to another country It's misleading
Comment from : GBM

I did not read all the comments to check for redundancy but I wanted to mention contrary to your above list that the state of Alabama does indeed have a state income tax
Comment from : Wesley Davis

Do what trump does, just don't pay
Comment from : Dj M8

According to 2021 IRS transcript our income for that year was : $17,200 in wages (wife) plus $19,800 Social Security payments ( me & wife) It makes combined income in amount of $27,100 We have $4,900 "leeway" to add some interest etc and still pay no federal taxes on SS benefits (nor federal taxes at all) This year we purchased $40K worth of I-bonds ( $20K in "real purchase" and $20K as mutual gifts) So, we can redeem them in 2023 @ ca 8 interest without a problem😀
Comment from : krzysztof duszkiewicz

They government does not want you to stop working They want YOUR money
Comment from : SGT 1911

cannot find the spread sheet on your web site to calculate this for my own situation
Comment from : Jo Money

your link to the SSTax worksheet is not working
Comment from : Jo Money

I just turned 80 years of age and for the last two or three years I have had to pay taxes on my income My question is will this continue for the rest of the time that I receive an income,br or does it stop at any point in time?
Comment from : lois robinson