How Much Income Can You Have in Retirement and Not Pay Taxes?

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Information How Much Income Can You Have in Retirement and Not Pay Taxes?

Title	:	How Much Income Can You Have in Retirement and Not Pay Taxes?
Lasting	:	11.00
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Views	:	11 rb

Do you have to pay FICA for any income (part time work), while still below having to pay taxes
Comment from : Uriyah Hawkins

I’m screwed, I’ll be paying considerable taxes
Comment from : Madame Clark

This nothing more than a promotional commercial Absolutely a worthless waste of time Learned NOTHING!!
Comment from : J Smith

THE lesson! Do not try to earn any money
Comment from : Fr Louie Goad

Arizona does NOT tax my AZ state retirement or my SSI! It is just enough to make it month to month
Comment from : Fr Louie Goad

why they dont want you to be buffet
Comment from : Paul Sypersma

can you get tax refund if you are retire and doing small withdrawal but don't meet tax threshold???
Comment from : KING KONG

Thank you for the insightful information My mother's only source of income is her retirement which is quite high and above the threshold Doe she have to pay for taxes on her retirement income?
Comment from : Nyameye N

If I'm at full retirement age and still work, do i have to include my social security on my tax forms?
Comment from : katanatac

Isn't the standard deduction going to be less in 2025? Right now I'm 59 and my standard deduction is $13850 in the 2023 tax year
Comment from : evan Doe

Wrong, the Canadian tax code is as complex or more so than the American
Comment from : Maria Davis

You should use a whiteboard
Comment from : Simply Noy

I think our beloved Congress will simplify the taxes and just make ALL SocSec will be taxed as Income! Not to Help us, they will claim they NEED to do it to Save it? It shud Not be taxed at All but i fear they will just make it All Taxed? And it they dont make some changes will Slash Our Benefits but Keep raising Their pay every year!
Comment from : Joseph Juno

Very useful information However, some graphs / charts would have made it much more understandable
Comment from : Tim Lowery

The ‘system’ was designed by governmental types — they complicate everything they touch as they ‘help’ us Let’s make it impossible for a person to comprehend and function in life as an individual Thanks for the information The slaves must be kept down, ignorant and compliant, if not content
Comment from : John Doudna

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

What would be the best way to create an income stock portfolio in a taxable account to cover my bills and pay the least amount of taxes possible? I put money in my ROTH as well but I don’t want to wait until I’m 59 1/2 in order to use dividends to pay for my lifestyle
Comment from : Brian Crizaldo

what if it is your only income?
Comment from : tonewill

A couple of commentsbrbr1 Calculating the amount of your social security that is counted as taxable income is easily done using the worksheet in the 1040 instructions You do NOT need to have software or hire someone to do the calculation if you can do simple arithmeticbrbr2 The source of your income is also a big factor in determining if you have any tax liability Depending on your total taxable income, a large part or all of your qualified dividends and long term capitol gains may be taxed at 0 Have a look at the Qualified Dividend and Capitol Gains worksheet in the instructions for form 1040 to see the details
Comment from : Todd Dunn

Some examples would have been great for people that don't really get this subject Especially for those years your retired but not collecting Social Security
Comment from : john gill

You didn't pay taxes on your employers contributions to social security, not really a sham
Comment from : john gill

I'm a military retiree I have been searching for data as to the following, without success How often does the social security administration check what your adjusted annual income is, is it annually? I have 2 pensions, a TSP distribution, and bank savings interest My goal is to reduce my reporting annual adjustable income, to reduce my social security taxation I plan on filing for social security in 2 years, when I turn age 70
Comment from : Pura Vida