Taxation of Social Security Benefits

[Trade]

 

[dilettante]

Yeah, this will go partway toward leveling up SS taxation for most people on a par with the double-dippers who crawled out from under WEP/GPO protections recently.

 

[OldOld]

I have watched a few videos from this Youtuber's channel. I found her speaking style quite stressful. She appears to read from a written script with a stiff tone. I couldn't continue watching.

 

[Timewise 60+]

Our governments already get too much from those of us that work to earn a living. They do not spend our money wisely now, it would be tragic to see them have access to more of our earning...

 

[OneEyedDiva]

The tax I paid on my SS this year was $1,100 more than it was last year. So much for the 2.6% COLA!! Except for that, my income was the same and taxable divs and caps on investments were even less than 2023.

 

[Aunt Bea]

The tax I paid on my SS this year was $1,100 more than it was last year. So much for the 2.6% COLA!! Except for that, my income was the same and taxable divs and caps on investments were even less than 2023.

I had a similar situation because the taxable amount of my social security combined with my other income bumped me into a higher tax bracket.

I don’t mind paying my share of taxes but I don’t believe that it’s right or fair to tax Social Security benefits.

 

[OldOld]

Didn't Trump make a campaign promise to make SS benefit tax-free?

 

[Trade]

I had a similar situation because the taxable amount of my social security combined with my other income bumped me into a higher tax bracket.

I don’t mind paying my share of taxes but I don’t believe that it’s right or fair to tax Social Security benefits.

Same here. On my wife and I's 2024 tax return almost 70% of the income tax we owed was due to the taxes on our Social Security. Taxable Social Security added $2,916 to our tax bill. That's $243 a month.

 

[MACKTEXAS]

I had a similar situation because the taxable amount of my social security combined with my other income bumped me into a higher tax bracket.

I don’t mind paying my share of taxes but I don’t believe that it’s right or fair to tax Social Security benefits.

This, coupled with the fact the $25,000 threshold for single head of household has remained the same for over 40 years.

 

[OldOld]

This, coupled with the fact the $25,000 threshold for single head of household has remained the same for over 40 years.

And the federal government is deeply in debt now.

 

[MACKTEXAS]

Deleted by the author

 

[MACKTEXAS]

And the federal government is deeply in debt now.

And so are many Americans and seniors who are paying higher taxes toward that debt.
From Federal Reserve Bank, New York
From AARP

 

[OldOld]

And so are many Americans and seniors who are paying higher taxes toward that debt.
From Federal Reserve Bank, New York
From AARP

Ok. We are all doomed.

 

[smiley]

Na Canada will help you out if you ask nicely? and get the other side to stop attempting to steal other countries?

 

[Gark]

Didn't Trump make a campaign promise to make SS benefit tax-free?

Snake Oil! Get yours here!

 

[David777]

At $50k threshold for a single tax payer level she showed, I'll be fine. And bet the IRS will never bother with trying to squeeze chump change out of me for the piddly amount I was supposed to give them since retiring but have chose to ignore sending anything in for as a protest against that double taxation wealthy politicians forced on we citizens.