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Doctor – Ever wondered if your Social Security benefit is subject to federal tax?
The answer depends on your annual household income.
The first step is to calculate your “provisional income,” which is a combination of all your taxable income plus half your Social Security benefit.
Then, comparing your provisional income to the following chart tells you how much of your Social Security benefit is taxed at various income levels.
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Assessment:
Conclusion
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Filed under: Retirement and Benefits, Taxation | Tagged: Are Social Security Benefits Taxed, Lon Jefferies, social security, Social Security tax | 4 Comments »
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