My wife and I receive $37,000 per year from Social Security and no other income - who exactly will we be taxed?
Briefly

from 247wallst.com3 months ago
Social Security benefits are taxed based on combined income, which includes Adjusted Gross Income, nontaxable interest, and 50% of SS Benefits. Understanding this is crucial for retirees.
247wallst.comhttps://247wallst.com/personal-finance/2024/12/02/my-wife-and-i-receive-37000-per-year-from-social-security-and-no-other-income-who-exactly-will-we-be-taxed/
For a couple filing jointly, if your combined income falls between $32,000 and $44,000, up to 50% of your Social Security benefits are taxable, with higher rates applying if income exceeds.
247wallst.comhttps://247wallst.com/personal-finance/2024/12/02/my-wife-and-i-receive-37000-per-year-from-social-security-and-no-other-income-who-exactly-will-we-be-taxed/
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#social-security #taxes #retirement #financial-planning #income-tax
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