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The basic idea behind Social Security retirement benefits is that you'll spend your working years paying into the system through payroll or self-employment taxes, and the money you pay in will come...
It's tax season, and if you're one of the more than 70 million people in the United States receiving Social Security benefits, you probably have questions about how they affect your taxes. Social...
The $ 22,924 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known ...
But if your provisional income is greater than $34,000 (or $44,000), you must pay taxes on up to 85% of your benefits. Save Money on Taxes in Retirement by Diversifying Your Investments
While West Virginia will eventually phase out its state income tax on Social Security benefits in three years thanks to a newly passed law, for the time being individuals who make less than ...
Income over a threshold ($110,100 in 2012) is not subject to the payroll tax, nor are additional benefits paid to those with income above this level. Removing the cap would fund the entire 75-year shortfall. Raising the retirement age gradually. Raising the full-benefit retirement age to 70 would fund half the 75-year shortfall.