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If you have other sources of retirement income, such as a 401(k) or a part-time job, then you should expect to pay income taxes on your Social Security benefits. If you rely exclusively on your ...
No state income tax. No income tax. Won’t tax Social Security income. Won’t tax pension income. Won’t tax Thrift Savings Plan (TSP) income. Won’t tax 401(k) or IRA. Won’t tax your estate ...
In fact, about 40% of people who get Social Security have to pay federal income taxes on their benefits. If that check is your only retirement income, you likely won’t have a tax bill.
You can game your income to reduce the amount you must give back to the government.
Seniors living in Vermont can expect to pay between 3.35% and 8.75% in state income tax, but whether your Social Security benefits are excluded depends on your filing status and adjusted gross income:
Does your state tax Social Security benefits? Here are the nine states that tax Social Security benefits in 2025: Colorado. Connecticut. Minnesota. Montana. New Mexico. Rhode Island. Utah. Vermont ...