2006-09-09 03:45:34 · 4 answers · asked by bill b 1 in Business & Finance ➔ Taxes ➔ United States
It depends on their filing status and AGI (for this purpose AGI is 50% of the SS benefits and all other income). For tax year 2005 the taxable amounts were:
For Single and HOH filers income btwn $25,000 and $34,00, 50% of the benefits are taxable. Over $34,000 the taxable amount is 85% of the benefits.
For MFJ filers the base is $32,000 to $44,000 at 50% and over $44,000 at 85%
If the person is married but did not live with the spouse they would use the numbers for a Single person. If they live together and file MFS the base is $0 before 85% of the SS benefits are taxed.
This will change for 2006 but I have not seen the base amounts if they have been published.
2006-09-09 07:34:30 · answer #1 · answered by ? 6 · 1⤊ 0⤋
Go to the Social Security's website and then click on "Earnings & Employment".
2006-09-09 03:54:10 · answer #2 · answered by Di 3 · 0⤊ 0⤋
It's up to 40K...you cvan earn as much as you wish...not those damn taxes keep coming until you die!
2006-09-09 03:50:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
i don't know
2006-09-09 03:53:03 · answer #4 · answered by my angel 2 · 0⤊ 0⤋