Is dependent upon the individual’s contributions to the Social Security program.
May not exceed 50% of the Social Security benefits received because the employee paid one-half of the cost
May be as much as 85% of the Social Security benefits received
Is $0, because Social Security benefits are exempt from Federal income tax
None of the above.
2006-11-22 11:40:34 · 14 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Since I can see that you are asking a lot of questions on here about taxes I wonder are you having us do your homework for you?? Maybe you should study up on this......there is probally a test on it and oh yea you will need this stuff when you are older you know you have to file taxes!
2006-11-22 12:02:58 · answer #1 · answered by Amanda C 2 · 1⤊ 1⤋
The amount that is included in your income depends on your gross income. If it exceeds a certain amount then a percentage of the total social security is taxable. If it is below a certain amount then none of it is taxable. But when you are filing taxes you must report whatever amount of social security you recieve and the tax professional will figure out whatever amount is taxable and what is not......
2006-11-22 12:07:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is dependant upon what the total income is. Just came back from applying for Social Security.
2006-11-22 12:05:59 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I get what they call SSI Social Security Income And if this is what your talking about I can tell you all about it monthly income is around $600.00 to live on and you are not aloud no more then $2000.00 in the bank in savings or the gov cuts off your monthly cheek for me I wish I could work and be able to put money away in the bank more than aloud
2006-11-22 12:43:47 · answer #4 · answered by jetrose2000 1 · 0⤊ 0⤋
Is $0, because Social Security benefits are exempt from Federal income tax.
The reason SS benefits are exempt is that they were already taken out of your paycheck. Social Security is a form of a tax refund for retired and disabled people.
2006-11-22 12:02:21 · answer #5 · answered by Richard H 7 · 1⤊ 3⤋
Social Security Disability Form : http://DisabilityHelp.siopu.com/?dob
2017-04-05 09:51:09 · answer #6 · answered by ? 3 · 0⤊ 0⤋
SOCIAL SECURITY BENEFITS ARE NON TAXABLE BY EITHER FEDERAL OR STATE GOVERNMENTAL TAXING AGENCIES. IF YOU WORK WHILE RECIEVING SOC SEC BENEFITS, THIS TAXABLE INCOME MAY AFFECT YOUR SOC SEC BENEFITS, THAT IS , THE AMOUNT THAT YOU ACTUALLY RECIEVE. YOU SHOULD FILE A TAX RETURN IF YOU HAVE ANY TAXABLE INCOME, SINCE THIS HAS BEEN REPORTED TO THE IRS - AND IT WOULD BEHOOVE YOU TO GET A REFFUND ON THE TAXES YOU PAID. JOANN CPA
2006-11-22 12:14:11 · answer #7 · answered by Anonymous · 0⤊ 1⤋
I only have social security and no dividends or interest I am married can I file single and not have to file a tax frm
2016-05-22 19:34:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋
By the time I have to worry about your question Social Security will be sending me I.O.U's. Hopefully I will be able to use them as a tax deduction to at least purchase my adult diapers, prune juice, and occasional bingo nights.
2006-11-22 12:04:22 · answer #9 · answered by Lil D 4 · 1⤊ 1⤋
if you make more than 32,000 you have to pay income tax on 50% of your social security. If you make over 40.000 you pay income tax on all of it.
2006-11-22 12:02:15 · answer #10 · answered by roy40372 6 · 0⤊ 2⤋