2007-05-02 07:00:51 · 4 answers · asked by winbetca 1 in Business & Finance ➔ Taxes ➔ United States
if you have the premiums taken out pre-tax, then your benefit is taxable (not recommended) if you have the premium taken out after tax then the benefit is NOT taxable. you want it taken out after tax because the disability already is a portion of your income (<66%), why would you want to make that even lower by giving that to the gov. you are already hurting income wise.
2007-05-02 18:01:22 · answer #1 · answered by Erik N 4 · 0⤊ 0⤋
1
2016-10-08 14:30:47 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Yes, in your case about 80% of it will be taxable. If you do not have any other income than SS benefits, then it is not taxable. //np A part of your social security benefits may be taxable if half of the SS benefits plus your other income exceeds the base amount. The base amount is $25,000 for single, head of household, married filing separately who did not live with the spouse in the year, and it is $32,000 for married filing jointly. For married filing separately who lived with the spouse any time in the year, the base amount is $0.
2016-05-18 23:18:11 · answer #3 · answered by ? 3 · 0⤊ 0⤋
If the premium is pre-tax (or employer paid), any benefits are taxable.
2007-05-02 07:06:57 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋