what taxes do social security receivers pay?

Answer 1

The same as the rest of us, federal income tax if they have taxable income, and state income tax, if their state taxes their social security.

Answer 2

There's no taxes taken from social security checks. You can elect to have taxes taken out, but if that's you're only income, there's no need to. Social security, by itsef, isn't taxable income. Now, if you or spouse have a job as well, some of your social security might be taxable.

Answer 3

We are an accounting firm and relate the following:

Will depend on how much SSI or SSA that you may receive for example under Title II, Title XVI etc.

Review http://www.irs.gov and type in lets say for example tax on social security benefits etc. and see what you find. Review also http://www.ssa.gov (SSA site) You can find what you need based on your "entire" situation here on these links we're sure. Review our site also and look at the link for 1040 tax estaimator this may also help you.

Doesn't work any of the above info, best to speak with an accountant so they may know entire situation.

BC Business Services, Inc.
http://www.bcbsinc.com

Answer 4

They might or might not have to pay federal income tax on part of it (up to 85% of it) depending on how much other income they have. If they have very little or no other income, then the social security benefits aren't taxed.

Answer 5

Determining what portion of your SS is taxable is a little complex. Basically you take 1/2 of the SS benefit plus any other income. If that amount is greater that $32,000 if filing MFJ or $25,000 if single or head of household (0 for MFS)than a portion of the SS benefits, up to 85%, will be added to your taxable income.