2007-09-24 06:37:37 · 5 answers · asked by dana d 1 in Business & Finance ➔ Taxes ➔ United States
What are you asking here? Social security taxes are taken out of your paycheck (6.2% for social security and 1.45% for medicare), and also you have to pay them if you are self-employed and make a profit of more than $400 for your business. If you are asking if social security retirement income is taxable, it can be depending on your other income. It can be anywhere from 0% to 85% taxable.
2007-09-24 07:06:49 · answer #1 · answered by Anonymous · 2⤊ 0⤋
If your income is social security benefits, you pay no federal income tax. If you receive social security benefits and enough other income, then you pay more total income tax than if you received only the other income (and not the social security tax).
2007-09-24 08:33:55 · answer #2 · answered by StephenWeinstein 7 · 0⤊ 0⤋
Do you mean:
Are there taxes on social security?
Maybe. It depends on your other income.
2007-09-24 06:50:24 · answer #3 · answered by Wayne Z 7 · 2⤊ 0⤋
yes
2007-09-24 07:38:31 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No,not that I'm aware of.
2007-09-24 07:24:05 · answer #5 · answered by Babylove 6 · 0⤊ 4⤋