Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

41 States That Don't Tax Social Security Benefits


One of the most common questions I get asked from older friends and relatives is, "Will I have to pay taxes on my Social Security benefits?"

The short answer is "maybe." Some retirees have to pay federal income tax on a portion of their Social Security benefits, depending on their income level. However, the exact amount of tax you'll end up paying on your Social Security benefits depends not just on your income level, but where you live.

The good news is that most states don't tax Social Security benefits at all. In more than 80% of all U.S. states, Social Security income is completely exempt from any state income taxes.

Continue reading


Source Fool.com


Comments