5 Things Retirees Need to Know About Income Taxes on Social Security Benefits
Many people don't realize it, but Social Security benefits aren't necessarily tax-free retirement income. Depending on a few factors, you might have to pay taxes on some of the retirement benefits you receive. It's important to know what to expect before you start collecting your benefits, so here are five key Social Security taxation concepts you should be familiar with.
The short version of Social Security taxation is that some Americans must pay tax on Social Security benefits, and it generally only applies to those for whom Social Security isn't their only primary income source. (More on this in the next section.)
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Source Fool.com
