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Is social security taxed?

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Yes it is very possible for 50% to 85% of your SSB to become taxable income on your 1040 federal income tax return and added to all of your other gross world wide income and be tax at your marginal tax rate amount.
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When did Social Security tax begin?

The Social Security Act of 1935 was signed into law by President Franklin D. Roosevelt on August 14, 1935. The government began collecting taxes for Social Security in January

How is social security taxed after age 75?

Age, whether it be young or old, is irrelevant to your taxability. Social Security IS taxable income, although there is a calculation that makes much of it, if not all of it,

If outside income does not exceed 19850 is social security taxed?

A taxpayer filing single has at least 19850 of income and receives at least 10500 or more of social security benefits would have to include from 50% to 85% of the SSB in the t

Do your tax pay your social security?

The taxes that you are paying now for for the social security and medicare insurance program are being used to pay for the benefits that the current beneficiaries are receivin

Is there tax on your social security?

Yes -- if you have other sources of income, you have to pay regular federal income tax on 85% of what you get from social security. There is no state tax on it in my state,

What is the definition of social security taxes?

The amount of money deducted from your gross salary, supposedly put in a "lock box" for future use as a "retirement benefit" from US Govt. when one reaches the age of 62 or la