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The answer depends on your individual circumstances.

If you are retired and Social Security benefits are your only source of income, you may file, but generally will not be taxed. If you also receive income from sources other than Social Security, your benefits will be taxed if your total taxable income exceeds a certain threshold.

The formula is very simple. Your adjusted gross income (AGI), meaning income from all taxable sources, will fall into one of the following categories. Depending on your personal situation, you could be taxed on 0% of your Social Security benefits, on 50% of your benefits, or on 85% of your benefits.

  • For a single taxpayer the base amount (cap) is $25,000.
  • If your total AGI is $25-34,000, you will pay tax on 50% of your Social Security benefits
  • If your total AGI is above $34,000, you will pay tax on 85% of your benefits
  • For married couples filing jointly, the base amount is $32,000
  • If your total AGI is $32-$44,000, you will pay tax on 50% of your Social Security benefits
  • If your total AGI is above $44,000, you will pay tax on 85% of your benefits
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12y ago
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Wiki User

12y ago

Yes, unfortunately this is the case. It's a pro-rated amount after your AGI exceeds a certain threshold. The generally increased per year so you can check the IRS web page or check the social security web page for the AGI limitation.

Charles Coker,CPA

Charles, I think you answered a different question;

What I think the original question was, is: "Do you pay FICA taxes on earned income after retiring (retirement meaning: collecting a SS benefit)?".

I think the answer is simply: yes.

Are there other ways that work can increase your benefits?Yes. Each year we review the records for all Social Security recipients who work. If your latest year of earnings turns out to be one of your highest years, we refigure your benefit and pay you any increase due.
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Q: Do i pay taxes on social security when i reach my full retirement age?
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Related questions

How are social security retirement paid for?

taxes on employers and employees.

Do you pay social security on a retirement incentive payment that is not wages?

Yes it is very possible that the retirement incentive amount will be subject to social security taxes in the year that the is received.

Are retirement checks subject to FICA?

Social Security retirement checks are subject to FICA taxes (Social Security and Medicare taxes) unless an individual has already reached the maximum taxable earnings limit for the year. Once the maximum limit is reached, no further FICA taxes are deducted from the retirement checks.

How much taxes is paid on 16368 on social security income?

My aunt had 23,114 dollars of retirement and 16,368 dollars of social security income.Her social security. Is taxable.How much would she have to pay in social security,dollar-wise?

In New York State is there a State tax on Social Security Disability benefits?

No. New York is not one of the fourteen states that taxes Social Security benefits (retirement or disability).

Do you have to pay taxes on your SS and your state retirement?

Yes, I have to pay federal taxes on my NC state retirement but not state income tax. Not all of my social security is taxable, depending on my adjusted income. The amount of social security that is subject to taxation is on a sliding scale. A more complete answer can be found at:

Do you get the FICA back on your federal taxes?

No you do not get FICA back on federal taxes. It's a pay now and collect later system, for when you collect social security at retirement.

What taxes do you pay on deferred income?

Deferred compensation income that is contributed to your retirement plan is subject to the social security and medicare taxes in the year that the amounts are contributed to your retirement plan. When you reach the retirement age and start receiving distributions from the retirement plan the taxable amount of the distributions will be added to all of your other gross income on your 1040 federal income tax return and be subject to the income tax at your marginal tax rates.

Can you own land and get social sucerty?

Yes. Social Security is a "retirement" plan that you pay into, all of your working life (if you're working legally and paying the required taxes).

Are Social Security taxes taken out before or after taxes?

Social Security (FICA) taxes are withheld from your gross (before tax) salary.

Which agency collects taxes from workers to pay benefits and living expenses for the dependents and survivors of deceased workers?

The Internal Revenue Service (IRS) is tasked with the responsibility for collecting most federal taxes, including the Social Security taxes. Social Security taxes are deposited into the United States Treasury and credit is given to the appropriate Social Security Trust Fund. The Social Security Administration (SSA) administers the Social Security programs and distributes the benefits to eligible recipients.

Are social security taxes state taxes?

Social Security is a federal program. It is a federal "tax" not a state tax.