Tim Estes Interviewed by James Malinchak, of the hit ABC TV series "Secret Millionaire"

Watch More

Blog

Are My Social Security Benefits Taxable?

by Tim Estes on
Categories
The quick answer is “it depends.”  But, for the 33 percent of retirees who now rely more heavily on their Social Security benefits to sustain their lifestyle, the answer takes on even more significance.  Generally, your income from Social Security is not taxable on its own; but when it’s combined with other sources of income for tax reporting purposes, a portion of your Social Security benefits, up to 85 percent, could be includable as taxable income.