Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
@Davidvictor-u6p
4 күн бұрын
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
@christainjames
4 күн бұрын
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@Pamala-p1t
4 күн бұрын
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
@christainjames
4 күн бұрын
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@Pamala-p1t
4 күн бұрын
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
@puravida5683
Жыл бұрын
Why is social security even taxed! Especially, when the tax table is not even adjusted for inflation.
@HolySchmidt
Жыл бұрын
I hear you
@acetheking3136
Жыл бұрын
Republicans smh
@tracy6947
Жыл бұрын
@@acetheking3136 both parties agreed unanimously to tax social security benefits
@tracy6947
Жыл бұрын
Created Revenue
@johngill2853
Жыл бұрын
Because you never paid tax on the part your employee contributed all them years
@dipaknadkarni62
Жыл бұрын
Thank you. My wife and I were on active duty in the US Navy. She died on active duty and is buried with full honors in Arlington National Cemetery. I retired at nearly 30 years on active duty In the Summer of 2021. I decided that I would take survivor benefit, waiting until age 70 to take mine. I would have asked her to do the same so she could be financially independent. I miss her terribly. I thank you for all of your videos.
@tonyroo11
7 ай бұрын
Thank you for your and your wife's Service
@guitjammin4710
Жыл бұрын
Geoff, With the the 3 tests, do you get to choose between them and of course select the lowest outcome as in this scenario where only $16200 was subject to tax? I assume that amount is then added to AGI to determine your final tax?
@vivianowen
Жыл бұрын
If you want to grow your wealth, you should talk to an investment adviser. I can vouch for their expertise, because I have made over a million dollars since 2021 with their help. I just bought my third rental property, thanks to Rochelle Dungca-Schreiber, my investment adviser. You can find her online and see for yourself how good she is.
@lp6696
Жыл бұрын
I just watched the video (2 times) and at the end, it does say Choose Option 3 (6:08 mark), and in the first part of the video it does mention you do get to pick which of the 3 options is the lowest. So 16,200 is then added to your AGI and that total amount is what is taxed I assume by Federal and I am going to check my State taxes to see if that is any different. I plan to read the information in the link to the social security rules. I wonder how anyone figured out the above thresholds to put into the tax codes and how long that had taken to do (they were paid by our taxes to do this).
@anniesshenanigans3815
5 ай бұрын
@@lp6696 very convoluted tax system!! I though going into retirement would be EASIER tax filing.. I have filed my own taxes since I was 16..
@lp6696
5 ай бұрын
@@anniesshenanigans3815 This is strange I did not write the above comment it appears KZitem has an issue with who was the author of the comment. When I get time I will try to figure out how to report this to KZitem, I have never put a time mark in a comment before, and I am not even sure how to do that.
@voyagerman22
5 ай бұрын
Simple straightforward example, thank you. This is the first time I’ve ever heard of choosing lowest of 3 calculations like in your example. Most content just states the income thresholds.
@guzzi95
Жыл бұрын
Great information. They never say how much money is put into the system when someone passes away or even if it is put back into the system. Unfortunately there are quite a few people that paid into SS all of their working lives but never got to receive any payments from what they paid in because they are no longer with us. It is bad enough that we pay into our own SS throughout our working years, then when we no longer can work or just don't want to because of various reasons, we still have to pay taxes on what we paid in.
@Keerahmendes
Жыл бұрын
My financial advisor Mr. Rahul Gupta employs the Hammer candlestick pattern, which is a single candlestick pattern that develops at the end of a decline and indicates a bullish reversal, to multiply earnings for me.
@Keerahmendes
Жыл бұрын
Correspond with him in Telgram with the user below
@Keerahmendes
Жыл бұрын
RahulGupta808
@RahulGuptaS880
Жыл бұрын
Actually, when someone is good at what he/she does, their good work will surely speak, Mr Rahul Gupta is really a top notch in trading, you can try him out
@RahulGuptaS880
Жыл бұрын
saw this name been mentioned on CNBC news sometime.. i think i'd give him a trail as well.
@marcd1981
Жыл бұрын
@tokenslnvaders5640 Do not reply to these bots. This is a stock trading scam they are trying to get people to get into, not serious retirement savings or Social Security tax information.
@user-se1mi3si9d
9 ай бұрын
Based on the comments, there seems to be some confusion as to the 35, 50, and 85 numbers. This isn't the tax RATE, but rather the amount of income to be taxed. In the example given, if this couple is over 65, they still have their standard deduction to use. The AGI would be 52,200 and deduction is 27,700 for a taxable income of 24,500. Marginal rate is 12%. So, what started out as 40,000 in SS benefits, is reduced to 16,200 taxable, for a total tax of 1,944 on those benefits.
@jamesellery9238
Жыл бұрын
Thank you so much. I had never heard of the tests before and have not found a lot of info on the net concerning the tests. I have always done my own taxes and may have missed this. Fortunately for me I have not yet started collecting and will probably wait til FRA. Great channel!
@anniesshenanigans3815
5 ай бұрын
I am going to watch this several times until I can figure out that 3 option thing.. this is nuts!! I have prepared and filed my own taxes since I was 16. Even with property, deductions, etc.. nothing seems as convoluted as this!!
@carolynnorton9552
26 күн бұрын
I got confused too. He's going backwards in his explanation: He is first stating what the combined income is, THEN starts how he did the calculation to arrive at the combined income. It looks, at first, like he is using the combined income to start the calculation. Confusing!
@dougniwa8886
8 күн бұрын
Exactly what I was looking for. Thanks!
@davidwild3888
3 ай бұрын
Thanks for trying to explain this very confusing taxation. I hope my tax software encompasses it into the tax calculation.
@TheDealHunter
Жыл бұрын
Geoff - Thanks for saying, "may owe" a lot. The most valuable words in the tax code on this subject are, "may owe" and "up to". Most YT videos on this subject wrongly state that if your combined income falls in either the 50% or 85% range that your entire SS benefit is taxed at 50% or 85% which is far from the truth. Your worksheet makes this much less complicated.
@Buck0seven
Жыл бұрын
You are awesome, Geoff! Thanks so much for your useful information.
@HolySchmidt
Жыл бұрын
Thanks Buck
@southernbelle007
Жыл бұрын
Thanks so much Geoff!! Great way to start my day having my first year of claiming taxes on my SSR off of my mind!
@marcd1981
Жыл бұрын
All I can say right now is...wow... First, thank you for trying to explain this to the average tax payer out here. This is the first time I've looked into taxes on Social Security, and all I can think of is how insane the system seems to be. Why on Earth are there so many scenarios for the average person? We all know if you have enough money, none of this is even applicable, which makes it even more frustrating. I just retired last year at 59 years old. I was planning on retiring at 62, but there were multiple circumstances that allowed me to retire even earlier, saving my sanity in the process. One of these is the fact I have a pension to draw from which takes care of my expenses every month. I still have a 401k and Social Security to start drawing from, and I'm still making decisions for those withdrawals. Geoff, even with all of the information you just supplied in this video, my situation was not covered. You stated the single amounts, and the married, filing jointly amounts, to apply the three tests to when figuring your taxes. However, I have re-married in the past couple of years, but my wife and I do not file jointly. How does this information apply in my case?
@giemt1654
Жыл бұрын
thank you for this video Geoff! love the detailed explanation and example you’ve shared, learned something today 😊
@chanks9315
6 ай бұрын
If anyone's interested, I followed Geoff's calculations in Excel for my 2023 amounts as well as my estimated 2024 amounts. The excel results matched the Social Security Worksheet from H&R Block 2023 software. The 2023 values resulted in Test #1 while the 2024 values resulted in Test #3. THANKS GEOFF!!
@tomj528
Жыл бұрын
Nicely explained! About a month ago I used my own spreadsheet version I created a few years ago to calculate our tax free Roth conversions for 2022 before the end of the year. I love that thing as I can dial in our taxes perfectly to maximize the form 8880 retirement savers credit and any surprises can be corrected with our new IRA/Roth contributions made post 2022 but before April 18th and credited as 2022 contributions. IRA contributions to lower our taxable income and increased Roth conversions to increase it. Once done with our Roth conversions it's on to stepping up the cost basis in our taxable investments just in case congress wants to change the 0% LTCG/QD rate of the 12% bracket or if we find ourselves in a higher bracket later in life. I find that in this stage of our lives (and at every stage thus far) our spending or more to the point the lack thereof drives our tax plan/lack of tax liability more than anything. Cheers!
@todddunn945
Жыл бұрын
Or you could just use the worksheet on page 32 of the 2022 instructions for form 1040. It is actually very simple and Geoff's three tests are built into it so that you don't even notice them.
@BadPhD777
Жыл бұрын
Just went through page 32. They sure know how to make things complicated, but it works if you follow the instructions
@todddunn945
Жыл бұрын
@@BadPhD777I put that worksheet and the cap gains and qualified dividends worksheet into my tax spreadsheet. Now all I have to do is enter income numbers in the various categories. It is handy for tax planning.
@BadPhD777
Жыл бұрын
@@todddunn945 I've got it in my spreadsheet now too! Been comparing how much tax I would pay with and without taking SS. I live in Oregon, and they don't tax SS, so I'll save on taxes if I take SS and some IRA vs all IRA.
@todddunn945
Жыл бұрын
@@BadPhD777 I am in Maine where SS is also not taxed by the state. Maine also gives us the Full federal standard deduction plus a $4,700 dollar personal exemption in 2023. I hold some treasury securities that are exempt from state tax. Maine also has a sizeable pension/IRA/401K/403B exemption. Overall Maine treats retirees well. Incidentally, your screen name suggests that you too are an intellectual elite. Same for the both of us.
@BadPhD777
Жыл бұрын
@@todddunn945 I am one who does way too much pondering over the myriad of decisions when it comes to my retirement finances :-) The spreadsheet is my best friend!
@gmprouse874
Жыл бұрын
Really good to know. You have expertly explained it to simple calculations. Thanks for another wonderful video!
@AhJodie
Жыл бұрын
Makes my mind spin, but, thank you!
@mariloumesserly7977
Жыл бұрын
So helpful..I appreciate the way you make the confusing easy to understand!
@kellyyork3898
Жыл бұрын
Agree. Why wasn’t he my algebra teacher? I could have learned so much more. ; )
@dionysus2006
9 күн бұрын
Good video ! If I would have been able to keep all the money I paid in SS tax in my job over the last 40 years I wouldn't need SS. A failed system
@dc1741
3 ай бұрын
I just use the worksheet (page 32 of 114 in the 2023 1040 instruction book). From what I see, there is only one unique answer for a given situation, i.e., no picking btwn Case 1, Case 2, Case 3, etc.
@daveschmarder-1950
Жыл бұрын
I'm in the "0%" bracket for long term capital gains, and also get SS. When the calculations are done, those LTCG's aren't really tax free. They only become tax free after 85% of the SS is already taxed and before the tax bracket ceiling is reached.
@robertb3214
11 ай бұрын
This is great video. Thanks for showing the three tests.
@keithtimmons378
Жыл бұрын
Thanks much. Practical, usable subject matter.
@Eric-JohnDavis
5 ай бұрын
Can you share the "simple" worksheet you said was downloadable?
@jamesedwards2687
Жыл бұрын
Great explanation. Cleared up my confusion.
@vanthof9852
Жыл бұрын
Thank you, I've never seen options #2 or #3 before. Very helpful
@AlbertFraklin1970
10 ай бұрын
One should assume that all pension plans are already taxed, that would also include Social Security which for many they may need to pay quarterly due to their bank's report to the IRS.
@charlesbusch8739
6 ай бұрын
The rules were passed to tax the top ten percent of taxpayers receiving social security. By not indexing these thresholds about 90% are now taxed on some portion of their social security income. Simple solution raise the thresholds by indexing amounts for inflation.
@richardc488
Жыл бұрын
Thank you mr Schmidt
@ramesherrabolu1590
8 ай бұрын
Thanks for the video. It seems it is better to pay into Roth than Non-Roth so as to avoid distributions jack up the "Combined Income".
@jhors7777
Жыл бұрын
Thank you for posting this helpful Video. I really enjoy and appreciate your videos and your channel.
@sharonl4821
Жыл бұрын
Excellent example - very helpful!
@akontilis1792
Жыл бұрын
What a good video! I hope more people find this one!
@JBoy340a
Жыл бұрын
Good video. It's a shame that any of your SS is taxed, but it is good to see the calculations to minimize the taxable amount.
@kenc2257
Жыл бұрын
Thank goodness that tax software handles these calculations (and selects the most correct--the least amount--of tax due). [at least, I hope that's happening...]
@oliverw3646
Жыл бұрын
Excellent presentation! Thank you.
@Bruno-ho5jl
6 ай бұрын
As a matter of fairness I have no problem paying FITs on my social security benefit since my employers contributed approximately half of my total contribution. The employers was a deductible expense for them and that income to me has never been taxed. Anyone who says they should not be taxed on social security income because they have already paid taxes on it is incorrect. They have only paid taxes on one half of their total benefit. However I do think the income thresholds should have been indexed at origination of the law as it was inevitable that wage inflation would push most incomes above the thresholds. If they had been indexed the threshold for a single person would be almost $79K while a married couples would be almost $99K.
@cindyvitale9515
Жыл бұрын
Thank you. This was incredibly helpful.
@terryB4713
Жыл бұрын
Thankyou for Great information
@jeffklein602
Жыл бұрын
It's not easy, buy you certainly helped! Thanks.
@stevennevins6643
Жыл бұрын
Spend $40 on TurboTax, plug-in all of your income, including social security, hit the return key, and TurboTax calculates the taxed amount.
@OnCashFlow
10 ай бұрын
Thanks for the new knowledge!
@schadlarry
5 ай бұрын
I don't see a test 2 as an option. IRS does have a worksheet for the calculation which is basically test one or three but your examples are more straight forward.
@ag4allgood
Жыл бұрын
Great explanation Geoff of a confusing topic.
@davidgavney6711
4 ай бұрын
I have not seen all three tests anywhere before. Most people explaining this either do Test 1 and Test 3, or just Test 3, but with 85%. Only one other site did Test 3 with 35% (and they also had Test 1 with 85%). I've never seen Test 2 before with 50% of the total SS payment. It is very hard to find where the accurate source of information is when all these KZitemrs are explaining it different ways. Most people I've seen so far just explain it with Test 3 with 85%. Update: I found the IRS Worksheet 1 and examples where this is done (Pub 915). The reason why 35% is used in Test 3 is because 50% is used for the entire amount subtracting the lower threshold, so you only need 35% more for the upper threshold to make 85%. Test 1 and Test 3 are in there by default and the lower amount is chosen. Not sure if Test 2 is in there or it's a different Worksheet. There are nuances when lower income levels are used when trying to compare it to other KZitemr's videos. It didn't always tie out to the formula above exactly, but I may have missed something, or there may be assumptions I'm not using.
@dogsarefun2
Жыл бұрын
buy tax software (i use hr block). You can make multiple tax returns to see tax liabilities for various incomes....
@km-bo3zx
Жыл бұрын
I do the same.
@williamwells1862
7 ай бұрын
Thx, I am cornfused. Dats Y I have an accountant who worked for the IRS.
@TheDealHunter
Жыл бұрын
Geoff - I find it interesting that you use the correct term, "combined income". Many other financial professionals call it, "provisional income". Do you have any idea where the term "provisional income" originated and why it has such widespread use?
@ForestToFarm
5 ай бұрын
I would think to aid in keeping us all confused so we pay someone to take care of our finances. Terry
@jacobkowski7705
Ай бұрын
On his 3 test slide, I think AGI is a typo. It should be other income except for SS or something. AGI is an amount that contains taxable SS already, so it doesn’t make sense 😊
@yourpalfranc
5 ай бұрын
I've tried a couple of different browsers, but have been unable to download the worksheet??
@outwestexplorer1966
9 ай бұрын
Not only should social security not be taxed, the government should be paying us interest for all the years they have been taking social security from us.
@SandfordSmythe
6 ай бұрын
They do
@brianarbenz1329
Жыл бұрын
This was helpful. Thanks!
@MrWaterbugdesign
Жыл бұрын
I'm 66 and getting ready for a move to SE Asia and finding a great wife. Pretty cool that I'll get a break on taxes as I can use combined income.
@603storm
Жыл бұрын
Does a tax program like turbo tax have these calculations and recommend the best option?
@loureis4539
5 ай бұрын
your link to the work sheet does not work.
@yazminmojica4458
Жыл бұрын
You’re the best! Thank you ❤
@Morpheus197
5 ай бұрын
Hi Geoff, the link to the worksheet appears to be broken.
@kellyyork3898
Жыл бұрын
So you just get to choose the lowest number and put that number on the tax form where it asks for your yearly SSA payments instead of your ACTUAL yearly SSA payments. If that’s so, why doesn’t Turbo tax calculate it for you?
@pameliarobinson7557
Жыл бұрын
If you use software like Turbo Tax to do your taxes, does it calculate these numbers for you and figure out the best one? Or is this something I need to do manually?
@j.patrickmoore9137
Жыл бұрын
You beat me to that question...
@barbiec4312
Жыл бұрын
Yes, I need to know this too.
@johnscott2746
Жыл бұрын
Yes all of this is programmed in to the online tax programs.
@greganderson963
Жыл бұрын
So the government gives with one hand and takes back with the other.
@CritterCamSoCal
Жыл бұрын
Did not know about the 3 tests Great Vid.... does Tax filing Software calculate this ?
@elliottpeabody1287
12 күн бұрын
I can't find that tax form for computing the ss tax
@jalatlaco9827
26 күн бұрын
Any government entity that has a 100,000 page website needs to be simplified, streamlined and downsized. How much of our income taxes go JUST to keeping this going?
@f430ferrari5
Жыл бұрын
One portion which seems to be missing from this vid is the Standard Deduction. The SD increased significantly under the Trump tax cuts. So even in Jeff’s formula where $16,200 of SS is subject to tax this is then added to the 36,000 agi So 16.2k + 36k = 52.2k now deduct 26k or so standard deduction. This is only 26,200 of taxable income. The first 20,500 is at 10%. 2,050. The next 5,700 is at 12%. 684 So 2,734 in Fed taxes from 76k income. This is an effective tax rate of 3.6% And here is another kicker. Who would have 36k AGI. If this is from IRA withdrawals then at a 4% annual withdrawal would be 900k balance. The numbers not very realistic. Most will have a bigger SS and smaller IRA withdrawal. So taxes even lower. If one has a pension it’s a bit different.
@sharkair2839
Жыл бұрын
so this is confusing. if i get 25,000 from ss and a $7200.00 dollar pension i have to pay $15.000 in tax?
@diannastavros5086
Жыл бұрын
Thank you for the information. I was unaware of option 2 and option 3. After the video I looked on the SSA website and could not find this information. Would you post a link to where this information is? The link you posted to the SSA only explained option 1.
@kellyyork3898
Жыл бұрын
These formulas appear to be designed to benefit those who have more income coming from social security than they do other sources. Correct?
@jacobkowski7705
Ай бұрын
On 3 test slide, where did test 2 come from? I have never heard of this
@josegallegosdds
Жыл бұрын
That is kind of complicated. But well explained. Are Medicare premiums deducted from Social Security benefits before taxes?
@apga1998
Жыл бұрын
No they are not. Your taxable social security income( for the purpose of determining your combined income) is based on your Gross Benefit, not the amount remaining after your Medicare premium is deducted. The net amount is what is you receive each month. You do get to claim a standard deduction. This will reduce your taxable income.
@sharilyn61
8 ай бұрын
Yes. Premiums are deducted pre tax, and you have to pay taxes on them.
@dwftgg3478
3 ай бұрын
The link is not working
@paulforbes1217
Жыл бұрын
IRS form W-4P is written in Klingon. Please do a video on this new IRS nightmare. Thanks
@arizwebfoot
6 ай бұрын
The link is dead
@scottstebbins2841
Жыл бұрын
Could you explain military retirement as income for SS?
@edwardbutka4750
Жыл бұрын
You indicate that "tax free income" like municipal bond income must be included. Would that also include distributions from a Roth IRA?
@rickdunn3883
Жыл бұрын
I dont think Roth distributions (after 5 years) count towards combined income.
@DAS2165
4 ай бұрын
what about married filing single ? which bracket???
@user-pj9pb1zh7f
3 ай бұрын
I hear people come across the boarder get $2200 A MONTH FULL Healthcare a housing allowance. I've worked all most 50 years. $2700 a month. Then have to pay $180 a month for part B Medicare. I'm going to South America, then come back across the border. I would come out better.
@rossmcgreg6r642
Жыл бұрын
Question: with the three different tests: options you gave, if I use the govt. tax program how does it figure out which one to use? Does it use the one that benefits me or the one that benefits the govt.?
@deborariddle5779
3 ай бұрын
am not able to download the social security tax doc
@1FXC
5 ай бұрын
Link to worksheet doesn't work. Tried going to your home page to download from there but got same result. link is broken
@keithmachado-pp6fv
28 күн бұрын
Does turbo automatically calculate which of the 3 options is best.
@uaeio
Жыл бұрын
Problem: AGI Includes taxable SS income, so how is it possible to calculate combined income? It’s a dog chasing it’s tail.
@Bergarita
3 ай бұрын
I just started receiving SS benefits this year-2024. I did a pro-forma tax return using my actual 2023 return and adjusting it for expected SS payments this year and submitting quarterly Federal Income Tax estimates to the IRS. My question is will tax preparation software like Tax Cut and Turbo Tax automatically select the best option for you?
@brandondixon2303
Жыл бұрын
Thanks Geoff!
@cherylcampbell7495
Жыл бұрын
Received my 8.7 raise and what a joke. My bills went up $55.00 more a month.I was better off before the ssa raise.
@MILGEO
Жыл бұрын
I wonder what is considered income in this scenario? Interest, short term capital gains, long term capital gains, IRA withdrawals, income from a part time and full time job, or are they still working on how to make it more complicated?
@Satjr35031
Жыл бұрын
Income is Income except if it’s a Roth IRA
@jamessloven6676
Жыл бұрын
I am retiring shortly at age 62 and will start receiving my SSi benefit immediately while my wife will continue to work until age 65. Our income sources will be my SSI, my wife's W-2 income and monies derived from the rental real estate we own. My question is whether or not the rental income will used in the SSI taxation formula?
@sandsleeper3124
Жыл бұрын
I tried checking last years taxes using your worksheet to make sure I paid the least amount in taxes. I noticed what you call AGI or adjusted gross income is different form what the IRS calls AGI. Your AGI does not include Social Security income but AGI in the 2022 form 1040 (line 11) includes Social Security payments (line 6b added in line 9).
@HighCountryRambler
11 ай бұрын
Didn't he state you use 50% of your SS income for AGI? One of the first slides.
@jimringomartin
4 ай бұрын
Where and when do I enter the $16200. In the far right as my SS income? Or put my gross there? Please someone explain
@HiPoint-ql3rs
4 ай бұрын
So only half of your SS payments are counted towards your total taxable income ?
@commonsense6967
Жыл бұрын
If the gubbermint were interested in taxing fairly, only the total amount of your income would be considered as potentially taxable, NOT the source of it, as it is now. The federal gubbermint wants us seniors completely dependent upon THEM. If seniors have done the responsible thing and provided for their retirement in additional ways (even though their total income might be far less than someone drawing only SS) they shall be punished, by having their SS taxed.
@menurager2199
4 ай бұрын
Hus and will be full age retirement and wants to collect social security and still work full-time, and they take 85 percent from social security,... Does that mean they take 85 percent of your social security??
@PasspointComics
9 ай бұрын
When do you actually pay for social security taxes?
@HolySchmidt
9 ай бұрын
It depends on your situation, but either quarterly or on April 15th depending on how much income tax you owe in totality.
@markdismang8550
4 ай бұрын
I'm confused, do u use Combined income or AGI.
@wasntmeXYZ
Жыл бұрын
Please tell me why I’m paying tax on money that was already taxed?
@baron7024
Жыл бұрын
Because Ronald Reagan signed a set of Amendments in April 1983 with overwhelming bipartisan support .
@thomast3570
Жыл бұрын
You are not being taxed on your own contributions.
@Satjr35031
Жыл бұрын
It’s not so much taxing SS it’s the other provisional income you receive from IRA except ROTH 401K etc that can tax your benefits
@hildebertocarreiro9232
Жыл бұрын
U better tell gov. Update taxes on disability because minimum wage is 15 hr.
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