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Wendy Reed
Wendy Reed, Enrolled Agent
Category: Social Security
Satisfied Customers: 3346
Experience:  15+ years assisting tax clients with taxation and eligibility of Social Security Benefits.
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Should I have taxes taken out of my check.

Customer Question

Should I have taxes taken out of my check.
Submitted: 5 years ago.
Category: Social Security
Expert:  dylatess replied 5 years ago.
The withholding of taxes is not an option. that is, even if you are receiving SS benefits, an employer is required to withhold taxes. thanks for your question.


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Customer: replied 5 years ago.
Maybe I did not clarify myself. Should I have taxes taken out of my social security check?
Expert:  Wendy Reed replied 5 years ago.

Hello,

If you are working full time and collecting social security at the same time, I would definitely recommend having federal taxes withheld from your SS check. This is the form that you can use to have tax withheld: http://www.irs.gov/pub/irs-pdf/fw4v.pdf

You have an option of 7%, 10%, 15% or 25%. If you can handle it, I would recommend 25% for the first year that you collect SS. Better to overestimat than owe.

 

I can help you estimate a tax liability if you need, but I would need more information. Let me know if you would like that.

Wendy Reed, Enrolled Agent
Category: Social Security
Satisfied Customers: 3346
Experience: 15+ years assisting tax clients with taxation and eligibility of Social Security Benefits.
Wendy Reed and other Social Security Specialists are ready to help you