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Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13505
Experience:  19+ years legal exp. - 10+ years owning/operating her own SSD Law practice.
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With taxable income at $30951, how much of my $24,970 Social

Customer Question

With taxable income at $30951, how much of my $24,970 Social Security benefit is taxable?
Submitted: 1 year ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 1 year ago.
Hi, my name is ***** ***** I thank you for your inquiry. I have been practicing SS law full time for 10+ years and look forward to assisting you.
That will depend on your "combined income", filing status.
If you:
file a federal tax return as an "individual" and your combined income* is:
*between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.
*more than $34,000, up to 85 percent of your benefits may be taxable.
If you:
file a joint return, and you and your spouse have a combined income* that is:
*between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits
*more than $44,000, up to 85 percent of your benefits may be taxable.
If you:
*are married and file a separate tax return, you probably will pay taxes on your benefits.
Here is how you figure your COMBINED INCOME:
Your adjusted gross income
+ Nontaxable interest
+ ½ of your Social Security benefits
= Your "combined income"
Plug in your actual numbers from your tax records, and this will tell you WHAT portion of your SS will be taxed vs. what part NOT TAXED.
I hope this helps! My goal is to provide you with excellent and accurate service – if you feel you have gotten anything less, please reply back, I am happy to address follow-up questions. Kindly rate me "excellent" when you are done. I look forward to assisting you in the future, should you have legal questions. Be sure to start future posts with "To Stephanie O Joy Esq., ONLY" if you want me to specifically answer it.
Sincerely, ***** ***** Joy, Esq.
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