How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Category: Social Security
Satisfied Customers: 9743
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Type Your Social Security Question Here...
Lane is online now
A new question is answered every 9 seconds

If i start to work now how much will my SS payments be taxed

Customer Question

if i start to work now how much will my SS payments be taxed Norman ************* *************
Submitted: 6 months ago.
Category: Social Security
Expert:  Lane replied 6 months ago.
Hi Norman...The amount of your social security that can be added to your TAXABLE income depends on a formula....Take 1/2 OF your social security, add it to all other household income (earned and otherwise)...Then if you are a single filer, if that number is ***** 25,000 (again 1/2 of social security benefit plus everything else for the year) the social security is not taxable at all...For joint filers, that number is ***** for amounts above that, (25,000 for single, 32000 for joint) that the percentage of social security moves from being 50% taxable up to 85% (that formula based number being up to 34,000 for a single filer and 44,000 for joint filers)...But no more than 85% of your benefits can ever be taxed.
Expert:  Lane replied 6 months ago.
If you'd like to tell me what you'll be earning, what your social security benefit IS (no personal information please) I can run the numbers FOR you...let me know...Lane
Expert:  Lane replied 6 months ago.
you can read about this directly ON Social Security's site here: this HAS given enough information, and you DON’T have other questions … I'd appreciate a positive rating (using the faces or stars on your screen, and then clicking “submit")...JustAnswer will not credit me for the time and work until you have rated in this way....Thank you!Lane……I hold a law degree (JD, Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security/Medicare, estate, corporate, both for-profit and non-profit, and tax advice, since 1986.

Related Social Security Questions