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 CGCPA Your Own Question
Category: Tax
Satisfied Customers: 3820
Experience:  over 40 years experience in tax matters
Type Your Tax Question Here...
CGCPA is online now
A new question is answered every 9 seconds

I am retiring at years end. My Social Security payments will

This answer was rated:

I am retiring at year's end. My Social Security payments will be $1680 per month. I will also be receiving $1830 per month in pension payments. Can you tell me what my tax liability will be for those amounts annually? Thank you.

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.


Here is how I see this:


Monthly income Pension 1830

SS 1680


Tax return (assuming single, no dependents - anything else will be better for you)


Pension income 21,960

Taxable SS 10,080 (1/2 taxable)


Total Income 32,040

Standard deduction -5,800

Exemption -3,700


Taxable income 22,540

Tax 2,960 (from tax tables)

Est for state 987 (1/3 of federal)


Total tax 3,947


From this subtract any tax withheld and you will have a ballpark refund/owed amount.

CGCPA and other Tax Specialists are ready to help you