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Christopher B, Esq.
Christopher B, Esq., Tax Attorney
Category: Tax
Satisfied Customers: 2983
Experience:  associate attorney
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I took my social security at age 661/2, I still work 36 hours

Customer Question

I took my social security at age 661/2, I still work 36 hours per week; do I have to pay federal and/or state tax on that income? ( I live in Vermont)
Submitted: 1 year ago.
Category: Tax
Expert:  Christopher B, Esq. replied 1 year ago.
My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship. Yes, you have to pay federal/state taxes on your normal income like always, nothing changes after you retire. As for social security income, you also have to pay taxes on that and social security will provide you with a 1099. If you file a federal tax return as an "individual" and your combined income (social security and earned income from work) 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 (social security and earned income from work) 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. Understand the percentage is not the total tax just the percentage of your benefit that you pay your normal tax rate for. So you aren't paying an 85% rate. It is likely that you will pay taxes on 85% of the SS you received plus whatever income tax on your normal earned income. Please let me know if you have any further questions and please positively rate my answer if satisfied. There should be smiley faces or numbers from 1-5 to choose from. This extra step will cost you nothing extra and will ensure that I will be compensated for my time by the site.
Expert:  Christopher B, Esq. replied 1 year ago.
Just checking back in, do you have any further questions?