Calculating Taxes on Social Security Benefits
One of the biggest misconceptions about Social Security benefits is that they are tax free. And even though the politicians talk about eliminating all taxes on it, I doubt that will ever happen because we are talking about trillions of dollars the politicians won't have to spend on political favors.
During the last 23 years, I have been amazed of the fact that so many people do not know that the federal government can tax up to 85% of our Social Security benefits. So, you need to know how those taxes are calculated.
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