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Use taxable income and delay claiming Social Security One way to guarantee that no tax will be applied to your Social Security benefits, at least for a period of time, is not to collect them.
For the 2023 tax year, your employer has to stop taking out Social Security taxes when your income surpasses $160,200. You're still obligated to pay the taxes on all income less than that amount.
You might also be eligible for other benefits such as the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). For example, you can claim the CTC if you have kids ages 17 and younger.
One-half of your Social Security benefits. All other income, including tax-exempt interest payments. So, if you received $20,000 in Social Security benefits and no other income, your gross income ...
If you receive Social Security benefits plus other income, your tax obligation depends on how much you earn. ... You must pay taxes on your Social Security benefits if you file a federal tax ...
But here’s the caveat: To receive tax-free Social Security, your annual combined, or provisional, income must be under certain thresholds: $25,000, if you’re filing as an individual $32,000 ...
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