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In fact, about 40% of people who get Social Security have to pay federal income taxes on their benefits. If that check is your only retirement income, you likely won’t have a tax bill.
For the 2021 tax year (which you will file in 2022), single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits.
Here are the nine states that tax Social Security benefits in 2025: ... below the limit when benefits become taxable, you won't owe money. ... to reduce your income and avoid taxes on Social ...
Seniors living in Vermont can expect to pay between 3.35% and 8.75% in state income tax, but whether your Social Security benefits are excluded depends on your filing status and adjusted gross income:
Missouri taxpayers 62 and older with AGIs under certain limits can completely exempt their Social Security income from state taxation. Otherwise, it may be taxable at a rate between 1.5% and 5.4%.
Taxing a portion of earnings above the current-law taxable maximum. Example: “Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2022-2031).
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