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Withholding Taxes from Social Security

June 13, 2018

From the Kiplinger Magazine website

You aren’t required to have taxes withheld from your Social Security benefits, but voluntary withholding can be one way to cover any taxes that may be due on your Social Security benefits and any other income.

A portion of your Social Security benefits will be taxable if your income—such as from freelance work, a taxable pension and IRA withdrawals, or nontaxable interest—plus half of your Social Security benefits add up to more than $25,000 if single or $32,000 if married filing jointly (see Calculating Taxes on Social Security Benefits for more information).

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