Ask Larry

How Much Of My Income Is Going To Be Taxable?

I am currently 69 years old and just started working. I receive full Social Security benefits through the widows benefits and I am receiving DIC from the veterans how much of my income is going to be taxable

Hi. My expertise is limited to Social Security benefits, so here is what I can tell you. Social Security taxes are collected on covered earnings regardless of the worker's age and whether or not they are drawing Social Security benefits. And, part of your Social Security benefits can be taxable as income depending on the amount of your total countable income. For more information on taxation of Social Security benefits, refer to the following Social Security website: https://www.ssa.gov/benefits/retirement/planner/taxes.html.

Best, Jerry

Posted: 
Sep 22 2021 - 9:25am
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.