The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Taxes on SS Benefits||Date: 4/11/2013 11:10 AM|
|Author: Wradical||Number: 118368 of 125861|
"It's also worth pointing out that while it may be taxed from 0% to 85%, it isn't on a sliding scale. It's either 0%, 50% or 85%"
Where did you get that? It is very much a sliding scale. 28.3% of mine was taxed for 2012. In 2011 it was close to 60%. 85% is the max that can be taxed. 0% is the least. But it could be anything in between depending on your income.
You're both right - sort of. SS Benefits can be taxed partly at 0 and partly at 50%, OR partly at 50% and partly at 85%, which can end up with the percentage subject to tax being almost anything.
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