Besides income taxes, what else will be deducted from social security benefits? I recently saw this article: http://finance.yahoo.com/focus-retirement/article/112844/3-w...and found out that medicare is taken out. I posted on this wall a long time ago and was told that only federal income taxes would be taken out, so I never worried about medicare or state income taxes. Does anyone truly know what all of the taxes are that will be taken out of social security benefits?
kjk199,This is the Medicare premium, not Medicare tax.If you have earned income over the ammounts listed, your SSA benefit starts to become taxable for federal income tax. Other retirement payments/pensions do not count as earned income.Of course, all this is on the table as the federal budget drama unfolds.Gene
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