PRIME TIME
April 2017
How Working In Retirement Can Affect Your Social Security Benefits
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nontaxable interest, and half of
your Social Security benefits is
between $25,000 and $34,000
for individuals ($32,000 and
$44,000 for couples), you have
to pay tax on up to 50 percent
of your benefits. Above $34,000
($44,000 for couples), you could
pay on up to 85 percent, which
is the highest portion of Social
Security that is taxable. About a
third of all people who get Social
Security have to pay income
taxes on their benefits.
For information, call the
IRS at 800-829-3676 and ask
them to mail you a free copy
of publication 915 “Social
Security and Equivalent Railroad
Retirement Benefits,” or you can
see it online at IRS.gov/pub/irs-
pdf/p915.pdf.
In addition to the federal
government, 13 states –
Colorado, Connecticut, Kansas,
Minnesota, Missouri, Montana,
Nebraska, New Mexico, North
Dakota, Rhode Island, Utah,
Vermont and West Virginia – tax
Social Security benefits to some
extent, too. If you live in one of
these states, you’ll need to check
with your state tax agency for
details.
C
M
Y
Send your senior questions
to: Savvy Senior, P.O. Box
5443, Norman, OK 73070,
or visit SavvySenior.org. Jim
Miller is a contributor to the
CM
MY
CY
CMY
K
19
NBC Today show and author of
“The Savvy
Senior” book.
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