Taxes

Voluntary Tax Withholding

July 30, 2017

If you find yourself owing money to Uncle Sam every year in April, voluntary tax withholding from your Social Security benefits could be the answer for you. If you receive Social Security Retirement or Disability benefits you can designate a percentage of your benefit amount to be paid to the IRS each month. This amount [...]

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Social Security 1099 Forms

June 30, 2017

As of today Social Security has completed mailing form 1099 to all Disability and Retirement beneficiaries. The amounts on this 1099 have been reported to IRS for tax purposes. Remember, Social Security benefits (with the exception of SSI) are not exempt from Federal income tax. Whether or not you have to pay income tax at [...]

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Are Social Security Benefits Taxable?

December 12, 2016

Social Security benefits are not exempt from Federal income tax. This is true for both Social Security retirement and disability benefits. SSI benefits however, are not taxable. Whether or not you have to pay income taxes on these benefits depends on your total income for the year. For most people who receive Social Security benefits [...]

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