Social security
Last year I didn’t have taxes taken out of my SS for 10 months. When I filed my income tax, I did get a small refund. I’m thinking due to the new deduction for seniors, this has helped me. (Thought I’d have to pay!) Is this a good idea to not have taxes taken out? Getting the full amount monthly helps make ends meet. Thank you
Terry Says
That all depends on your total income picture. Yes, the new $6,000 deduction did help keep you from paying taxes. And if your income situation remains unchanged, then you can stop having taxes taken out this year — though you might owe a small amount next April — because the higher senior deduction is permanent.
