Taxing social security
I am 68 and receiving social security. I also work full time and I am wondering why, when I filed my 2020 taxes I had my social security ratings taxed and ended up paying over $8,000.00 in taxes? I claim “married deduct at a lower single rate”. Thank you for your thoughts on this matter
Terry Says
You don’t get penalized on your SS payment for earning money once you’re past full retirement age. BUT, all earnings are subject to both income taxes and SS taxes! Aren’t you glad you can still work and earn money to supplement Social Security?
