Monday, May 11, 2009

Social Security and Income Tax

I am often asked "Are my social security benefits taxable?" About the best answer I can give is "Maybe." There is an excellent article discussing the various aspects of taxes and Social Security benefits on NOSSCR'S website.

SSI benefits are not subject to income tax.

I direct your attention to the end of the article if the government is now telling you that you owe.

The best resource is always a tax professional. Please note: I am not a tax professional.