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About Income Tax on Social Security Benefits
About Income Tax on Social Security Benefits
Lifestyle
September 26, 2023
About Income Tax on Social Security Benefits

started receiving my Social Security in February of 2023. I am also working part time at a company 24 hours a week. My question is... I feel like I missed something when I signed up for Social Security because they are not taking any taxes out. What did I miss? How do I go about fixing it so I don’t get hit at the end of the year? They are taking taxes out of my paycheck now, do they still take it out of my Social Security because I am working? Please help if I am not doing something right. Signed: Conscientious Senior Dear Conscientious: Unfortunately, when the Social Security Administration processes your application for benefits, they don’t usually inform you that your Social Security benefits may become part of your taxable income. I expect that’s because your benefits only “may” become taxable – they do not definitely become taxable, because Social Security benefits are taxed only if you exceed a certain income threshold.

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