TAX TIME =taxes on ssd benefits. This is what they say.

Discussion in 'Fibromyalgia Main Forum' started by suzetal, Jan 23, 2006.

  1. suzetal

    suzetal New Member

    Paying taxes on your benefits.Some people who get ss have to pay taxes on their benefits.About one -third of current beneficiaries pay taxes on their benefits.You will be affected only if you have substantial income in addition to your ss. benefits.

    If you file a Federal tax return as an "individual " and your income is more than $25,000.00 you have to pay taxes.

    If you file a joint return, you may have to pay taxes if you and your spouse have a combined income that is more than $32,000.00.

    If you are married and file a separate return , you will probably pay taxes on your benefits.

    All this info is from SS.Also If you got back benefits for previous years you should ask your preparer if you should file amended taxes for those years.

    Sue
  2. matthewson

    matthewson New Member

    I used to prepare taxes years ago as a side job, and people would come in and be really mad because they had to pay taxes also on unemployment benefits. They usually took it out on us! I had to keep saying, I don't make the tax laws!

    It is very important to find out exactly what taxes you may have to pay if you are collecting any kind of unemployment, SS, ect. Otherwise you can get hit with a big tax bill come April 15th.

    Thanks for the post. Sally
  3. 69mach1

    69mach1 New Member

    i read up on that already...just don't have my 1099 yet...


    jodie
  4. JLH

    JLH New Member

    Thanks for reminding everyone of this timely info.

    I voluntarily have federal taxes taken out of my SSDI check which helps when tax time comes, as I DO have to pay on my benefits.

    This was brought up recently and I can't remember who it was, but she refused to believe that there was ever a case where you had to pay on your SSDI. I could not convince her that, IN SOME CASES, people DO HAVE TO PAY, but it is according to your income.

    Oh, how I always dread tax time!!!! Ugh!


    Janet