Retirees in These 9 States Could See Their Social Security Checks Taxed
Social Security is an essential piece to most American's retirement plans. Without their monthly benefits, some 16.3 million seniors U.S, would be living below the poverty line, according to the Center on Budget and Policy Priorities. And even for those above the poverty line, every single penny counts for the millions of households receiving Social Security benefits. Unfortunately, retirees living in nine states could find out they don't get to keep all of their Social Security benefits. Their state governments tax Social Security benefits based on their income, cutting their benefits by almost 10% in some cases. Here's what you need to know.Image source: Getty Images.Continue reading
Social Security is an essential piece to most American's retirement plans. Without their monthly benefits, some 16.3 million seniors U.S, would be living below the poverty line, according to the Center on Budget and Policy Priorities. And even for those above the poverty line, every single penny counts for the millions of households receiving Social Security benefits.
Unfortunately, retirees living in nine states could find out they don't get to keep all of their Social Security benefits. Their state governments tax Social Security benefits based on their income, cutting their benefits by almost 10% in some cases. Here's what you need to know.
Image source: Getty Images.
