Your Social Security Benefits Could Be Taxed Twice if You Live in Any of These 9 States
Taxes on Social Security benefits have gotten a lot of attention over the last few months, ever since President Trump vowed to eliminate them on social media. If you owe them, you probably know they can cost you quite a bit. The IRS taxes up to 85% of some seniors' benefits at ordinary income tax rates, which can amount to thousands of dollars.That's difficult enough to swallow. But if you live in one of the nine states listed below, you could face a second benefit tax that could take even more of your checks.Image source: Getty Images.Continue reading
Taxes on Social Security benefits have gotten a lot of attention over the last few months, ever since President Trump vowed to eliminate them on social media. If you owe them, you probably know they can cost you quite a bit. The IRS taxes up to 85% of some seniors' benefits at ordinary income tax rates, which can amount to thousands of dollars.
That's difficult enough to swallow. But if you live in one of the nine states listed below, you could face a second benefit tax that could take even more of your checks.
Image source: Getty Images.
