Do I have to pay taxes on my Social Security benefits?

😃💯Who is Dr. Ed?
Dr. Ed Weir, PhD, Former Social Security District Manager; Former Family Services Specialist, Department of Social Services; Former Marine Corps Sergeant; University Adjunct Professor. Dr. Ed is one of the most experienced government benefits experts in the country and in his (semi)retirement, he has made hundreds of YouTube videos in order to help seniors, the disabled, survivors, retirees, disabled children, spouses, and others in every state get the benefits they need!

⚠️I am not an attorney, tax advocate, or currently affiliated with the Social Security Administration or any other entity of the US Federal Government. My advice and opinions are based on my decades of experience inside the government. However, the Social Security Administration is the final decision maker when it comes to your benefits.

#socialsecurity #medicare #seniorcitizens#seniorcitizens

[MyGovExpert]

😃Do you have questions about Social Security, Medicare, Medicaid, etc.? Want to make sure you're receiving all the benefits you can? Join our weekly LIVE Q&A with Dr. Ed. Thursdays at 4pm PST. (7pm EST)

[Dpsnadress]

I'ma paraplegic confined to a hospital bed.. also I'm a single father.. which is hard.. but I've been in this exact same spot for three years now.. i have never been able to go do taxes.. hope I'm not gonna get arrested!! 😂 I only get 790$ a month.. so i definitely don't make enough to live.. my rent alone is 500$.. leaving only 290 to pay electric, water, trash, phone.. i can't even afford to turn on my gas.. but we make it work with space heaters..

[unclelewtravels]

You showed, but didn't say the income threshold is combined income which includes 1/2 of SS benefits.

[yevonnefletcher]

If I get a pension from my school system is that concerned income?

[ludmilamaximov]

How to pay tx if you live abroad?
Thank you for helping people 🙏

[randolphh]

The tax calculation is correct BUT does not include the standard deduction. So you may still not pay any tax, even though you have “too much” income

[susieq]

To recalculate benefits with the fairness act do I need to use the bend points in 2024 or 1983?

[yvonnenielsen]

Very good video. Thank you for the easy explanation. I have a question about if SS becomes non-taxable and doing a Roth conversion. Currently I have been calculating if I converted some of my 401k to Roth. Which is a sizable tax hit on my social security benefits. I haven't done it yet. I'm still thinking about it. Do you think that if the federal tax law changes and SS becomes non-taxable, that this could present an optimal opportunity to do some Roth converting? That's IF SS is no longer federally taxed and there's no 'new' rule on Roth converting.

[lrosan]

I retired at full retirement age, 66 and 2 months, but I’m still work full time as self employed. Why do I continue to pay taxes? How much should I pay?

[SomebodySaid...]

Can you please do a video on Spousal Benefits? I am older than my husband and reached FRA last month and received my first SSA check this month. When my husband applies for his benefits at his FRA, half of his benefit will be higher than my benefit (if he applied today half of his benefit would still be more than mine). Can I switch to getting half of his benefit later when he begins claiming benefits at his FRA or am I stuck getting my lower amount until one of us passes away? Thank you for your help!

[ninal]

Do you work with Aflac supplement plan? What’s your experience?

[TheLookingOne]

Hello Ed,

When your SS benefits are taxed, at what rates are they taxed?
Is the rate the same as for regular income - meaning that the amount of taxed SS benefits are treated like your other sources of income (such as interest and dividends)?

[Lilliana]

My spouse works so we have to pay taxes on all mine, well I think its 85%. Its sad they can do that.

[wayne]

Last year I retired in may 2022 I collected social security all year when I worked I made 17.000 social security I made 1600 a month I lived in Texas do I have to pay taxes ! Can you help me please. Sir

[ninal]

Do you work with Aflac supplement plan? What’s your experience?