Do you pay taxes on Social Security?
Yahoo Finance·2024-02-20 22:57
If you get Social Security, some of your benefits may be taxable at both the federal and state level. Though President Trump has called for ending income taxes on Social Security payments, up to 85% of your benefits may be taxable at the federal level, depending on your income and filing status. However, the One Big Beautiful Bill Act created a new standard deduction for 2025 that will result in a lower tax bill or larger refund for many Social Security recipients. That doesn’t mean you'll pay up to 85% o ...