Over 40% of seniors owe taxes on their Social Security benefits and every year that numbers is going up. Are you one of those folks? According to the IRS, if you’re single and have income between $25,000 and $34,000 a year, you are rich and have to pay taxes on your earned benefits. And if you’re married and have income between $32,000 and $44,000, you have to pay taxes on your benefits. This comes as a complete shock to many retirees in these income brackets, who hardly consider themselves rich. To make matters worse, in addition to federal taxes on benefits, 10 states also tax your benefits. Those states are: Colorado, Connecticut, Kansas, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont and West Virginia. To read more, click here.
Help The Seniors Center Protect the Future of Social Security
At The Seniors Center, our goal is to help seniors, and we’re doing that by protecting the future of Social Security. Retirees shouldn’t have to worry about losing their hard-earned benefits to taxes or the agendas of greedy politicians. If you agree, we invite you to sign our petition today!
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