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Wake up to your world in 2 minutes.
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http://turbotax.intuit.com Is social security taxable? Learn more about taxes on social security benefits, and find out how ...
to calculate your taxes on social security payments.
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Hello, I'm Jeremy from TurboTax with some important information for retirees who receives social security benefits. Many retirees don't realize that it's possible for a portion of their social security benefits to be taxed. This will only happen when you receive other types of income during the year regardless of whether that income is taxable or not. Here's a simple calculation you can use to gauge whether you may have to pay tax on your benefits. Take 50 percent of the social security payments you receive for the entire year and add it to all other taxable and non taxable income you receive. If you have other types of income that are specifically excluded from income tax you may even need to add this in as well. Once you add these up compare the total to the base amount for your filing status in the instructions to your return. If the sum of your income is more then the base amount then up to 85 percent of your social security benefits may be subject to income tax. But regardless of how much other income you receive during the year a portion of your social security payments will be taxed if you live with your spouse but file separate tax returns. If you use TurboTax we'll ask simple questions about your income then calculate whether you owe any taxes and if so, how much. For more tax tips and guidance, visit TurboTax.com.
Hola, soy Jeremy de TurboTax con información importante para los jubilados que reciben beneficios del seguro social. Muchos jubilados no se dan cuenta de que es posible que una parte de sus prestaciones de seguridad social tengan que pagar impuestos. Esto sólo ocurrirá cuando se recibe otro tipo de ingresos durante el año, independientemente de que el ingreso sea gravable o no. He aquí un cálculo simple que puedes utilizar para medir si es posible que tengas que pagar impuestos sobre tus beneficios. Toma el 50% de los pagos de seguridad social que recibes durante todo el año y agrégalo a todos los otros ingresos gravables y no gravables que recibes. Si tienes otro tipo de recursos que están específicamente excluidos de los impuestos sobre la renta, incluso puede que tengas que incluirlos también. Una vez que los sumes compara el total con la cuantía básica de tu estado civil en las instrucciones de tu declaración. Si la suma de tus ingresos es más que la cantidad base, hasta el 85% de tus prestaciones de seguridad social pueden estar sujetas a impuestos. Pero, independientemente de cuántos otros ingresos recibas durante el año, una parte de tus pagos de seguridad social serán gravados si vives con tu cónyuge, pero presentan declaraciones de impuestos por separado. Si utilizas TurboTax vamos a hacer preguntas sencillas sobre tus ingresos, luego calcularemos si debes impuestos y si es así, cuánto. Para obtener más consejos y orientación sobre impuestos, visita TurboTax.com.