2 Replies Latest reply on Jan 25, 2015 9:39 AM by smaneck

    They goofed!

    smaneck

      TIAA goofed big-time in a recent article about Social Security. They wrote:

       

      1. Income levels and tax filing status matter. A lot. If you’re married and you file a joint tax return, for 2014 your Social Security benefits are not taxed if your combined income falls below $32,000. Half of your Social Security income is taxed if your income is between $32,000 and $44,000, and 85% of your benefits are taxed if your income exceeds $44,000. The rules are different for singles, who can earn up to $50,000, instead of $32,000, before their benefits are subject to federal income tax.

      Wrong, wrong, wrong. If you are single you begin having to pay taxes on Social Security when your income goes above 25K

      http://www.ssa.gov/planners/taxes.htm

       

      Get it together people!