Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Social Security State Tax (https://www.askmehelpdesk.com/showthread.php?t=827659)

  • Sep 17, 2016, 05:21 AM
    pastor1189
    Social Security State Tax
    Someone told me some states charge a tax on your social security income. One of the states is Vermont. Isn’t that the state, Bernie Sanders comes from. Isn’t he looking out for the poor?
  • Sep 17, 2016, 06:35 AM
    ma0641
    Only if you pay federal tax on you SS. Poor people wouldn't pay it.
  • Sep 17, 2016, 07:24 AM
    ScottGem
    Bernie is a US Senator, not a State legislator. While he may have an influence he does not have any say in state laws.
  • Sep 17, 2016, 07:33 AM
    pastor1189
    Oh I see. Very interesting
  • Sep 20, 2016, 01:45 AM
    AtlantaTaxExpert
    Comments made are VERY valid.
  • Sep 20, 2016, 06:01 AM
    joypulv
    You pay taxes on SS if you file as an individual and your combined income exceeds $25,000.
    If you file a joint return, you pay taxes if you and your spouse have combined income of more than $32,000.

    “Combined income” includes your adjusted gross income, tax-exempt interest income and JUST HALF of your Social Security benefits.
    Let's say you are a couple and you each got 12,000 SS, and one of you worked part time and earned another 15,000, = 39,000. BUT notice the half! You don't owe on any of the SS, because half of 24,000 SS = 12,000, + 15,000 from working equals 27,000, below the 32,000 limit for couples.

    Most state taxes I know about pretty much follow the federal rule.
  • Sep 20, 2016, 07:15 AM
    ma0641
    Georgia excludes ALL SS, pension and IRA income from taxation. Plus, the county I live in eliminates school taxes on your house when you turn 65. Great place to retire!
  • Sep 20, 2016, 08:52 AM
    joypulv
    What??? I pay 327/mo for property tax and that's after the senior discount. About 2/3 of it is for education!
  • Sep 20, 2016, 11:50 AM
    ma0641
    Quote:

    Originally Posted by joypulv View Post
    What??? I pay 327/mo for property tax and that's after the senior discount. About 2/3 of it is for education!

    Cherokee County GA, metro Atlanta. Must be65+. House tax base $237,000, paid $874 last year. Some counties have income limits, some don't, must be primary residence. Google" senior property tax exemption in GA". As I said, great retirement location, particularly in the mountain areas.

  • All times are GMT -7. The time now is 07:30 AM.