Is Social Security Income Taxable in 2020?

One of the most popular questions we get from Social Security applicants and new beneficiaries is whether Social Security income is taxable. The simplest answer is yes, Social Security is taxable at the federal level and even in some states. This usually comes as a surprise to many new Social Security beneficiaries. That is because, after working their entire lives and having Social Security payroll taxes withheld from their paychecks, many workers feel like they’ve earned their Social Security benefits and are not sure why they have to pay taxes on them. In this post, we will explain why Social Security […]
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