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How Social Security is Taxed | Made Easy!

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SS is a scam The government is screwing old people who need every penny they could get
Comment from : @maxg6587

Social Security should not be taxed, as that money has already been taxed We have long since known that politicians have been robbing Peter to pay Paul to cover for the lack funds available for Social Security because they have been borrowing from it, which is morally and ethically unacceptable
Comment from : @user-MetalAngel

Paying taxes on money that has already been taxed
Comment from : @stanhope1353

Thank you very informative
Comment from : @perlitagamazan4826

This has been very helpful I am a new tax preparer I am shocked at the fact that I’m here training to do taxes on client’s actual taxes I had to come here to understand this 100,000 pages on the IRS website sounds about right You will also enjoy needing to read several publications to get a well rounded, complete answer to your question Have fun!
Comment from : @LucretiusDraco

Thank you so much
Comment from : @MariannaRosas-m3g

I have 28400 in social security income and 3800 dollars in interest and dividends, will I need to file taxes Can’t really get a straight answer from anyone
Comment from : @TheLuckie222

What happens if you are living abroad and also receive a social security payment (adjusted) from the host country?
Comment from : @licolamare34

This is crazy I had to rewind your video 6 times to catch everything Thank you for your information and video
Comment from : @RetiredTop43

It is ridiculos that we are taxed 2x
Comment from : @edwinapinnock8622

Nothing easy in this video just more confusion,,why not have a 1 minit video explaining anything under 25000 for single or 32000 for married is not taxable and explain that 2 people on ss making 60000 combined will have 50 percent of of both go toward the cutoff of 32000,meaning they will have a combined of 30000 short of the 32000 threshold and will not be taxed at all
Comment from : @joeblow9548

So even though the SS administration says after FRA, you can make as much as you want and without it effecting your SS benefit, the taxation by the IRS (I'm presuming) is still rather severe In his scenario, they would pay like $4-5,000 a year in taxes! Thats a big check to come up with
Comment from : @pauledwards5607

85 Tax seems reasonable
Comment from : @JOE181-i2x

Ok, I'm totally confused now
Comment from : @wakeup6910

Is a retiree taxed at the federal level on the amount above the tax threshold or on the total income amount when it goes over the threshold?
Comment from : @gbass7328

Is it taxed Threshold is so low and it's taxed at ordinary income rate they get most of it back from a lot of married recipients
Comment from : @palerider7924

What does SINGLE WITH COMBINED INCOME mean?
Comment from : @ace-c7j

Clear as mud
Comment from : @chrispritchard5393

Why even have 3 options, why not just make option 3 the ONLY option? Everyone's going to (I would hope) to choose that anyways!brbrAnd the income thresholds haven't changed since 1983?😲😲SMDH!!!
Comment from : @Unplugged704

Im confused
Comment from : @jamgarza1

I use TurboTax and have to pay tax on 85 percent of my social security money ever year Would you think I can trust TurboTax on this?
Comment from : @TD-ce5ru

The link you provided downloads a photo of this webpage -- not a worksheet
Comment from : @user-rv3yj4sn2n

How people on SS get F ked 25 cola increase wow wow what an insult my opinion
Comment from : @mikehocking4836

Increasing tax rates are the reason I rolled over my 401k to a Roth I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account
Comment from : @AnnieHolsen

you did not mention Full Retirement Age how does that play into the calculations if you wait until you reach FRA (in my case 66 years and 10 months) before taking SS? thx
Comment from : @mikemcf33

Does SS taxes go back into SS trust?
Comment from : @carolynberry5465

it cant be taxed if it's paid for exclusively by tax in the first place tax the people who sell things to people whose only income is social security instead
Comment from : @kamerondonaldson5976

File not found: 404 error: Page not found
Comment from : @elbonian1166

How is SS taxed on a dependant? I will be collecting at 62 when my child is 11 So for 8 years my child will collect 50 of my FRA (she'll be in HS when she's 19) Question Does my child basically submit a tax return at the age of 11 every April?
Comment from : @TheK9Shepherd

Imgine paying tax on everything and still get to pay when you file
Comment from : @Hello_its_me_mario

Hi, thank you for the presentation - the link to the worksheet no longer works - I was interested in checking it out - thank you
Comment from : @Valeriafrances13

Its worse here, our economy is like a flailing fish, fighting for its life The normal state of the US economy is actually very bad Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining
Comment from : @Anitasolomon-u4p

Taxing Social Security? This is insane Worked my whole life to get it taken away from me yet again even in my older age This is pathetic
Comment from : @moonshinefuel

Exactly what I was looking for Thanks!
Comment from : @dougniwa8886

Good video ! If I would have been able to keep all the money I paid in SS tax in my job over the last 40 years I wouldn't need SS A failed system
Comment from : @dionysus2006

I can't find that tax form for computing the ss tax
Comment from : @elliottpeabody1287

Any government entity that has a 100,000 page website needs to be simplified, streamlined and downsized How much of our income taxes go JUST to keeping this going?
Comment from : @jalatlaco9827

Does turbo automatically calculate which of the 3 options is best
Comment from : @Bondbeer

On his 3 test slide, I think AGI is a typo It should be other income except for SS or something AGI is an amount that contains taxable SS already, so it doesn’t make sense 😊
Comment from : @jacobkowski7705

I'm 58 years old, unclaim, 0 What is gonna happen with my social security
Comment from : @PR_GTR

The mere thought of paying a tax on a tax is infuriating Our country is overdue for a revolution, these elected “leaders” we bow to have entirely too much power At a minimum once you reach 65 you should automatically be exempt from any taxation, you’ve paid your share, now go enjoy the fruits of your labor
Comment from : @davidwinn9465

The link currently shows this: 404 error: Page not found
Comment from : @briangee2869

I just use the worksheet (page 32 of 114 in the 2023 1040 instruction book) From what I see, there is only one unique answer for a given situation, ie, no picking btwn Case 1, Case 2, Case 3, etc
Comment from : @dc1741

The link is not working
Comment from : @dwftgg3478

Thanks for trying to explain this very confusing taxation I hope my tax software encompasses it into the tax calculation
Comment from : @davidwild3888

am not able to download the social security tax doc
Comment from : @deborariddle5779

I'm 65 full ssi at 66 an 10 months I make 75k a year So, if I get 30k from my ssi An the government is going to tax me about $12,000 At full ssi I can make as much money as I want but, they are going to take almost half of it back So what's the point They got you coming an going
Comment from : @BenHarding-s2w

Hus and will be full age retirement and wants to collect social security and still work full-time, and they take 85 percent from social security, Does that mean they take 85 percent of your social security??
Comment from : @menurager2199

I already paid taxes on this money, thanks Ronald Reagan d r IbrP
Comment from : @jesserodriguez2769

what about married filing single ? which bracket???
Comment from : @DAS2165

So only half of your SS payments are counted towards your total taxable income ?
Comment from : @HiPoint-ql3rs

I'm confused, do u use Combined income or AGI
Comment from : @markdismang8550

Hi Geoff, the link to the worksheet appears to be broken
Comment from : @Morpheus197

I am going to watch this several times until I can figure out that 3 option thing this is nuts!! I have prepared and filed my own taxes since I was 16 Even with property, deductions, etc nothing seems as convoluted as this!!
Comment from : @anniesshenanigans3815

I've tried a couple of different browsers, but have been unable to download the worksheet??
Comment from : @yourpalfranc

Can you share the "simple" worksheet you said was downloadable?
Comment from : @Eric-JohnDavis

Double taxation
Comment from : @scottyallen9196

Link to worksheet doesn't work Tried going to your home page to download from there but got same result link is broken
Comment from : @1FXC

Simple straightforward example, thank you This is the first time I’ve ever heard of choosing lowest of 3 calculations like in your example Most content just states the income thresholds
Comment from : @voyagerman22

I don't see a test 2 as an option IRS does have a worksheet for the calculation which is basically test one or three but your examples are more straight forward
Comment from : @schadlarry

Is the tax owed calculated on the amount over the threshold, or the entire amount? Thank you
Comment from : @RLMUnbelievaaable

your link to the work sheet does not work
Comment from : @loureis4539

Still way to confusing to understand!!
Comment from : @ronsmith7594

The link is dead
Comment from : @arizwebfoot

If anyone's interested, I followed Geoff's calculations in Excel for my 2023 amounts as well as my estimated 2024 amounts The excel results matched the Social Security Worksheet from H&R Block 2023 software The 2023 values resulted in Test #1 while the 2024 values resulted in Test #3 THANKS GEOFF!!
Comment from : @chanks9315

Social security should not be taxed at all The government's getting double paid that bull crap
Comment from : @grantlichtle95

As a matter of fairness I have no problem paying FITs on my social security benefit since my employers contributed approximately half of my total contribution The employers was a deductible expense for them and that income to me has never been taxed Anyone who says they should not be taxed on social security income because they have already paid taxes on it is incorrect They have only paid taxes on one half of their total benefit However I do think the income thresholds should have been indexed at origination of the law as it was inevitable that wage inflation would push most incomes above the thresholds If they had been indexed the threshold for a single person would be almost $79K while a married couples would be almost $99K
Comment from : @Bruno-ho5jl

What do you mean combined in for a single Is it the SSI and if I work part time?
Comment from : @captainsmate5770

The rules were passed to tax the top ten percent of taxpayers receiving social security By not indexing these thresholds about 90 are now taxed on some portion of their social security income Simple solution raise the thresholds by indexing amounts for inflation
Comment from : @charlesbusch8739

I think it should be tax cause ppl who getting ssa getting way more than the working ppl
Comment from : @dracojensei1141

Hello I’m single my social security just went up to $26,676 no other income how do I have to pay tax?
Comment from : @Batino77

Why is it so complicated?
Comment from : @harryrocco7591

Ok you lost me at the 2nd threshold I don't get it Have no clue watt I yam calculating
Comment from : @williamwells1862

Am more confused after watching the whole thing
Comment from : @williamwells1862

Thx, I am cornfused Dats Y I have an accountant who worked for the IRS
Comment from : @williamwells1862

Notice how threshold wasn't raised at all
Comment from : @jmm1817

Do you have a video that explains the taxable amount one arrives at by combining "Adjusted Gross Income" plus "Taxable Amount of Social Security Benefits"
Comment from : @ramesherrabolu1590

Thanks for video When I retired I received a pension from work At 65 I started taking my SS payment If half of my SS payment plus my pension (which is already having federal taxes taken out) equal $31,000 / yr, can you help explain to me how much I will be taxed? Any help would be appreciated as this is way over my head Thanks
Comment from : @alycewhite2501

Hi there, I am in full retirment will collect my social securty soon ,BTY I am working in 2 iobs and have no any spouse How will it be my tax on ss pymt?
Comment from : @songsamsam1425

When do you actually pay for social security taxes?
Comment from : @PasspointComics

Not only should social security not be taxed, the government should be paying us interest for all the years they have been taking social security from us
Comment from : @outwestexplorer1966