?? Work at Pickup Points � Flexible schedule

How Much Income Can You Have in Retirement and Not Pay Taxes?

Wise Money Show 36 views

Download Video

Comments

Is there a solution?
Comment from : @MWTH73

Fun part is SS tax threshold is not adjusted to inflation I read it was set 40 plus years ago $32000 for joint filers What a joke in today’s cost of living?
Comment from : @Jupiterplus

Good Lord You’d have to be living in Ted Kaczynski’s cabin to remain under a $32K standard deduction cap My FRA Social Security benefit alone (which I haven’t taken yet) is north of $3,600 Your target audience must be living in a van, down by the river
Comment from : @scottjackson163

Nice presentation and I agree with a previous commenter regarding the direct information sans the ads But this is still like toilet paper math to me
Comment from : @rickbeyer3424

I don't think I have seen a better explanation of how SS works when you have outside income And to hear it from people so young was really refreshing
Comment from : @terrybumpass4799

Finally someone that got to the point, answered my questions, and I didn't have to sit through a lot of sponsors and junk very professional, loved the channel ❤
Comment from : @telasims233

As long as you are under the threshold of the standard deduction I don't pay taxes, have no withholding, and really do not have to file, but I do file since I live abroad
Comment from : @thesilentgeneration

Whatif you get inheritance and do they take your ssi away or my ss away because i sold the house for 22k and do i lose my Medicaid tooi need help and do you pay tax on inheritance
Comment from : @terrydinwiddie6924

Cash only It works
Comment from : @miketheyunggod2534

You're confusing Sorry to say
Comment from : @maureenwilson6031

You need to get to the point you repeated yourself over and over
Comment from : @TryorDie2024

THEY NEED TO RAISE THAT BASE LINE OR STOP THE SHAM
Comment from : @debbiemcmillin7480

What if you are a single person 55 years old, with now work income and living on savings and investments? Investments sold once per year as Long Term Capital Gain of around $100,000 What would be the tax rate of that $100,000 LTCG? 0 because there is no income? This is my current situation that I am trying to figure out Thanks, love your videos!
Comment from : @mikelind2762

Do you have to pay FICA for any income (part time work), while still below having to pay taxes
Comment from : @uriyahhawkins8262

I’m screwed, I’ll be paying considerable taxes
Comment from : @madameclark3453

This nothing more than a promotional commercial Absolutely a worthless waste of time Learned NOTHING!!
Comment from : @JSmith1

THE lesson! Do not try to earn any money
Comment from : @frlouiegoad4087

Arizona does NOT tax my AZ state retirement or my SSI! It is just enough to make it month to month
Comment from : @frlouiegoad4087

why they dont want you to be buffet
Comment from : @paulsypersma7165

can you get tax refund if you are retire and doing small withdrawal but don't meet tax threshold???
Comment from : @anyway_anyway

Thank you for the insightful information My mother's only source of income is her retirement which is quite high and above the threshold Doe she have to pay for taxes on her retirement income?
Comment from : @nyameyen4060

If I'm at full retirement age and still work, do i have to include my social security on my tax forms?
Comment from : @katanatac

Isn't the standard deduction going to be less in 2025? Right now I'm 59 and my standard deduction is $13850 in the 2023 tax year
Comment from : @1ael346

Wrong, the Canadian tax code is as complex or more so than the American
Comment from : @mariadavis3797

You should use a whiteboard
Comment from : @phillyboylaboy

I think our beloved Congress will simplify the taxes and just make ALL SocSec will be taxed as Income! Not to Help us, they will claim they NEED to do it to Save it? It shud Not be taxed at All but i fear they will just make it All Taxed? And it they dont make some changes will Slash Our Benefits but Keep raising Their pay every year!
Comment from : @josephjuno9555

Very useful information However, some graphs / charts would have made it much more understandable
Comment from : @taloweryus

The ‘system’ was designed by governmental types — they complicate everything they touch as they ‘help’ us Let’s make it impossible for a person to comprehend and function in life as an individual Thanks for the information The slaves must be kept down, ignorant and compliant, if not content
Comment from : @johndoudna7055

What would be the best way to create an income stock portfolio in a taxable account to cover my bills and pay the least amount of taxes possible? I put money in my ROTH as well but I don’t want to wait until I’m 59 1/2 in order to use dividends to pay for my lifestyle
Comment from : @crizdancemedia

what if it is your only income?
Comment from : @tonewill9407

A couple of commentsbrbr1 Calculating the amount of your social security that is counted as taxable income is easily done using the worksheet in the 1040 instructions You do NOT need to have software or hire someone to do the calculation if you can do simple arithmeticbrbr2 The source of your income is also a big factor in determining if you have any tax liability Depending on your total taxable income, a large part or all of your qualified dividends and long term capitol gains may be taxed at 0 Have a look at the Qualified Dividend and Capitol Gains worksheet in the instructions for form 1040 to see the details
Comment from : @todddunn945

Some examples would have been great for people that don't really get this subject Especially for those years your retired but not collecting Social Security
Comment from : @johngill2853

You didn't pay taxes on your employers contributions to social security, not really a sham
Comment from : @johngill2853