Anyone who has received Social Security benefits will receive Form SSA-1099 at the end of each tax year in which the benefits were received. This form show the amount of your benefit. There is one question you need to ask yourself to determine if your Social Security benefits are taxable: Do I have any other source of income? If that answer is yes your Social Security Benefits may be taxable.
Based on the following your social security benefits are taxable:
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.