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sinkingfeeling

(58,036 posts) Fri Mar 28, 2025, 03:53 PM Mar 2025

What percentage of your Social Security income is taxed? Mine is 85%.

7 replies

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What percentage of your Social Security income is taxed? Mine is 85%. (Original Post) sinkingfeeling Mar 2025 OP

Zero Faux pas Mar 2025 #1

My income from another pension and dividends. sinkingfeeling Mar 2025 #2

Aha Faux pas Mar 2025 #5

On the up side, you have a lot more PoindexterOglethorpe Mar 2025 #3

I also pay tax on 85% of my SS. When I retired doc03 Mar 2025 #4

48.27% jxla Mar 2025 #6

Apparently there are real advantages to being relatively poor. PoindexterOglethorpe Mar 2025 #7

Faux pas

(16,529 posts)

1. Zero

Reply to sinkingfeeling (Original post)

Fri Mar 28, 2025, 03:58 PM

Mar 2025

Why is yours so high?

sinkingfeeling

(58,036 posts)

2. My income from another pension and dividends.

Reply to Faux pas (Reply #1)

Fri Mar 28, 2025, 04:02 PM

Mar 2025

Faux pas

(16,529 posts)

5. Aha

Reply to sinkingfeeling (Reply #2)

Fri Mar 28, 2025, 08:02 PM

Mar 2025

you shouldn't be penalized for making smart choices. It's disgusting that you pay a bigger percentage than the billionaire boy's club.

PoindexterOglethorpe

(28,493 posts)

3. On the up side, you have a lot more

Reply to sinkingfeeling (Original post)

Fri Mar 28, 2025, 04:04 PM

Mar 2025

income than I do. 9% of mine was taxed last year. Still haven't gotten this year's back from the accountant.

doc03

(39,179 posts)

4. I also pay tax on 85% of my SS. When I retired

Reply to sinkingfeeling (Original post)

Fri Mar 28, 2025, 04:59 PM

Mar 2025

14 years ago it was just a small amount but because the threshold isn't adjusted for inflation it increases every year. I am single and
get a decent defined benefit pension I am penalized for it. That is one thing I can agree with Trump on. I think that may be what won the election for him.

jxla

(267 posts)

6. 48.27%

Reply to sinkingfeeling (Original post)

Fri Mar 28, 2025, 10:49 PM

Mar 2025

SS benefits were 39.18% of my total income for 2024

PoindexterOglethorpe

(28,493 posts)

7. Apparently there are real advantages to being relatively poor.

Reply to sinkingfeeling (Original post)

Sat Mar 29, 2025, 11:29 PM

Mar 2025

Lower taxes, but a whole lot less money.

So all of you who are having much of your SS taxed, be grateful that you have that much income to be taxed. Really. Think about having significantly less income, like maybe a half or a quarter of what you currently have, and that's what I'm living on.

It does help that my financial advisor put me into various investments, not all of which are taxed, or not taxed very much.

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