“The 37 States That Don’t Tax Social Security Benefits,” Fox Business

Quote:  “When you think of double taxation, you might think of dividends. After all, they’re paid to you out of the funds that remain after a company has been taxed on its earnings — and then they typically become taxable income for you. You might also be subject to another kind of double taxation, though — taxation of your Social Security benefits. Social Security benefits paid to you are not necessarily taxable, but they can be subject to federal tax if they exceed a certain level. On top of that, a bunch of states tax that income, too. Here’s a look at federal taxation of benefits, along with the states that do and don’t tax Social Security.”

LTC Comment (from Damon V. Moses, Administrative Coordinator, Center for Long-Term Care Reform):  Good to know in this tax season.

The 37 States That Don’t Tax Social Security Benefits

#socialsecurity

#tax
#goldencareagent