Accountant Tip of the Month
This new series will feature one of our accountants with some helpful insider tips!
Are My Social Security Benefits Taxable?
by Carol Bailiff, CPA
A few clients have asked this question, "Are my social security benefits going to be
taxable?" My answer - it depends! How much other income do you have? Consider not only all taxable income, but non-taxable as well. So my answer "it depends" is based on the total of the amount of your adjusted gross income plus nontaxable interest plus one half of your social security benefits.
Carol is a Senior Tax Manager
and has been with our firm since 2002. Besides her
awesome accounting skills, she is also distinguished for offering pet therapy at local