Hudson, NH Resident Nearing Retirement Has Questions
If your individual income exceeds $25,000 or $32,000 for couples filing jointly, you must pay taxes on your Social Security benefits. Any income lower than this, the benefits are not taxed. Incomes between $25,000 and $34,000 for individuals and $32,000 and $44,000 for joint filers can have up to 50% of their benefits taxed. If your income exceeds that threshold, up to 85% of your Social Security can be taxed.