Social Security is an important income source for retirees, but understanding how it is taxed can be confusing.

Key Takeaways:
➡ Social security is subject to the same federal taxes as other sources of income, but only a portion of it is included in your taxable income based on your provisional income.
➡ If Social Security is your primary or sole source of income, you may be in a lower tax bracket, resulting in a smaller percentage of your benefit being taxable.
➡ Provisional income thresholds are not adjusted for inflation, meaning that over time, more people will have a larger portion of their Social Security benefit subject to taxation.
➡ While federal taxation rules apply nationwide, not all states tax Social Security benefits.

By considering factors such as your provisional income, other sources of income, and statespecific tax laws, you can make informed decisions to optimize your financial situation.


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⏱ Timestamps ⏱
0:00 Intro
1:35 Provisional income
3:18 Example
5:18 Key takeaways
7:21 Example
9:50 Varies by state
11:12 Outro

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