Paying taxes on Social Security

Forum|Forum|1 year ago
June 26, 2024
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Is it best to fill out a W-4 form and have social security withold some monies for taxes OR to make estimated payments quarterly on what you think the taxable amount maybe

Ask the Experts - Retirement II - June 2024

evelynm

Adjusting your withholdings W-4 is the way to go as your social security is continuous. Here is a link to tax caster to assist in generating your W-4: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Keep in mind the tax tables will be updated for 2024 accordingly. It is also a good idea to check your withholdings to date anytime.

Submit a request to pay taxes on your Social Security benefit throughout the year instead of paying a large bill at tax time.

Have an amazing day. Evelyn M (CPA 20+ years)I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer"