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14217gr
July 26, 2023
Question

Social Security

  • July 26, 2023
  • 1 reply
  • 0 views

I am receiving my full Social security.  But I also have a part-time job and have   self employed income how do I plan for  taxes that will need to be paid. 

    1 reply

    KochuK
    KochuK
    July 26, 2023

    Social security can be taxable income up to 85% depending on your other income streams.

    Since you have different type of income, recommend you use TurboTax Tax Calculator per below link:

    https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ 

     

    Or you can use IRS Tax Withholding Estimator to fill out W4 of your part-time job to withhold the bulk of tax payment.

    https://apps.irs.gov/app/tax-withholding-estimator 

    Hope this helps. Thank you for posting the question.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
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