Social Security tax explained

Social Security tax explained : Sheet1

	C	D	E
1	How to figure the federal tax on Social Security Benefits
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3	First figure your "combined income."
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5	Combined income =	Adjusted Gross Income +
6		Tax-free interest income +
7		50% of Social Security benefits*
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9	Then, look where your "combined income" falls in this table to figure how much of your benefits will be taxed.
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11	If you file as Single, Head of Household or Qualifying Widow(er)
12	And your comined income is between ...		The amount of benefits subject to tax is
13	$0 and $24,999		0%
14	$25,000 and $34,000		50%
15	$34,001 and up		85%
16	If you file Married Filing Jointly
17	And your comined income is between		The amount of benefits subject to tax is
18	$0 and $31,999		0%
19	$32,000 and $44,000		50%
20	$44,001 and up		85%
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22	* - Form SSA-1099 tells you how much Social Security benefits you received in the previous year.
23	Sources: http://www.ssa.gov/planners/taxes.htm; http://www.irs.gov/uac/Are-Your-Social-Security-Benefits-Taxable%3F
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