Sorry, retirees: These 12 “States” still tax Social Security.

Sorry, retirees: These 12 “States” still tax Social Security. Is yours one of them? Before we share this valuable information please like, share and subscribe Social Security recipients received the largest cost-of-living adjustment in four decades in 2023 but this increase can also increase their taxes.  Retirees may know that the federal government will tax their Social Security, which can include monthly retirement, survivor and disability benefits, if their total income exceeds certain amounts. It’s best to check with your state’s rules, but here are general guidelines on what you can expect:. Which states tax Social Security benefits?Colorado ,Connecticut, Kansas, Missouri,, Montana, Nebraska, Missouri, Nebraska, New Mexico, Rhode Island, Utah, Vermont,, West Virginia If you’re below certain thresholds, up to some of your retirement income may be exempt. Opening day:When can you file taxes this year? How do states tax Social Security? While each state has different rules on what or how they will tax your Social Security money, age and income usually determine if you pay. The best way to avoid taxes on Social Security benefits is to limit your income by not taking retirement income and investing with a Roth IRA while working. Go to Medicare Self Enroll.com for more information and to enroll This video was created by Bill Vargas who is an independent Medicare which means he works for you not the insurance companies.