Here's Why More People May Be Getting Taxed on Social Security in 2024
Many seniors rely heavily on Social Security to make ends meet. And for some people, those monthly benefits are their only source of predictable income.
If you're in that boat and you have virtually no income outside of Social Security, you may be able to avoid having your benefits taxed at the federal level. But if Social Security is only one of several income sources available to you in retirement (which is a far more optimal situation), you may end up getting taxed on those benefits by the federal government.
In fact, there's a good chance more seniors will pay taxes on their Social Security benefits in 2024 than in years prior. Here's why.
Source Fool.com
