Will More People Be Taxed on Social Security Next Year?
Social Security benefits are not subject to federal income taxes for some retirees, but they are for others. Those who have higher incomes will be taxed on part of their benefits.
Unfortunately, because of the way that the rules for Social Security taxation were set up, a growing number of retirees are taxed on their benefits every year. Here's why more seniors will have to give up a part of their benefits to Uncle Sam in 2024.
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Source Fool.com