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No Tax on Social Security - How does that work?

The new “No Tax on Social Security” law really is just an extra 6K deduction for taxpayers aged 65 or older.  Any taxpayer aged 65 or older gets an extra 6K deduction on top of their standard deduction or itemized deduction as long as their total income is below a certain amount.  If the tax return is joint, and both spouses qualify, then each spouse would get this extra 6K deduction.

retired couple

 
 
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Mon - Fri.  9 a.m. - 5 p.m. 

Saturday | 9 a.m. - 3 p.m. 

Sunday | Closed

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Schaaf CPA Group is located in downtown Westfield, Indiana

110 N Union St

Westfield, IN 46074

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