3 Social Security Facts That Could Catch You Off Guard

Maurie Backman, The Motley Fool
·3-min read
3 Social Security Facts That Could Catch You Off Guard

Chances are, Social Security will end up serving as an important income source for you during retirement. If Social Security is your only income source during retirement, then you may not be liable for federal taxes on your benefits. If it lands between $25,000 and $34,000 and you're a single tax filer, or between $32,000 to $44,000 and you're a married couple filing taxes jointly, then up to 50% of your Social Security benefits may be taxed.