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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

Do we have to pay taxes on our Social Security with income over $32,000, including half of our Social Security? -Margie

Answer:

It sounds like you have a handle on things. For those that file jointly and have income, if one half of their Social Security added to their income is between $32,000 and $44,000, then 50 percent of the Social Security must be included as income. If your income, including half your Social Security, exceeds $44,000 then 85 percent of your Social Security will be included as income.