The advantage of being employed for a long time is that you can begin receiving Social Security benefits once you reach retirement age. Although you can start getting Social Security benefits as soon as age 62, the more time you wait, the nearer you will be to the maximum benefits, which are only available to those who are age 66 and over. Although it might not be sufficient to support a retiree on its own, most find this revenue to be a pleasant bonus.
Thus, for many seniors, learning that the federal government occasionally charges Social Security benefits may be a harsh revelation. Some people may find it even more unexpected that some states additionally impose their income taxes on Social Security benefits. Luckily, there aren’t many states that fit this description.
Even states that do charge Social Security frequently offer deductions or other means to lessen or completely avoid the tax, usually based on an individual’s age or income.
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