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Didn’t we already pay taxes on the on our income when we earned it? Why are we getting taxed on SS after we retire?

Great video. Something that was not mentioned is that the tax rate on realized investments is on the GAINS not on the capital invested

Why don’t you use an example for single people? Every video is for married. It’s not 1956. How many couples even make it this far?

What about those of us working and getting SS? The example you used is below poverty level of course they won’t pay taxes.

Are they kidding with these torpedo zone amounts! They make it complicated so we won’t know how much the government is screwing us! I’ve already paid taxes on my SS!

Great explanation! Thanks

I got hit bad with 2023 capital gains tax rates. I’m on Social Security. Had held a house for over 20 years as a rental. Could no longer care for it. Sold it. Great. I paid the taxes. Then Social Security in 2025 cut my payment $300 a month because of 2023 taxes. That really hurts as that is my only income now.

No. But your capital gains can get pushed into a higher bracket.

Trump is too damn ignorant to do anything that’s legal other than Steele top-secret documents. And a felon with 34 counts predator allegedly

Can you show how a short-term capital gains works?

Thanks a lot. You did an excellent job explaining how to enter QCD. Thanks, Thanks.

I thought the limit is 32,000 for household...so if you live alone it is 32,000 limit

This video was tremendously helpful - thank you!

I want to know what my deceased spouse's total benefit was. I only get 1/3 of his SS bc I worked at a county hospital and get a small pension.

Very comprehensive, thanks! I appreciate you included the “single” numbers in the grids, too.

I see these examples a lot - but something no one ever clarifies: to get the $120k in capital gains, some of what they pulled out was likely also cost basis, correct? So someone may pull out $200k from their taxable account, of which $120k is capital gain, and $80k is cost basis. Since that cost basis was already taxed, this does not get reported on your tax return, only the capital gain. So they didn't just get $10k per month, but $16.6k per month. Is this correct or am I missing something?

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When annuities and RMD considered, the Long Term Capital Gains tax benefit quickly diminishes. If people don't have stocks, how to create long term capital gains if only IRA/Roth IRA accounts are available?

Check this out to better understand how capital gains impact the taxation of Social Security: ruclips.net/video/X2K9E4tKrfQ/видео.htmlsi=GNAWq6dQRuopPKIO

should be no taxes it has already been taxed. fed taking money to send to other countries..

No better way to control people is to tax every income we make,retired or not,,our income tax is theft

I am surrendering a universal life insurance policy. They have told me what my taxable portion is. My question is do I make a withholding as I receive it, pay quarterly installments, or can I just pay at the time of my yearly tax return? what forms need to be filed?

I told my spouse to do this. Thank you for confirming this strategy. The fun part is to figure out how/when to do the RMD so it is there to supplement the lost income - maybe us a separate high yield savings and have the money transferred on a schedule.

Ted, you have a real gift for teaching. That was the clearest, most concise explanation I've ever seen on this topic.

Great video. I'm in the midst of trying to spend the money I saved for retirement (definitely a first world problem) and I now understand NITT, unfortunately...

Based on these 2 choices for a tax strategy, which would you lean towards as your first choice. A significant LTCG at zero tax rate or a Roth conversion staying within the 12% bracket?

What if you have a pension and a 403B that you withdraw from but you already pay the taxes on those withdrawals before you get the payment? Does that still put you in the situation of paying taxes on your Social Security? Or do you just count the net payment as income?

Since Warren & Susie are 65 shouldn't you 1040-SR (for seniors), which would increase their standard deduction? Doesn't change your message but I recently learned of the SR form and thought it worth sharing. Thanks

Pa does not tax social security.

Thank you very much for your useful video. Can you please tell me the working for $100000 as capital gains and $50000 as other income. Once again thank you very much

Are these gross income amounts or net income amounts? Big difference!

Great for a simple income structure. If you have short/long term capital gains, futures income, gains/losses on option trades, and qualified and non-qualified dividends the calculation becomes a little more cumbersome. Do you happen to know of spreadsheet that has these inputs? My existing spreadsheet works but was created on the fly and only I would know where to gather the different income sources from Quicken or brokerage statements.

Does the Social Security that is used for the calculated include the payment taken from yourSS that is for Medicare part A & B

Why would you not use the taxable calculation of AGI + 50% SS = Combined Income and then you calculate the tax as %50 of the difference of CI - $25k + 35% of the difference of CI - $32k, i f you calculate his taxable amount this way it would be CI = $78k ($63k + 50% of 30K) so doing the final calculation 78-25 = 53 x .5 = 26.5 and 78-32 = 46 x .35 = 16.1 so his total income on line 11 is $42,600 not $88,500 and his taxable income on line 15 is only $28,000!

Social Security IS a tax so this Is a case of double taxation, both when you earn it and when you get it. Thought this was settled with the Boston Tea Party in 1773.

if you have money market fund interest that is already included in your income subject to marginal tax but your magi is above 250K is that also subject to NIIT even if it is not being taxed at ltcgs rates?

Very well presented!

Thank you, Mr Erhart. I was amazed that as soon as a question would pop up in my head you would answer the question like right away. Your timing was impeccable. The part about deductions wiping out tax obligations on SS was most informative to me. Thank you for this tutorial.

Please remember that your social security benefit is the GROSS amount. It is not what you receive each month. Those on Medicare will have premiums deducted.

Moral of the story is retire early and start spending down the taxable accounts…

Great info. Adding the table like your capital gains tax video would have been helpful.

Conclusion: This is how it works. It is what it is, nothing you can do about it.

Nice presentation 👍👍

Could you please provide total tax for Non qualified dividend alongwith $100000 wage

Thankyou so much. Today you given me so much relax. I have around $40000 Non qualified dividend and I was thinking I am going to pay around $20000 tax. But looks like it will be less.

Very informative video. Thanks for sharing. I do have one question that I hope you can answer. I started receiving SSA retirement benefits last year and plan to begin day trading this year. Can short term capital gains affect the amount of my monthly SS retirement benefits?

Ted that was fantastic. Thank you so much!!