Are Social Security benefits taxable? While many Americans don't have to pay tax on their Social Security benefits, they can be included in your taxable income in certain circumstances. In this video, Certified Financial Planner® Matt Frankel discusses how taxes on Social Security benefits work and whether they could possibly be going away in the not-too-distant future.
Some of your Social Security benefits can be subject to federal tax, but there's more to the story.
About the Author
Matt Frankel, CFP, is a contributing Motley Fool stock market analyst and personal finance expert covering financial stocks, REITs, SPACs, and personal finance. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, The National Desk, and other TV networks and publications for his financial, stock market, and investing expertise.