Taxable Social Security Benefits
Social Security benefits you received last year could be taxable. If you receive Social Security benefits, you should have also received a Form SSA-1099 letting you know the sum of your benefits. This can help you find out if you can claim these benefits on your taxes.
Getting help from a professional accountant will allow you to better determine how to file your taxes. There are a few things to know to consider if your social security benefits are taxable.
- Your marital status and combined total income will be a factor in the amount of your taxable Social Security benefits.
- The benefits you can file can be determined on tax software.
- Social Security benefits are not taxable if this was the only source of income you had in 2011. However, if this is the case, you may not need to file an income tax return.
Contact your McAllen accountants at Gonzalez & Arrambide, Inc. Our experienced CPAs will help you prepare for tax season. Call our office at 956-351-6537.