Have
you filed your 2017 taxes yet? Well, if you are a Social Security Disability recipient,
make sure that you let your accountant know that you are receiving disability benefits.
Each year, the Social Security Administration sends out SSA-1099 and SSA-1042S
forms to recipients showing the total amount of Social Security benefits that
they were paid for the previous year.
Not
everyone has to pay taxes on Social Security benefits. Individual filers must
pay taxes if your combined income on your federal return exceeds $25,000. If you
are married, and file a joint return, you will pay taxes on your benefits if
you and your spouse have a combined income of more than $32,000. Even if you
are married and file a separate return, you will still likely have to pay taxes
on your benefits, so always consult with your accountant about your tax
liability. Thankfully, no one pays taxes on more than 85% of his or her issued
benefits.
Got a question about SSDI or SSI that you need us to answer?
Please check out our website at www.westcoastdisability.com . We
try to provide you with helpful information on our website that will allow you
to successfully navigate the Social Security Disability process. Also, feel
free to email me your questions at megan@westcoastdisability.com or call me at (800) 459-3017 x 103.
