Traveling Across the USA
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Jun 20, 2017
I see that federal taxes are 15% on $18,651 - $75,900 ... and even with some investment income, we'll be under $75,900.
And I see that NC taxes are 7% on $12,751 and $60,000.
So I'm looking at 22% of my pension going to taxes. That's outrageous.
Do I understand correctly that you do not pay Social Security on pension payments?
I'm currently paying over $600/month for insurance for my family. The state covers MY basic insurance cost, right? My last kid'll be out and on her own. How much can I expect to pay for my husband's insurance in retirement?
jessieva
Almost There, Congratulations on being almost there! I do pay state and federal taxes out of my pension check, but not my Social Security check.
I voluntarily pay 15% of my Social Security check toward federal taxes because I do not want to pay at the end of the year one lump sum. I started collecting SS at age 62.
I am too you...See More
I voluntarily pay 15% of my Social Security check toward federal taxes because I do not want to pay at the end of the year one lump sum. I started collecting SS at age 62.
I am too you...See More
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I voluntarily pay 15% of my Social Security check toward federal taxes because I do not want to pay at the end of the year one lump sum. I started collecting SS at age 62.
I am too you...See More