00:00Many people assume social security benefits are never taxed, but that is not always the
00:04case. Depending on the state you live in and your personal situation, a portion of your
00:09benefits could be subject to taxes, making this an important topic to understand. One,
00:14some states tax these benefits, while others do not. Two, filing a loan or jointly, as
00:20well as your age, can affect how much you pay. These factors can change the final amount
00:25you owe, even if two people receive similar benefits. Three, some states are even phasing
00:30out taxes on social security. Four, additional income can increase the taxes you owe. Knowing
00:35how your state handles social security and how other income plays a role can help you avoid
00:40unexpected bills down the road.
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