Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: MYNGA who wrote (865)	3/31/1998 8:32:00 PM
From: Colin Cody	Read Replies (1) of 5810

MY guess here is the $9,000 rule you are thinking of is the 33% "tax" on your Social Security payments if you EARN in excess of about $9,000 per annum. The level increases each year, and is currently about $12,000. OR you may be thinking of the Standard Deduction PLUS the personal Exemption which for a single means the first $7,800 is tax free. Regardless, you say you had much more than that with the $20K PLUS SS received... So she will owe taxes on some amounts over $7,800... Colin

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