Do I Have to File Taxes While Receiving Disability Benefits?
As the saying goes, there are two things you can’t escape in life: Death and Taxes.
And as April 15th draws closer, if you’re receiving Social Security Disability, you may be wondering if you have to pay taxes on your benefits.
Tampa Social Security Disability Lawyer, Mike Murburg says:
“Social Security Disability payments aren’t always taxable. If you file as an individual and you don’t earn more than $25,000 a year, or you file jointly and your household income is less than $32,000 per year, you will not have to pay taxes on your Social Security Disability benefits.
He continues to say that if your income exceeds those limits, a portion of your disability payments may indeed be taxable.
But the good news is that you will never have to pay tax on all of your disability benefits. In fact, no matter how much you make, you will never have to pay taxes on more than 85 percent of your Social Security Disability income.
The exact dollar amount you are responsible for will depend on how much income you have received during the year and what tax deductions you may be entitled to.
The Office of Mike Murburg, P.A., has provided comprehensive representation to disability claimants in disputes arising from the denial of legitimate claims. They have extensive experience, and a long track record of success, in helping claimants file winning applications and appeal unfavorable SSA decisions.