Goodbye to some Social Security benefits for Americans living in these states – blame the IRS
La Grada - Dec 19th, 2024
Since 1935, Social Security benefits have been crucial for many Americans, serving as the primary or supplementary income source for seniors. However, the taxation of these benefits varies by state. While most states and Washington, D.C. do not tax Social Security benefits, nine states still do. Some states have recently eliminated these taxes, like Kansas in 2024. It's important for beneficiaries to stay informed about state tax laws, which can change unexpectedly. Although state taxes may be exempt, federal taxes still apply based on total income, requiring beneficiaries to stay updated on both state and federal regulations.
RATING
The article provides a general overview of the taxation of Social Security benefits across different states and at the federal level. It includes some specific examples of how taxation varies but lacks comprehensive details and source attribution. The language is generally clear, but the article could benefit from more precise data and balanced perspectives.
RATING DETAILS
The article generally presents accurate information about the taxation of Social Security benefits, but it lacks specific data and verifiable sources for some claims. It correctly lists states that tax benefits and mentions recent changes, but more precise figures and references would enhance accuracy.
The article focuses primarily on the taxation of Social Security benefits, offering little in terms of diverse perspectives. It could provide more context on why some states tax benefits and others do not, as well as the impact on different income groups.
The language is generally clear and straightforward, with logical explanations of how Social Security taxation works. However, some sections could be better structured to avoid confusion, particularly the example scenarios and tax calculations.
The article cites the Motley Fool as a source, but it lacks specific references or links to the data or reports mentioned. Citing additional authoritative sources would improve the credibility and reliability of the information.
The article does not disclose potential conflicts of interest or affiliations. It provides some information about state and federal tax regulations, but it could be more transparent about the sources of its data and any assumptions made in the examples.