States with Risk of Reduced Social Security Checks for Retirees
Sunday, 10 March 2024, 08:22
Top 10 States at Risk
Retirees in these states may face reduced Social Security benefits due to state taxes.
Implications on Income
- Colorado: Taxpayers under 65 with over $20,000 taxable benefits owe state taxes.
- Kansas: State taxes apply if adjusted gross income exceeds $75,000.
- Minnesota: Tax rate varies from 6.8% to 9.85% based on combined income.
Some retirees may need to plan carefully to avoid hefty tax burdens.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.