KEY POINTS In most cases, funeral homes notify the government that a person has passed away.If the person was receiving Social Security benefits, a payment is not due for the month of their death.Survivor benefits may be available, depending on several factors. When a loved one receiving Social Security benefits passes away, you may wonder how the government knows to stop sending that monthly money. Or, maybe there’s a surviving spouse or dependent who relied on that income and wonders whether some sort of payment...
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24 Nov Off
Is Your Social Security Income Taxable?
in Social Security | tagged: Social Security Social Security Benefits Social Security Income Social Security Planning
Is your social security income taxable? Only a tax professional can give a good answer to this question. Being a tax professional, the answer to the above question is ‘maybe’, because the taxation of your social security income is entirely dependent on how much additional income you receive from other sources such as income from part-time work, self-employment income, income from pension and distributions from retirement accounts. Therefore, your social security benefits may be tax free or partially taxed. Social...
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