Withholding Taxes From Social Security
[Question]I'm about to sign up for Social Security. Do I need to also sign up to have taxes withheld from my benefits?
[Answer]You aren't required to have, but voluntary withholding can be one way to cover any taxes that may be due on your Social Security benefits and any other income. A portion of your Social Security benefits will be taxable if your income--such as from freelance work, a taxable pension and IRA withdrawals, or nontaxable interest--plus half of your Social Security benefits add up to more than $25,000 if single or $32,000 if married filing jointly (see for more information).
