Florida Tax Guide: What Retirees Will Have to Pay (and What They Won’t)

social security stealth return
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Does Florida tax Social Security benefits?

The answer is no, but you may have to pay federal taxes on a fraction of your Social Security benefits, depending on your income level. As much as 50% of your retirement benefits will be taxed if you file an individual tax return and your income falls between $25,000 and $34,000. The same tax rule applies if you file jointly and have a combined income of between $32,000 and $44,000.

However, if you earn more than $34,000 individually or $44,000 as a couple, you have to pay taxes on up to 85% of your retirement benefits.

Keep reading to see what other taxes you may have to pay if you live in Florida!

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