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Pension and Social Security Question
Old 03-26-2008, 08:46 PM   #1
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Pension and Social Security Question

Question for those drawing pensions and social security...in addition to paying federal and state income taxes on your pension and social security do you also have to pay Medicare taxes or Social Security taxes as well? Any minimum income amount before taxes are taken out for either pension payments or social security distributions?
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Old 03-26-2008, 08:57 PM   #2
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Social Security is only taken from earned income, not from pensions.
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Old 03-26-2008, 09:05 PM   #3
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Quote:
Originally Posted by freddyw View Post
Question for those drawing pensions and social security...in addition to paying federal and state income taxes on your pension and social security do you also have to pay Medicare taxes or Social Security taxes as well? Any minimum income amount before taxes are taken out for either pension payments or social security distributions?
If you have no earned income, meaning work income, you do not pay SS or Medicare. You normally set up your tax withholding on your pension with HR before you retire, you can have them withhold or you can pay estimated payments quarterly.
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Old 03-27-2008, 07:47 AM   #4
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You may also have Taxes withheld from SS Benefits at your request.
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