Join AARP
Join for Just $16 A Year
- Discounts on travel and everyday savings
- Subscription to AARP The Magazine
- Free membership for your spouse or partner
Message Boards Directory
Welcome to the AARP Discussion Board. Here you can talk with peers about current events ranging from Social Security to caring for your parents to the latest on health care reform. It is also the perfect place to exchange healthy eating recipes and job hunting tips.
These forums are for you to engage and have fun meeting new people. Just remember the community code: Be nice!
Pension check and Fiscal Cliff tax increase?....
False
Taxes
Pension check and Fiscal Cliff tax increase?....
<font size="1">Can you take a tax deduction on that recent purchase? Talk to others to get free tax advice and get tips on how to complete your IRS federal tax forms.</font>
My only income is my late spouse's pension check. Does anyone know if the taxes are going to increase on pension checks? The pension check barely pays the house note and utilities as it is and w
0
Cat:827966ee-6d39-4ef7-98a5-0157a43092f8Forum:a882faf9-edb3-472d-896c-a5e64a486dfc
Cat:827966ee-6d39-4ef7-98a5-0157a43092f8Forum:a882faf9-edb3-472d-896c-a5e64a486dfcDiscussion:f4b42d29-9d55-4f56-b70f-a1d000bfa560
|
Pension check and Fiscal Cliff tax increase?....
posted at December 29, 2012 12:09 PM EST
|
Posts: 2
First: December 29, 2012 Last: December 29, 2012 |
My only income is my late spouse's pension check. Does anyone know if the taxes are going to increase on pension checks? The pension check barely pays the house note and utilities as it is and when I looked at what is considered "low income or poverty level" I was shocked. Does the income count before taxes and insurance are taken out of the pension check? Sorry if I sound dumb but I am new at this. |
|
Re: Pension check and Fiscal Cliff tax increase?....
posted at December 30, 2012 10:57 AM EST
|
Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Pension check and Fiscal Cliff tax increase?....: My only income is my late spouse's pension check. Does anyone know if the taxes are going to increase on pension checks? The pension check barely pays the house note and utilities as it is and when I looked at what is considered "low income or poverty level" I was shocked. Does the income count before taxes and insurance are taken out of the pension check? Sorry if I sound dumb but I am new at this. Posted by Ykraps I think you need to start some learning and budgeting regardless of what our Legislators do with this mess. Fiscal Cliff (Before and After) Tax Estimator Calculator Have you ever done a tax return? If your pension check is taxable income then it is taxed - it doesn't matter what you have to pay with it. Uncle Sam gets his - regardless of your expenses because YOU control your expenses - When things chnage in our lives that affect our income, changes have to be made in order to live within one's means. |
