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percentage to withhold
posted at December 21, 2011 6:03 PM EST
First: December 21, 2011
Last: December 21, 2011
|I have recently started receiving social security benefits. My question is what percent should I have withheld each month for income tax.|
Re: percentage to withhold
posted at December 21, 2011 8:51 PM EST
First: November 27, 2011
Last: May 18, 2013
That is going to depend on what other type of income you have AND the amount of the other income - also whether or not that other income or some part of it is taxable.
Form the Social Security Administration: These (2) linked sites can give you the details, applicable form and the IRS publications on how to figure the amount - You don't have to have it withheld; you can just send in quarterly payments.
If you need help in figuring the amount, contact an IRS approved Enrolled Agent.