• May 27, 2015
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Tax lawyer Nick Nemeth offers some great tips that can help you with your taxes if you receive social security benefits. If you are a recipient of social security benefits, a portion of these benefits may be taxable. According to attorney Nick Nemeth many people have questions about their Social Security benefits. This area of tax requirements can be confusing. The following tips from the IRS can help you evaluate whether you owe taxes on the benefits that you received during the year. These tips can also help you identify the best method to file the tax return.

  • Any social security benefits received in 2014 should generate form SSA-1099. in the mail. This form is a Social Security Benefit statement that will be mailed. It will show the exact amount of benefits received during the year.
  • If the only income that you have for the year is Social Security benefits, they may not be considered taxable. It may not be necessary to file a federal tax return for the year, if this is the case. Income from sources other than Social Security benefits may cause some of the to be taxable.
  • The IRS offers a free interactive tool that can help you determine whether the benefits you receive from the SSA are taxable To utilize the Interactive Tax Assistant, visit the IRS.gov website. The tool is available within the site.
  • Take advantage of IRS Free File in order to prepare your tax return. It’s best to electronically submit it to the IRS at no cost. Taxpayers who earned less than $60,000 in the year can use brand name software from recognized companies who have partnered with the IRS to deliver this service. The software performs calculations for you and typically walks you through the process step by step to avoid any mistakes. Taxpayers who earn more than $60,000 can file electronically for free by using the Free File Fillable Forms available. Electronic versions replace paper forms offered by the IRS. This option is available at IRS.gov/freefile and is typically best for those who have experience doing their own tax returns.
  • One simple way to determine if taxes are owed on Social Security benefits received. Is to Calculate 50% of the benefits received during the year. Add this amount to all the other income. Make sure to include any tax-exempt interest received in the total. Compare this amount to the base amount the IRS gives for your filing status. If the total of all other income plus 50% of your annual SSA benefit is more than the base amount allowed for your filing status, you could owe tax on some of the Social Security benefits.
  • In order to determine whether any of your Social Security benefits are taxable you will need to know the base amounts for the different filing statuses.
  • If you file married filing separately and you resided with your spouse at any point during the year in question, your base amount is $0.
  • If your filing status is married filing jointly, your base amount is $32,000.
  • If you file as single, married filing separately and did not live with your spouse at all during the year, qualifying widow or widower with a dependent child, or head of household your base amount is $25,000.
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What Our Clients Have to Say

Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
Sarah HowardSarah Howard
03:44 14 Nov 22
I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
00:33 07 Aug 22
I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
19:44 12 Jul 22
During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
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