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Phone: 973-455-1894 | 51 Dumont Place, Morristown, NJ 07960 | Get directions!

Kiely Capital Management offers financial planning and investment advice. Serving Central and Northern New Jersey, Yvonne and Bernard (Bernie) Kiely provide over 25 years of experience offering discretionary asset management, retirement planning and income tax preparation. KCM is registered with the State of New Jersey as a Registered Investment Advisor.

 

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Are all Social Security benefits taxable?

 

Social Security benefits of all kinds have the same tax rules. (pixabay.com)

 

Q. You've gone over tax rules for Social Security retirement payments. What about Social Security disability payments? Survivor benefits? Any difference in tax requirements?

-- Wondering

 

A. The answer to this one is simple.

 

When we have discussed the taxation of Social Security benefits, we have usually discussed retirement benefits, as you said. But the rules are the same for all payments from Social Security.

 

"Social Security benefits include monthly retirement, survivor and disability benefits," said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown. "So the taxation is the same for survivor and disability payments."

 

Hope that helps!

 

Email your questions to Ask@NJMoneyHelp.com.

Karin Price Mueller writes the Bamboozled column for NJ Advance Media and is the founder of NJMoneyHelp.com. Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Sign up for NJMoneyHelp.com's weekly e-newsletter.

 

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