It's the
time of year when I get messages from self-preparers who say: "I have a quick question. Can you help me?"
Remember, a
quick question is, "Is social security taxable?"
That's what
I consider a quick question, but sadly, most quick questions are never simple
questions.
For most tax
questions, the answer is: "It depends." Everything in tax hinges on the
answer(s) to something else.
Is social
security taxable? It depends.
Is social
security taxable to the state? It depends on if it's taxable, to begin with,
and on your state of residence.
There may be
quick tax questions, but there are no simple ones.
I mulled it
over, trying to think up a simple tax question, and I couldn't think of
one. Even the question "Is interest
taxable?" has no simple answer.
Yes, it is....
but it also depends on other things.
Taxes are a tremendously
convoluted, complicated puzzle. If you
like puzzles, it's fun.
I like
puzzles.
Alliance Financial
& Income Tax
816-220-2001
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