Taxes Q&A: Understanding What Is And Is Not Taxable

* Is Social Security retirement income taxable?

Social Security retirement benefits are taxable, although it depends on your total income and civil status. Federal law states that an individual must pay taxes if he/she has annual Social Security retirement income of more than $25,000. If he/she has a married status, they must pay such taxes if the income is more than $32,000.

However, if the Social Security retirement benefit is the recipient