social security – The Burns Firm – Advisors of Complex Financial Matters

Social Security Wage Base and Earnings Test Amounts Increase in 2023

November 8th, 2022|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, Social Security, Tax, Tax Advisor, Tax Planning, The Burns Firm|Tags: CPA, social security, Social Security increases for 2023, tax, The Burns Firm|

The Social Security Administration (SSA) recently announced that the "wage base" for computing Social Security tax will increase for 2023 to $160,200. This is up from $147,000 for 2022. Federal [...]

Social Security Recipients Will Receive a Large Increase in 2023

October 13th, 2022|Categories: Accountant, Accounting, are social security benefits taxable, CPA Dallas, Services, Social Security, Tax, Tax Advisor, The Burns Firm|Tags: social security, tax, tax advisor, The Burns Firm|

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 70 million Americans will increase 8.7% in 2023, the federal government just announced. On average, the Social Security Administration [...]

Social Security benefits: Do you have to pay tax on them?

July 5th, 2022|Categories: Accountant, Accounting, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Social Security, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, The Burns Firm|Tags: are social security benefits taxed, CPA Dallasm, cpa near me, Dallas CPA, do I pay tax on my social security benefits, is social security taxes, social security, tax, tax on social security, tax preparer near me, The Burns Firm, will my social security benefits be taxed|

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be [...]

Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes

September 24th, 2020|Categories: Accounting, Burns Firm, Business, Tax Credits, Tax Deductions, Tax Planning|Tags: CPA Dallas, Dallas CPA, deferral basics on social security, deferring employee social security taxes, employer can defer withholding, employer guidance on social security tax, North Texas CPA firm, social security, social security tax, tax, tax accoutnant, tax preparation, tax return preparation, The Burns Firm|

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The three-page guidance [...]

Will You Have to Pay Tax on Your Social Security Benefits?

September 16th, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Planning, Tax Preparation|Tags: are social security benefits taxable, CPA Dallas, Dallas CPA, social security, social security benefiits, tax, tax on benefits, tax on social security benefits, tax preparer, tax return preparer, The Burns Firm, why do I have to pay tax on social security benefits|

If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay? It depends [...]

Social Security Benefits May Be Taxable

July 9th, 2020|Categories: Accounting, Burns Firm, Tax, Tax Planning|Tags: CPA Dallas, social security, social security benefits may be taxable, tax, tax on social security, The Burns Firm|

Information from irs.gov Taxpayers receiving Social Security benefits may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor, and disability [...]