money  taxes


Question by  Balu (19)

How much are you taxed on a benefit check?

Is it more than a regular check?


Answer by  AnnaTeague (806)

No, you are not taxed more on a benefit check than you are on a regular check. You will receive an end-of-year tax statement showing how much those benefits are, and some of them will be taxable and some will be only partially taxable. Social Security benefits are only taxed if your income is high enough.


Answer by  Att4372 (1704)

First, some benefits are not taxable. Examples include child care and SSI. If your benefit is taxable (unemployment comp), you don't pay FICA. A regular paycheck is taxed more.


Answer by  John (9008)

It depends upon the type of benefit. Some government benefits, like food stamps, are not taxable at all. Other benefits (like Social Security) are only taxable if your income is over a certain limit. For employment benefits, it varies greatly depending upon the type of benefit (insurance versus retirement, for example) and many other factors.

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