How Your Retirement Savings and Income Are Taxed | Kiplinger

LTC Eugene Chu
..."Partially Taxable Income in Retirement
Social Security
Social Security income may be taxable anywhere from zero (0%) to 85%. That means that a minimum of 15% will always be tax-free. If Social Security is your only source of income, you’ll generally avoid paying taxes on the benefits you receive. The calculation involves adding your non-Social Security income (known as your provisional income) to half of your annual Social Security benefit. If the amount is less than $32,000 for married tax filers or less than $25,000 for single filers in 2022, you will avoid federal taxes on your benefits."

The beautiful part of VA entitlements is they are tax free. Let's assume that my pension is $3000 a month and my VA entitlement is $3000 a month. The total income for the year is $72,000, but your taxable income is $36,000 a year. It reduces your taxes and helps you to be in a lower tax bracket. You should get a nice tax return.

I break out In a rash by the mere mention of taxes!!!