The old age, survivors and disability insurance tax, or OASDI, also called the Social Security tax, is withheld by employers on behalf of their employees. The tax only applies to earned income, such as wages and salaries, rather than unearned income such as investment income or pensions. The...
A portion of yourSocial Security benefits is taxableregardless of your age unless your income is very low. Only individuals with incomes below $25,000 a year or couples with incomes below $32,000 a year keep their Social Security tax-free. Everyone else pays taxes on up to 85% of their...