The annual cost-of-living adjustment Social Security recipients receive is both a blessing and a curse.
On the one hand, additional money, even if small, is welcome. On the other, those extra dollars can boost incomes just enough so beneficiaries may have to pay more taxes.
It's not only the federal government that will tax their Social Security, which can include monthly retirement, survivor and disability benefits, if total income exceeds certain amounts. Ten states also will levy a tax this year.
While each state has different rules on what or how they will tax your Social Security money, age and income usually determine if you pay.
It’s best to check with your state’s rules, but here are general guidelines on what you can expect:
These ten states tax benefits:
