Social Security for Texans — entitlements include:
- Retirement benefits
- Benefits for disabled workers and their dependents
- Benefits to the families of deceased workers
You may also be entitled to:
- Supplemental Security Income program (SSI) – a needs-based program for people ages 65+ and people with disabilities, regardless of age.
- Assistance if you are a Medicare beneficiary with limited income to apply for extra help with the cost of prescription drugs (Medicare Prescription Drug Program.)
Social Security: It’s tax-free in Texas
All Social Security income is tax-free in Texas on your state income tax return.
While the IRS may tax you on up to 85% of your Social Security benefits, if you are a resident, you will pay no state tax on it regardless of income or the size of your Social Security benefit.
What you need to know as a Texas retiree:
- No tax on Social Security
- No tax on withdrawals from retirement accounts
- No tax on public and private pension incomes.
- Wages are taxed at normal rates
- Texas has some of the highest sales taxes and property taxes in the U.S.
Find a Social Security Advisor that has the RSSA credential.
If you’re planning for retirement in Texas, advisors that are Registered Social Security Analysts can help you gain far more Social Security income by making the optimal claiming decisions. Our clients have realized from $20K to $200K in potential additional benefits. Contact us today for a complimentary 10-minute consultation with one of our RSSA advisors.