Social Security is taxed as regular income. Your income tax rate will vary depending on the tax bracket you fall into. However, not everyone pays taxes on Social Security benefits, and those who do pay taxes don’t pay it on 100% of their Social Security benefits. Individuals making up to $34,000 and married couples filing jointly making up to $44,000 per year may pay taxes on up to 50% of their Social Security benefits. If you make more than $34,000 or $44,000, depending on your filing status, you may pay taxes on up to 85% of your Social Security benefits.