The Daily Money: Does your state tax Social Security benefits?
Happy hump day, Daily Money readers! It's Amanda Pérez Pintado with today's top headlines.
Tax season is in full swing, and if you live in certain states, your Social Security benefits may be taxable.
Retirees have to pay federal taxes on Social Security benefits if their total income exceeds certain amounts. The amount paid depends on income and whether you're filing a joint or individual return. (Read more on federal taxes on your Social Security money here.)
But 11 states also tax Social Security benefits. The rules on what's taxed vary by each state, so make sure to check your state's laws.
Find out if you live in a state that taxes Social Security benefits here.
Walmart to close a handful of stores
Walmart said it will shutter a handful of stores in some states and DC this year due to poor financial performance.
Eight stores are closing in Washington DC, Florida, Illinois, New Mexico, Oregon and Wisconsin, as well as two experimental “Pickup” locations in Illinois and Arkansas.
The company said it made the decision after a review process that determined the impacted stores didn't meet financial expectations.
Find out if your nearby location is on the chopping block here.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.