How are Social Security Benefits Calculated?
Social Security planning often focuses on filing strategies to help determine when and how to take your benefits. But before you make any decisions, you should also consider the tax implications your Social Security benefits will have on your overall retirement plan.
If you have additional sources of income in retirement, there is a chance your Social Security benefits could push you into a higher tax bracket. To create a tax plan that can help prevent this from happening, you’ll need to understand how much additional income your Social Security benefits will provide once you start taking them.
To learn how your Social Security benefits are calculated, click here.
For professional assistance with creating a tax-efficient retirement plan, contact our office at 703-466-0477 to schedule a time to visit.
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