How are Social Security benefits calculated?
One of the most important decisions you’ll make about your retirement is when and how to take your Social Security benefits, but it’s crucial that you understand potential tax implications prior to doing so.
For many retirees that will have additional sources of income in retirement, Social Security benefits can push you into a higher tax bracket. However, with the proper proactive planning, you can create a strategy that will leave more money in your hands, and less in Uncle Sam’s.
Having an idea of just how much your Social Security checks will be worth can help you create a tax-efficient income plan for retirement.
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