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Mitigating Income Tax on Social Security Benefits - Seattle Times
It’s a particularly vexing problem, and one which catches many Social Security beneficiaries unaware - Social Security benefits are taxable if your income from all sources is high enough. What that means is if you have a lot of income from sources other than Social Security, some of your SS benefits will become part of your overall income taxable by the IRS, and that may be something which influences your decision on when to claim SS benefits. In this informative article by Liz Weston appearing in The Seattle times, the author describes how taxation of Social Security benefits works, and also offers some tips on how to soften the blow through smart timing and savvy management of your investments. Click here to read more.
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