Taxation of Social Security Benefits…Ways to Escape it
It looks like the taxation of Social Security benefits will continue to be a fact of life, at least for the time being. So, can you do anything to mitigate the impact of this tax on your retirement financial picture? As explained in a yorknewstimes.com post by The Motley Fool’s Maurie Backman, there are a few planning steps you can take. First and foremost is the use of ROTH IRAs, while relocating to a state where benefits are not taxed is another strategy, while avoiding drawing benefits while still working is another. Read Ms. Backman’s post here for more details…
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