Taxes in Retirement and Social Security Benefits
Some people will be subject to taxes on their Social Security benefits in retirement. For most people this will not apply, but that is why those that will be affected need a reminder. It is easy to forget this fact and wonder why your Social Security check is not as big as it should be when you retire. Benefits are taxed on a scale based on other sources of income but cannot be taxed past a certain amount, and this generally only effects the higher earners and those who worked with a position in the state or federal government. For more information on this subject, visit this article by Bruce Miller with Seeking Alpha.