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The Declining Net Social Security Benefit Dilemma

The taxation of Social Security benefits is becoming a hot issue these days, especially at this time of the year as we all dutifully file our federal income tax returns and many of us once again are reminded of how much of our Social Security benefit is forfeited. It’s not a new thing, by any stretch…it’s been a fact of life for over 40 years. The problem is that the creep in earnings over that forty-year period each year draws more and more senior taxpayers into the loop. What was originally targeted toward a small number of folks now hits about 60% of taxpayers, and so the attention grows. Financial Planner Devin Carroll, in a video posted recently, provides an explanation of how this taxation problem has evolved and how it applies. Check out his video here…

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