Your Taxes in Retirement
Many people heading in to retirement don’t realize that they could be taxed on their benefits. Although this does not affect everyone, those it does affect may not know just how much the taxes will hit them. There is a good chance that if you have sources of income other than Social Security in retirement that you will meet the thresholds required for this tax. These sources could be from a job or investment, as long as it puts you above the yearly earnings of $25,000 then your Social Security benefits are eligible to being taxed. For more information visit this article by Dan Caplinger with The Motley Fool.
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