How To Know If Your Social Security Benefits Will Be Taxed- Season 6: Episode 1

Have you heard that your Social Security benefits are always going to be taxed as income?  Have you heard that they’ll be taxed at a 50% rate?  Or have you heard that your Social Security benefits are never taxed at all?  These statements (rumors, really) have made their way around the online world over the years, so that many people people have no idea what to believe anymore.

The truth is that sometimes a recipient’s Social Security benefits will wind up being taxed under certain conditions, while others may never pay a dime on their benefits at all, even if they receive the maximum amount.  Yes, it’s confusing, but as we always say, knowledge in finance is power.

When might your benefits be subject to income tax?  How much will actually be taxed if that’s the case?  And most importantly: what can you do about it? Find out more with podcast host Johnny Dean and his financial advisor guest, “Professor” Rick Plum, CFP® on this week’s episode of Managing Your Financial Future!

Important Information:

The information provided should not be considered specific tax, legal, or investment advice and is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal. This material was gathered from sources believed to be reliable, however, its accuracy cannot be guaranteed.

No client or prospective client should assume that the presentation (or any component thereof) serves as the receipt of, or a substitute for, personalized advice from Lucia Capital Group or from any other investment professional.

The information provided is based on current laws, which are subject to change at any time. Lucia Capital Group is not affiliated with or endorsed by the Social Security Administration or any government agency.

Social Security rules can be complex. For more information about Social Security benefits, visit the SSA website at www.ssa.gov, or call (800) 772-1213 to speak with an SSA representative.

Rick Plum is a registered representative with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. The investment professionals are affiliated with LPL Financial and are conducting business using the name Lucia Capital Group, a separate entity from LPL Financial.

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