Dealing With Taxes on Your Social Security Benefits- Season 4: Episode 5

Taxes are a fact of life for most people.  Even your Social Security benefits – for which you had the pleasure of paying taxes to receive – are subject to taxation under certain circumstances. And this can hit you unexpectedly, putting a sizable dent in your benefit income.

What to do about this?  First thing is to recognize when and how your Social Security benefits may become taxable to you.  This is where planning can play a key role, especially before you begin to take required minimum distributions at age 72.

On this week’s episode of Managing Your Financial Future, host Johnny Dean and advisor Rick “The Professor” Plum, CFP® discuss the aspects of Social Security taxation, and what you may be able to do to potentially minimize what you owe.  Tune in to find out more!