The End of Taxes on Social Security? What Retirees Need to Know
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The End of Taxes on Social Security? What Retirees Need to Know
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What if taxes on your Social Security benefits disappeared entirely? That’s one of several proposals being floated in Washington, and in this episode, Don and Marc break down what it could mean for retirees. They explain how Social Security benefits became taxable, why outdated income thresholds are causing more people to pay taxes today, and explore the possible reforms being discussed.
Here’s some of what we discuss in this episode:
📉 Why more retirees are paying taxes on Social Security
🕰️ How outdated income limits haven’t kept up with inflation
💡 Legal strategies to reduce (or eliminate) Social Security taxes
📊 The "provisional income" formula
💬 State tax considerations for Social Security benefits
Get in touch with Don and learn more: https://doncashpodcast.com/