Social Security: Keeping Exorbitant Tax Rates at Bay

Don’t Let Clients Fall into This Social Security Tax Trap

Social Security recipients may face disproportionately high tax rates because of the way the IRS calculates income with respect to Social Security.  So-called combined income includes adjusted gross income as well as tax-free income, half of Social Security income and some add-ons.  Paul Norr, certified financial planner with Bucks County Financial Planning Group, discusses how advisers can help clients manage the tax bite in several ways.

To read the full article in Financial Planning, click: Social Security: Keeping Exorbitant Tax Rates at Bay.