Calculating Social Security

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This month marks 84 years since the Social Security Act was signed into law, but despite the program’s lengthy lifespan, many are still confused about how their benefits are calculated. It is crucial that you understand how much additional income your Social Security checks will provide once you start taking them because it can impact your tax bill. Depending on how many sources of income you have in retirement, your Social Security benefits could push you into a higher tax bracket. However, some proactive planning can help ensure that you can maximize your benefits while managing your tax liabilities.

To learn how your Social Security benefits are calculated, tune in! For professional assistance with creating a retirement plan that is designed to be tax-efficient and help maximize your Social Security contact our office at to schedule a time to visit.