13 May Taxation of Social Security Benefits
One of the many things I like about Bruce is that he is passionate about all aspects of Social Security. He is my go to resources on all matters in these regards. As it turns out Social Security, particularly the tax implications of Social Security benefits, is a topic that many of us need help better understanding.
The two hardest aspects of Social Security for prospective retirees to wrap their arms around is both understanding how provisional income impacts the taxable nature of Social Security benefits and then also subsequently dialing in the precise point in which it is most advantageous to begin receiving benefits.
An interesting fun fact I learned from reading this report is that it is statistically possible to receive up to $119,400 in annual Social Security benefits if you play your cards correctly and are fortunate enough to live well beyond average life expectancy.
I strongly suggest reading the report today.