‘Social Security benefits are not taxable.’
We sort of understand this myth, especially when it comes to those who hadn’t stayed on top of hos Social Security has evolved over the years. Initially, the money was not taxable. But in that changed in 1983 and applies when your income reaches a certain number.Â
Sadly, there isn’t much you can do to avoid taxes, but you can make them more manageable. Watch out for IRA withdrawals, take the distributions before you collect Social Security to have a better footing on your finances.
