10 Social Security Tax Facts to Know
Related: Top 15 IRA Tax Facts to Know
It's an unfortunate fact that many Americans retire with no plan to maximize their Social Security benefits. Financial advisors play an important role in this space, as the right advice could potentially be the difference between clients living comfortably in retirement or just getting by. But rules regarding the timing of withdrawals, maximization of benefits and taxation can create confusion, depending on the client's situation. Are you advising your clients correctly when it comes to their hard-earned Social Security benefits? In the gallery above are 10 important tax and financial planning questions and answers that advisors should be aware of regarding Social Security benefits, according to ALM's Tax Facts Online. (Graphics: Chris Nicholls/ALM) ___________________
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