Ask the Boston Money Coach Question.) I retired at age 55 and am returning to work. How will this affect my Social Security Benefits at age 67? Betty in Florida Response from Boston Money Coach Steve Stanganelli: Your benefits from Social Security are based on your lifetime earnings. Your income taxes on Social Security benefits will depend on your age and your current earnings. That's a ... Read More
Full Retirement Age
Ask the Adviser: Will My Social Security Benefits Be Reduced If I Work?
Social Security benefits can be complex to calculate and understand for almost anyone who doesn't work at Social Security or do this every day. And the bottom line impact can be huge in terms of cash flow and potential tax liability. Special Rule for 1st Year Retirees You may be interested in knowing that there is a special rule for the first year you retire. Sometimes people who retire ... Read More
Watch Out! Social Security Benefits and Taxes
Below is a post from the Boston Tax Institute (May 31, 2011) from Kurt Czarnowski, formerly with the SSA as Regional Communications Director in New England. Kurt presented to the Merrimack Valley Estate Planners Council, one of my groups a while ago and always had a knack for making the complex and dry information from Social Security enlightening and fun. Unfortunately, many people do not ... Read More
