Defending Yourself From the ‘Tax Torpedo’

Higher retirement income can trigger hidden taxes on Social Security and Medicare.
Defending Yourself From the ‘Tax Torpedo’
Strategic tax planning may help retirees avoid costly income-based tax traps. Steve Heap/Shutterstock
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Most Americans have a sense of what their taxes would look like for the year. They know their income, their tax bracket, and the current value of their investments.

But the tax system can become very complex for high-income earners and even those with modest income. And it can become even more complicated for retirees who are drawing down their retirement funds to support them through the Golden Years.

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Javier Simon
Javier Simon
Author
Javier Simon is a freelance personal finance writer for The Epoch Times. He specializes in retirement planning, investing, taxes, fintech, financial products and more. His work has been featured by major publications including Fox Business, The Motley Fool, NerdWallet, and Money Magazine.