Timothy Sumer

Do you have a tax-efficient retirement income strategy that maximizes Social Security? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to It's no secret that the Social Security system can be complex. One of the most complex parts of Social Security is how your benefit will be taxed. When S.S. was first put into law, it was said that it wasn't taxed and would never be. Well, that changed in 1983. Now everyone's benefit will potentially become taxable. But exactly how much of your benefit will become taxable will depend on the Social Security Tax Calculation Formula or otherwise known as provisional income. Understanding this formula is critical to building a tax-efficient retirement income. In this video, we'll walk through step-by-step examples showing exactly how to determine how much of your Social Security benefit will be taxable a...

Are Social Security benefits taxable? Understanding the impact of Social Security Taxes in Retirement. GET YOUR OWN PROFESSIONAL Social Security Analysis and Strategy Report: Free Resources Contact Us ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Social Security benefits are a source of income for many retired Americans, but did you know that these benefits are taxed? For those who are not aware, Social Security benefits are subject to federal income tax. In fact, up to 85% of your Social Security benefit could be taxed. Here is what you need to know about how your Social Security benefits are taxed. Who is taxed? Not everyone who receives Social Security benefits is subject to federal income tax. The amount you pay in taxes depends on your total income for the year. Your income includes more than just your Social Security bene...

#financial education #retirement tax planning Are you planning for retirement? Do you have most of your retirement savings in Traditional IRA's or 401k plans? You could be sitting on a huge tax liability bill! In this video I outline a tax strategy for retirement. (one of my 7 core elements of retirement planning ) In this video you will learn... ** How the Tax Cuts and Jobs Act of 2018 presents a unique planning opportunity for retirees. ** How to coordinate your Social Security strategy into your tax plan for retirement. ** The 3 primary retirement tax buckets and how to balance your investments in each. ** What happens to your taxes if you or your spouse dies. ** How your taxes can cause higher medicare costs. ** Impact of Required Minimum Distributions on your taxes. Thank you for watching! Please subscribe to our channel if you like the content. retirement planning can seem overwhelming, and it's hard to know where to start. I am passionate about retir...