How To Maximize Social Security Benefits (Part 1, 2018)

#1. Make sure your earnings record has been recorded correctly.

#2. Every year you work could increase benefits.

#3. Coordinate your benefits with your spouse.

#4. MINIMIZE taxes by understanding how Social Security is taxed. See this video.

#5. Take advantage of your TWO Standard Deductions. (Married filing jointly over 65 you have $26,600 of Standard Deductions. In GA, you also have $130k income exempted from taxation.)

#6. Delay, delay, delay!!!  Every year you delay gives you more tax favorable income.

Part Two:

 

 

© Copyright 2018 Heritage Wealth Planning