The tax bill retains taxation on Social Security, making AGI management vital for retirees. Joint filers must keep AGI under $150,000 and individuals under $75,000 to avoid losing benefits. IRA distributions affect AGI, regardless of tax withholding. Required minimum distributions start at 73, giving flexibility, but exceeding AGI thresholds can lead to unintended taxes on Social Security income. Careful planning is essential to maximize the benefits of retirement income.
Seniors must maintain an adjusted gross income (AGI) below $150,000 for joint filers and $75,000 for individuals to fully benefit from tax breaks.
Required minimum distributions begin at age 73, allowing retirees to plan; exceeding AGI thresholds may unexpectedly tax Social Security benefits.
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