Reported 22 days ago
Receiving $3,500 per month in Social Security benefits can lead to significant tax liabilities, which are determined by your combined income. If you're over the income thresholds, you might face taxes on up to 85% of your benefits. To reduce your taxable income, consider strategies like converting retirement assets to a Roth IRA or adjusting your withdrawals. Consulting a financial advisor can provide tailored advice to minimize your tax burden effectively.
Source: YAHOO