Half of retirees don’t need to worry about it at all. Others will have no way of avoiding it. And more and more retirees will fall victim to it in the coming years. It’s the ‘tax torpedo’, which the author of today’s article explains is “a name given to the unexpected way that Social Security can get taxed, depending on how much other income you have.” For more on the tax torpedo – including when it typically hits, why any action to keep it at bay needs to be initiated years in advance, and how exactly you can go about doing so – CLICK HERE.
