SALT LAKE CITY, Utah (ABC4Utah) – Claiming your social security benefits impacts more than just your social security check, it can impact how much you can pay in taxes, Medicare premiums, forfeiting your spousal benefits, and even cost you then of thousands all throughout your retirement life.
One example of a family having to navigate social security is Rex.
Rex got up at 4:30 every morning for 47 years … to pour concrete at the jobsite. He worked his tail off and made a lot sacrifices to support his family, and save money for retirement.
He also knew that when he was working … a big chunk of money was deducted from those paychecks…12.4% of every paycheck to be exact was going to Social Security. And he knew that this was going to be a lot of money one day.
But he quickly discovered that claiming his Social Security benefits was complicated and confusing. And he was shocked to learn that he could be on the hook to pay taxes on as much as 85% of his Social Security benefits.
Rex started asking a lot of questions and searching for answers. BOSS helped him not only get the most out of these benefits, but also minimize the taxes on these benefits – so he could keep more of his hard-earned money in his pocket.
You have to give Rex a lot of credit for asking the right questions and looking for someone to help him make this decision so he didn’t risk making expensive mistakes with something he had worked so hard to build over 47 years … and finding a guide who could show him the way to get a very successful result.
Unfortunately most people don’t have a clue how taxes works and claims can trigger an avalanche of taxes. To help figure out where to start call 801-701-8881 or visit BOSSReitrement.com
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