Get Your Complimentary “Social Security Benefits Planner”

You may need to pay income taxes on a portion of your Social Security benefits based on your income. Knowing the rules can help you minimize your tax liability as much as possible.

Understanding Provisional Income

Your Social Security benefits’ taxability depends on your “Provisional Income.” This is calculated by adding your adjusted gross income (AGI) (excluding Social Security benefits), nontaxable interest (like tax-free bond income), and half (50%) of your Social Security benefits. Here are the thresholds:

Single or Head of Household:

Below $25,000: No income tax on Social Security benefits.
$25,000 to $34,000: Up to 50% of benefits may be taxable.
Above $34,000: Up to 85% of benefits may be taxable.

Married Filing Jointly:

Below $32,000: No income tax on Social Security benefits.
$32,000 to $44,000: Up to 50% of benefits may be taxable.
Above $44,000: Up to 85% of benefits may be taxable.

Key Points to Consider

Avoid Overpaying Taxes: Understanding these thresholds helps you avoid unnecessary taxes.
Professional Help: Tax matters can get complicated. Seeking professional help ensures accuracy and compliance, especially with the IRS.
Irrevocable Decisions: Social Security decisions are irrevocable after 12 months, making professional guidance essential for retirement planning.

Contact Fraser Allport

For personalized advice, call Fraser Allport at 386.882.6256 or visit Fraser Allport’s website. Fraser offers complimentary consultations to help you navigate Social Security, Medicare, and other retirement planning aspects.

Fraser can help you with a Retirement Plan so that you “ Know Your Numbers ”.

Call Fraser Allport, your Florida DROP Specialist,
to obtain your Complimentary copy of :

“ The Social Security Benefits Planner –
Income Taxes and Your Social Security Benefits. “

Fraser will give you easy software calculators to help you
and your Spouse optimize your Social Security benefits …
by determining the correct strategy and timing for your situation.

See Fraser’s Estate Planning services at :

https://nicep.org/profile/fraser-allport-id-908

Fraser’s Biography, Services, and Credentials are at :

www.fraserallport.com

Follow Money and Markets at :

https://twitter.com/fraserallport

Client references are available for you to speak with upon request.

Fraser Allport: Your Trusted Guide to a Secure Retirement

For over 42 years, Fraser Allport has been a leading financial professional in Florida, specializing in retirement planning. He's committed to helping individuals in Daytona Beach, Port Orange, Space Coast, and Palm Coast navigate the complexities of retirement with confidence.

Why Choose Fraser Allport?

* Proven Expertise: As a Fiduciary, Investment Advisor, and Certified Estate Planner™, Fraser brings a wealth of knowledge and experience to the table.
* Independent and Objective: Fraser works for you, not a big company or bank, ensuring unbiased advice.
* Comprehensive Services: From DROP planning and 401(k) rollovers to IRA strategies and estate planning, Fraser offers a full spectrum of services.
* Local Focus: He understands the unique needs of Florida residents, including those in Daytona Beach, Port Orange, Space Coast, and Palm Coast.

Specializing in DROP Planning

Fraser is a recognized Florida DROP Specialist. He helps clients navigate the intricacies of the Deferred Retirement Option Plan (DROP), maximizing their retirement savings. This includes:

* Optimizing un-used DROP sick and vacation days
* Developing a customized action plan for your DROP
* Ensuring you make informed decisions about your retirement funds

Beyond DROP: A Holistic Approach

Fraser's services extend beyond DROP, offering a comprehensive approach to retirement planning:

* Retirement Planning: Tailoring your retirement plan to achieve your goals, whether it's a 401(k) rollover, an inherited IRA, or choosing the best Roth IRA.
* Tax Minimization: Developing strategies to minimize your tax burden in retirement.
* Estate Planning: Creating a plan to protect your assets and ensure a smooth transition for your loved ones.
* Home Health Care: Developing a personalized plan for your home health care needs.
* Annuities and IRAs: Exploring these options to secure your financial future.