Will your Social Security benefits be taxed?- Fraser Allport

For many people, the answer is yes. But proactive planning before you retire could help you minimize Income Taxes on your retirement income.

After years of planning for that perfect retirement, diligently investing your money, drawing up detailed budgets and wisely investing your assets, you still have one more big issue and expense: Income Taxes.

As much as 85% of your Social Security income could be subject to federal (and possibly state) income taxes. “ That can be a real shock when people collect their first check,” says Bill Hunter, Head of Strategy for Retirement Client Experience at Merrill Lynch.

How much of your Social Security income is subject to tax depends on a variety of factors, including your federal income tax filing status, and your modified adjusted gross income.

Proactive planning and professional advice is needed for Income Tax Planning. Everything from reviewing your portfolio to properly structuring certain transactions (such as the sale of assets with Capital Gains ) is prudent. Wise planning and sound advice may help you to reduce your Income Taxes in Retirement.

**The Goal is to not over-pay your Income Taxes !**

Please call Fraser Allport, a DROP Specialist,
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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.