If your only income in retirement is from Social Security, you probably won’t have to worry about paying income tax. But if you have additional income from other sources — depending on the amount — you can be taxed on up to 85 percent of your benefits.
Taxes are based on your combined income: your adjusted gross income plus half of your Social Security benefit plus non-taxable interest. You can reduce your tax bill in retirement by cutting expenses so you need less income and choosing investments with an eye to reducing taxes.
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