Did the Tax Cuts and Jobs Act Eliminate the Social Security Tax Torpedo?

The Tax Cuts and Jobs Act represents a relatively significant tax cut for most middle-income retirees, but the bill did nothing to change the interactions between different income sources in retirement, which means that retirees will need to pay close attention to which accounts they withdraw from at which points in time.

A case study: old vs. new 

To illustrate the interactions between ordinary income, such as IRA withdrawals, Social Security benefits, and long-term capital gains, Joe contributed this article to Financial Advisor, "Tax Cuts Eliminate Social Security Tax Torpedo, Retirement Income Juggling Act."

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This entry was posted in Tax Reform, Tax Cuts and Jobs Act, Tax Clarity, Tax, Taxes