In today’s retirement landscape, working during retirement andwhile claiming Social Security benefits has become arelatively common occurrence—but what are the rules when only onespouse continues to work during retirement?
And how do modern complications such as divorce and dualearnings records factor in? While the basic rules for taxingSocial Security benefits during a workingretirement are relatively straightforward, when modern daycomplications are factored into the equation the results areanything but simple.
This magnifies the importance of the advisor’s role in providingguidance on the impact of simultaneously working and claimingSocial Security benefits in order to maximize Social Securityduring a working retirement.
The working retirement Social Security tax
As is becoming extremely common, a client can begin tocollect Social Security benefits even while he orshe continues to work and earn income. However, a portion of thatbenefit will be subject to tax rules that differ from the otherwiseapplicable tax rates.
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