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Social security income tax Form: What You Should Know

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Video instructions and help with filling out and completing Social security income tax form

Instructions and Help about Social security income tax form

He's claiming Social Security benefits at the earliest age possible of 62 the best strategy that is the subject of this episode Music welcome back to another episode of The Financial Fastlane my name is Layne Martinson and when we consider claiming Social Security benefits there is a strong tendency to want to get those benefits as soon as possible at age 62 the majority of Americans who are eligible to receive benefits do claim them at age 62 but is that really the best strategy a few months ago I created a video we had an episode where we talked about the differences of claiming and delaying and what that looks like and we broke that down if you haven't had a chance to see that video I would suggest you look at it that video has received a lot of attention and hundreds of comments and it was interesting to see how many people commented where they took issue with one of my statements in that video where I pointed out that 74 percent of everyone who is currently receiving Social Security benefits are receiving less than what they were eligible to receive and that that was a result of poor planning and so I wanted to clarify that point there are there are many times who are claiming early claiming at age 62 is the best option but it really depends on your specific situation and a lot of times people they feel like that's their only possible option there could be and not maybe taking into account that other people situations are quite different than theirs and so there are it is quite complex and when you take into account taxation on Social Security when you take into account the other factors when you're taken to...

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