The Stealth Way Social Security Has Been Robbing Seniors of Their Benefits for Years
Social Security is a critical income source for millions of seniors, and while you'll often hear that it's not advisable to live on those benefits alone, the reality is that many seniors do. But some people do a good job of saving for retirement and securing other income streams. As such, their benefits represent just a portion of their total senior income.
That's really a more ideal situation. But seniors with outside income take one big risk -- getting taxed on their Social Security benefits. And worse yet, the rules regarding those taxes haven't changed in years, and seniors often feel the pain because of that.
Seniors who don't have income outside of Social Security can generally avoid taxes on their benefits. But those with additional income often get penalized in the form of taxes.
Source Fool.com
