Why More Retirees May Need to Pay Taxes on Social Security Benefits in the Future
Social Security benefits are a significant source of income for many retirees. Especially if your nest egg isn't as robust as you'd hoped it would be, those monthly Social Security checks can go a long way in helping you enjoy a more comfortable retirement.
However, there's a chance that once you retire, you may not collect as much in benefits as you think. That's partly because the Social Security program is facing a cash shortage and benefits cuts could be looming on the horizon. But your benefits could also be reduced thanks to taxes, and there's a greater chance Uncle Sam will take a cut of your monthly checks in the future.
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Source Fool.com
