From The Retirement Nerds.
In this video, I sit down with Zacc Call to discuss the Big Beautiful Bill and its significant effects on Social Security taxability, Roth conversions, and the overall tax burden for seniors. Zacc walks us through the Social Security Taxability worksheet, which can help seniors understand the complexities of tax planning and ensure they’re optimizing their retirement strategy. We break down the details of the worksheet, offering actionable insights to help you reduce tax liabilities and make smarter financial decisions as you approach retirement.
If you’re a senior, planning for retirement, or simply looking to learn more about tax strategies for Social Security, this video is a must-watch.
Download the free Social Security Taxability Worksheet Here:
Zacc’s YouTube Channel:
https://www.youtube.com/@ZaccMoneyEducation?sub_confirmation=1
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In this video, I sit down with tax expert Zacc Call to discuss the Big Beautiful Bill and its significant effects on Social Security taxability, Roth conversions, and the overall tax burden for seniors. Zacc walks us through his Social Security Taxability worksheet, which can help seniors navigate the complexities of tax planning and ensure they’re optimizing their retirement strategy. We break down the details, offering actionable insights to help you reduce tax liabilities and make smarter financial decisions as you approach retirement.
If you’re a senior, planning for retirement, or simply looking to learn more about tax strategies for Social Security, this video is a must-watch.
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⏰ TIME CODES ⏰
0:00 Intro to the Worksheet
1:31 Setting Up Income
4:06 Charitable Distributions Clarification
6:30 Social Security Taxability Calculation
7:49 Senior Bonus Deduction Discussion
15:24 Tax Torpedo
16:50 Roth Conversion Tax Torpedo
19:03 Phase Out of Senior Deduction
22:29 Changing Filing Status
22:58 Middle Tables
28:40 Do the New Deductions Change Roth Strategy?
29:29 4-Year Window
32:02 Impact on Higher Incomes
34:18 Focuses for High vs Low Income
34:59 Should You Even File?
38:12 SALT Deduction
39:57 Important Resources
Disclosure:
This podcast is intended for informational purposes only, and is not a substitute for personal advice from Capita. This is not a recommendation, offer, or solicitation to buy or sell any security. Past performance is not indicative of future results. There can be no assurance that investment objectives will be achieved.
Different types of investments involve varying degrees of risk, including the loss of money invested. Therefore it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or proposed by Capita will be profitable. Further, Capita does not provide legal or tax advice. Please consult with your legal or tax professional for advice prior to implementing any strategies discussed during this podcast.
Certain information discussed during this podcast is based upon forward-looking statements, information and opinions, including descriptions of anticipated market changes and expectations of future activity. Capita believes that such statements, information and opinions are based upon reasonable estimates and assumptions. However, forward-looking statements, information and opinions are inherently uncertain and actual events or results may differ materially from those reflected in the forward-looking statements. Therefore, undue reliance should not be placed on such forward-looking statements, information, and opinions. Registration with the SEC does not imply a certain level of skill or training.
