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Why retirees' tax rates may be higher than they expect

Why retirees' tax rates may be higher than they expect

Finance
You may have stopped working, but Uncle Sam is still digging into your pocket. Though high-income retirees are looking forward to lower taxes once they've exited the workplace, they can still expect to pay stealth taxes in the form of Social Security income levies and higher Medicare premiums. "For a lot of retirees, the thinking is, Oh, they're retired and their tax bracket is going down," said William Reichenstein, professor emeritus at Baylor University. He led a discussion on tax-efficient withdrawal strategies in retirement at the Financial Plann...