The Social Security system tax traps
By Steve Savant
There are three stealth tax traps that can ensnare almost any retiree receiving their Social Security benefits: the spousal trap, the muni bond trap and the capital gain trap. Conservative Ken Davis calls it an insidious attack on seniors. Steve and Ken recite their mantra on line 20b of the 1040 to underscore the need of every adviser to be aware of this item.