Sign up to save your podcasts
Or
Share Stop Overpaying on Social Security Taxes — Here’s the Real Strategy
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Stop Overpaying on Social Security Taxes — Here’s the Real Strategy
In this video, Colin Exelby, CFP® covers how social security taxation works and how to minimize it
Most retirees are shocked to learn that up to 85% of their Social Security benefits can be taxed — but it doesn’t have to be that way. In this video, I’ll break down exactly how Social Security taxes work, where they came from, and how you can legally lower or even eliminate them. You’ll learn how provisional income is calculated, what counts (and doesn’t count) toward it, and how using Roth IRAs, HSAs, annuities, and real estate income can help keep your taxable income low. I’ll also show how new 2025 deductions could make a portion of your income completely tax-free. If you’re nearing retirement or already collecting benefits, this is a must-watch guide to keeping more of what you earned.
⭐This video is sponsored by Chapter. Find out more about your Medicare options by speaking with a real human in the U.S. Call Chapter to schedule your complimentary appointment at ➡️ (818) 924-2041 or visit ➡️ https://askchapter.org/CWM⭐
#SocialSecurity #Taxes #RetirementPlanning #TaxFreeIncome #RetirementTips #FinancialFreedom #TaxStrategy #RothIRA #RetirementIncome #PersonalFinance
00:00-Intro
01:18-What is provisional income?
02:39-What doesn't count as provisional income?
03:40-How provisional income makes your social security taxable?
04:15-Taxable doesn't mean taxed
06:36-How to keep your provisional income low
★☆★Stop leaving yourself vulnerable to data breaches. Go to my sponsor Aura to get a 14-day free trial and see if any of your data has been exposed.★☆★👇
https://aura.com/cwmwealth
⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join
Outstanding Personal Finance Tools👇
Budgeting...👇
★☆★ Rocket Money (originally called as TrueBill) ★☆★
https://rocketmoney.sjv.io/CelestialWM
Wealth Management...👇
★☆★Personal Capital ★☆★👇
https://personalcapital.sjv.io/CelestialWM
Bookkeeping...👇
★☆★Gusto Bookkeeping★☆★👇
https://gusto.pxf.io/CelestialWM
[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.
I provide financial planning for business owners and their families that makes sense.
Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.
We strive to help you:
*Optimize Your Cash Flow
*Minimize Your Taxes
*Build Your Net Worth
*Create a Lasting Legacy
➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️
Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe and I'll see you in the comments!
Top Financial Advisor Baltimore. Top Financial Planner Maryland.
Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.
Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.
View all episodes
By Celestial Wealth Mgmt
5
22 ratings
In this video, Colin Exelby, CFP® covers how social security taxation works and how to minimize it
Most retirees are shocked to learn that up to 85% of their Social Security benefits can be taxed — but it doesn’t have to be that way. In this video, I’ll break down exactly how Social Security taxes work, where they came from, and how you can legally lower or even eliminate them. You’ll learn how provisional income is calculated, what counts (and doesn’t count) toward it, and how using Roth IRAs, HSAs, annuities, and real estate income can help keep your taxable income low. I’ll also show how new 2025 deductions could make a portion of your income completely tax-free. If you’re nearing retirement or already collecting benefits, this is a must-watch guide to keeping more of what you earned.
⭐This video is sponsored by Chapter. Find out more about your Medicare options by speaking with a real human in the U.S. Call Chapter to schedule your complimentary appointment at ➡️ (818) 924-2041 or visit ➡️ https://askchapter.org/CWM⭐
#SocialSecurity #Taxes #RetirementPlanning #TaxFreeIncome #RetirementTips #FinancialFreedom #TaxStrategy #RothIRA #RetirementIncome #PersonalFinance
00:00-Intro
01:18-What is provisional income?
02:39-What doesn't count as provisional income?
03:40-How provisional income makes your social security taxable?
04:15-Taxable doesn't mean taxed
06:36-How to keep your provisional income low
★☆★Stop leaving yourself vulnerable to data breaches. Go to my sponsor Aura to get a 14-day free trial and see if any of your data has been exposed.★☆★👇
https://aura.com/cwmwealth
⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join
Outstanding Personal Finance Tools👇
Budgeting...👇
★☆★ Rocket Money (originally called as TrueBill) ★☆★
https://rocketmoney.sjv.io/CelestialWM
Wealth Management...👇
★☆★Personal Capital ★☆★👇
https://personalcapital.sjv.io/CelestialWM
Bookkeeping...👇
★☆★Gusto Bookkeeping★☆★👇
https://gusto.pxf.io/CelestialWM
[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.
I provide financial planning for business owners and their families that makes sense.
Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.
We strive to help you:
*Optimize Your Cash Flow
*Minimize Your Taxes
*Build Your Net Worth
*Create a Lasting Legacy
➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️
Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe and I'll see you in the comments!
Top Financial Advisor Baltimore. Top Financial Planner Maryland.
Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.
Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.