Americans are eligible for Social Security Benefits beginning at the age of 62. However, most seniors will often wait for a later age to start collecting their benefits. This is especially true because the longer they wait, the more benefits they will receive. Social security benefits are taxable, but it depends on various factors including age and income.
Read MoreWhile we all know that we have to pay taxes, many of us do not understand how taxes work. We just hope for the best each year when we file taxes. Many of us hope for the biggest tax refund we can get. I even know some people that intend to use their tax refund for a large purchase like vacation or a car. The down side to that is getting a tax refund is not always the best financial decision.
Many economist believe that the best way to handle taxes is to break even, or even owe money at the end of the year. Continue reading to find out more information about taxes and the best tax refund.
