GET SMART ABOUT SOCIAL SECURITY
Maximize your retirement income with these tips
GETTING THE MOST out of Social Security is all about waiting as long as possible to start filing for benefits, right?
Not quite—especially if, as a business owner, you get to decide how you are paid.
You can actually live on a lot more money in retirement if you make some changes right now to your salary and take some steps to adjust your current tax bills, says Matthew Allen, a co-founder of New York City–based Social Security Advisors.
“Self-employed people generally have more flexibility in how to structure their income,” he says. “That gives you a lot of good opportunities because of the way Social Security benefits are calculated.”
The main tactic that Allen lays out below isn’t overwhelmingly complex: Start
