GET SMART ABOUT SOCIAL SECURITY
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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
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