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Tax considerations for retirees going back to work

CPA Scott Adair discussed the tax implications of going back to work in retirement Monday during News 8 at Sunrise.

“There are a couple things you need to be thinking about as far as benefits and taxes go – benefits regarding Social Security, healthcare, retirement accounts, and then ultimately that zinger that’s out there is income taxes,” said Adair. “If you’re 62 or over, and you’re going back into the workforce, you need to reach out to the Social Security Administration to consider what the implications are of having that additional income because it certainly could generate additional taxes for you as you go to file that subsequent year’s tax return.”

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