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How Did Investors Fare Market Crash 2020?

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What is the Social Security Tax Torpedo?

The Social Security Tax Torpedo is a nasty tax spike that often impacts people receiving Social Security income. It's nicknamed a torpedo because the increased effective tax rate only lasts while Social Security income is taxed. It starts when Social Security first becomes taxable and lasts until all Social Security income has been taxed. Like a torpedo, it strikes, and then it's gone.

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