KEY TAKEAWAYS A bill to eliminate taxes on Social Security benefits, an idea which President Donald Trump has supported, was recently reintroduced to the House.Currently, about 40% of Social Security beneficiaries,

If you're currently receiving or soon will be receiving Social Security retirement benefits, here's what to know about which states may tax you.

Retirement account withdrawals and earnings from a job may not be the only taxable income you have, either. The federal government taxes seniors' Social Security benefits if their income exceeds certain thresholds. If you live in one of the following nine states, you could owe some state Social Security benefit taxes as well.

The Social Security Benefit Statement is also known as the SSA-1099 or the SSA-1042S. It is a tax form we mail to you every January if you receive Social Security benefits. It shows the total amount of benefits you received in the previous year, so you know how much Social Security income to report to the IRS on your tax return.

In 2025, the maximum monthly benefit Social Security will pay is $5,108. To be clear, though, that's higher than the program's maximum benefit at full retirement age this year. Those looking at $5,108 a month in Social Security need to delay their claims until the age of 70 to lock in payments that high.

Key Points At age 30, the Social Security Administration may not give you the most accurate benefit estimate. The closer you get to retirement, the more helpful that estimate can be. Aim to set yourself up with savings and rely less on Social

How are survivor benefits calculated? The amount surviving family members can get depends on the average lifetime earnings of the person who died. The more they paid into Social S

For millions of Americans, the Social Security retirement check is a lifeline. However, certain overlooked factors can jeopardize this crucial income source. Understanding these risks is essential for a secure retirement.