Millions on Social Security to Get 'Bonus' Tax Deduction

The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older.
CNET on MSN

Do You Need to Pay Taxes on Social Security? Maybe. Here's How to Figure It Out

Do You Need to Pay Taxes on Social Security? Maybe. Here's How to Figure It Out ...

How seniors can boost tax refunds with new deduction on 2025 returns

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced deduction for seniors.
Forbes

Social Security’s Payroll Tax Stops For The Rich — But Not For You

NEW YORK, NEW YORK - MAY 02: Elon Musk attends the 2022 Met Gala celebrating "In America: An Anthology of Fashion" at The Metropolitan Museum of Art on May 02, 2022 in New York City. (Photo by Noam ...
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Social Security taxes: What smart retirees need to know

Wondering whether you'll need to pay taxes on your Social Security benefits is a very common concern for many seniors and individuals nearing retirement. The answer, though, is not so straightforward, ...

You May See Big Tax Savings This Year—But It's Coming Out of Your Social Security

While the increased tax savings will feel good for now, it could affect the future of Social Security benefits.
Forbes

The Truth About ‘No Tax On Social Security’

WASHINGTON, DC - MARCH 28: Senate Majority Leader Harry Reid (D-NV) (C) speaks during a rally in support of Social Security with Sen. Tom Harkin (D-IA) (L) and Sen. Bernie Sanders (I-VT) in the ...
Yahoo

These 9 states tax Social Security benefits. Here's what to know.

Add Yahoo as a preferred source to see more of our stories on Google. Is Social Security taxable? Yes, the federal government will take a cut of Social Security, which can include monthly retirement, ...