Social Security payments have been helping seniors supplement their retirement income since the Social Security Administration was created in 1935. With the decline of employer pension plans, workers have become increasingly responsible for building their own retirement savings nest eggs.

President Donald Trump has said that under his second term he would look to eliminate taxes on Social Security income for seniors, which at first glance sounds like a good thing for folks who

You can avoid paying taxes on your retirement account withdrawals if you have enough deductions to offset the amount you take from your accounts. In 2025, the standard deduction for a couple age 65 or older is $33,200.

Social Security is a critical source of income for millions of retirees, a good number of whom have to get by on those monthly benefits alone due to a lack of savings. But many Social Security recipients are surprised to learn that those benefits can be subject to taxes at both the federal and state

Social Security beneficiaries may face taxes if they have additional income sources or due to the COLA increase. Here's how to determine if you're affected.

President-elect Donald Trump has made a bold promise to eliminate federal taxes on Social Security benefits. For millions of retirees, it’s an enticing idea, conjuring visions of bigger monthly checks and greater financial freedom.

First, many retirees elect to downsize. If you're still paying for your home, moving to a smaller house or apartment could reduce your expenses. If you've paid off your home, downsizing could at least lower your utility bills and property taxes.

The program’s finances could take another hit if some of the president’s tax proposals are passed. What to know about claiming early.

Now that Donald Trump is has started his second term as president, backed by a Republican-controlled House and Senate, there has been a lot of talk surrounding Social Security. Specifically,