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.

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

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

Vermont legislators are introducing a bill to phase out state income tax on Social Security benefits. In other words: retired Vermonters won’t have to worry about paying taxes on their Social Security benefits.

On the state level, though, the rules are different. A total of 41 states don't tax benefits, but nine do. If you live in one of them, you may need to make some plans to avoid owing money to the government. Here are the nine states that tax Social Security benefits in 2025:

President Donald Trump has tapped businessman Frank Bisignano as the Social Security Commissioner. What could that mean for you?

Undocumented workers often pay taxes that help fund programs like Social Security — even if they can’t collect from them in the future.

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.