Many people find they need to change or correct theirSocial Securityinformation when they get married ordivorcedand change their names. Or they need a replacement Social Security card when they realize they’ve lost their original one or it's been stolen. Here's how to deal with these situati...
Suspend Your Social Security Payments This is a little-known strategy you can use if you change your mind after claiming a benefit. For example, say you start Social Security but decide tokeep working, which allows you to amass more credits and a higher benefit later. This strategy is onl...
Don’t forget Social Security benefits are taxable. If you make more than $25,000 as a single filer or $32,000 for married couples, you will owe taxes on your Social Security benefits. It would be difficult, if not impossible, for many people to live off Social Security alone in ...
Maximum Social Security Benefit in 2025 Retirees can boost their Social Security benefits by delaying, strategizing spousal claims and optimizing income sources. Kate StalterJan. 13, 2025 Social Security Fairness Act: What It Is Some people haven't received all their Social Security benefits, even ...
Figuring out when and how to take Social Security can be a complicated decision. If you're widowed, divorced, or have never married, here are some strategies to consider to help make the most of your Social Security benefits.
Transfer Health Insurance: If you are enrolled in Medicare, notify the Social Security Administration about your change of address. This will ensure that your Medicare coverage is transitioned smoothly to your new state. Gather Required Documentation: Depending on the type of benefit you receive, you...
For tax year 2024, seniors filing as single or married filing separately will usually need to file a return if both: you are at least 65 years of age your gross income for tax is $16,550 or more However, if your only income is from Social Security benefits and the a...
If the sum of your adjusted gross income, nontaxable interest and half your Social Security benefit is higher than $25,000 as an individual and $32,000 as a married couple, you might have to pay income tax on up to 50% of your Social Security payments. If these income so...
Social Security recipients who have an income greater than $97,000 for individuals and $194,000 for married couples filing jointly will see higher Medicare Part B premiums and potentially lower Social Security benefits. "The thing with Medicare Part B premiums is that they usually come...
The start of a new year usually means changes to Social Security, and this year is no different. The changes to Social Security retirement benefits and changes that affect workers still paying into the program often get the most attention, but spousal be