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Social Security and Income Taxes: Looking Beyond the $6,000 Bonus Deduction
At this point, it’s pretty well understood that the 2025 “One Big Beautiful Bill Act” provides a “bonus” income tax deduction intended to offset (for most seniors) the impact of federal income tax levied on Social Security benefits. It’s also…
Social Security’s realities can be an eye-opener for some.
“Unfortunately, although many Boomers will rely on Social Security to help them cover essential (retirement) costs, many members of this age group simply don’t know the truth about this benefit program or what it can do for them.” That’s the…
Social Security and the Federal Payroll Tax
Nearly all workers pay it, but very few understand it – the Federal Payroll Tax. With few exceptions,[1] everyone who works and earns a paycheck is subject to the federal payroll tax on their earnings. That’s more than 180 million American workers, about 93% of the U.S. non-government workforce. …
Christmas Greetings from the Social Security Report Editorial Staff!
“I heard the bells on Christmas Day, Their old, familiar carols play, And wild and sweet, The words repeat, Of peace on earth, good-will to men!” —Henry Wadsworth Longfellow As we gather around our family and friends this Christmas, let…
The Clergy Act H.R.227
The Clergy Act (H.R.227), if passed, would establish a two-year window for certain members of the clergy and Christian Science practitioners to revoke their exemption from Social Security and Medicare taxes on ministerial earnings. Under current law, individuals who object…
Significant Customer Service Improvements at Social Security
The Social Security Administration (SSA) Office of the Inspector General released the results of its audit of SSA’s telephone service metrics during Fiscal Year 2025. “The report definitively concludes that, “SSA’s publicly reported national 800-number telephone metrics were accurate and…
Social Security for Divorced Spouses
Divorce is frequently traumatic and sometimes acrimonious, but such emotions are absent from Social Security’s rules governing benefits for divorced spouses. If the marriage lasted at least 10 consecutive years, benefits from a former spouse are the same as if the marriage had…
When to Apply for Social Security Spouse Benefits
Here at the AMAC Foundation’s Social Security Advisory Service, we answer thousands of inquiries each year, largely focused on when the questioner should claim their personal SS retirement benefit. And we usually say “it depends” – on each person’s individual…
Social Security Disability Insurance (SSDI): Everything you need to know
Here’s a disquieting thought: About 25% of those first entering the workforce will become disabled at some point in their life. Not a pretty outlook, but it is one of life’s proven statistics. However, take some comfort in knowing that…
Poll Results: How do you feel about Social Security?
In one of the most comprehensive analyses we’ve seen lately, the Cato Institute, in this article, provides a very detailed and comprehensive evaluation on how Americans of all generations view the Social Security program. And the picture is not particularly…