Latest News
About State Income Tax on Social Security Benefits
Although the title within this article is a bit misleading (implying that Social Security has different rules in 13 states), the article is nevertheless accurate in describing how State income tax can affect how much of your federal Social Security…
Social Security’s Payment Schedule
With so much hoopla about the big Cost of Living (COLA) increase coming in 2022, it’s important to not lose sight of how and when your Social Security benefits are paid. The COLA increase is applied to your December benefit…
Claiming Early Means a Smaller Social Security Check
Age 62 remains the most popular age at which Social Security benefits are claimed, but too often for the wrong reasons. Don’t misunderstand – there are some very good reasons why claiming Social Security before you reach your full retirement…
A Quick Primer on Survivor Benefits
In this article by Liz Weston appearing in The Oregonian, the author answers a question from a reader who lost her husband and doesn’t understand why she doesn’t now get a higher Social Security benefit as a surviving spouse. As…
A New Year Brings Changes to Social Security
As each new year approaches, Social Security announces the changes that will affect benefits in the coming year. Most people have already heard that a Cost of Living Adjustment of 5.9% – the highest in decades – will be applied…
Falling Birthrates and the Impact on Social Security
The long-term financial uncertainty faced by Social Security is becoming a well-known fact these days, with the most recent Trustees Report warning of a potential across-the-board cut in benefits in about a decade from now. In studying the problem, it…
Diagnosed with Cancer? Social Security and Triage Cancer Can Help
(Source: Social Security Administration) When people hear the dreaded words, “You have cancer,” many thoughts often overwhelm them. They think about their health, family, and mortality. They think about treatment options, oncologists, and cancer centers. What they typically don’t think…
Anxious to See Your New Benefit Amount? There’s a Way to Jump the Line.
The Social Security Administration is sending out letters to inform beneficiaries of what their newly adjusted monthly payment will be in January, and you will get yours eventually. If you want to find out sooner–as in right now–there’s a way…
IRS Offers Additional Security for Social Security Numbers
In case you weren’t aware, the Internal Revenue Service next month will be offering an Identity Protection Personal Identification Number (IP PIN) program designed to proactively protect taxpayers against identity theft. As explained in a post on cpapracticeadvisor.com, the IP…
Getting “Additional Social Security Benefits” as a Result of Military Service
An article posted today on GoBankingRates.com suggests that certain Veterans may have an opportunity to “boost” the amount of their Social Security benefit check, depending on when they served in active duty. This is an area where the AMAC Foundation’s…