Social Security’s cost of living adjustment (COLA) for 2025 is 2.5% adding $49 to the average monthly check. While this increase is modest it’s still helpful for some seniors. However a special group of Social Security recipients could see an extra benefit increase this year. thanks to changes in the Social Security Benefits for Workers … Read more
Millions of Americans count on Social Security as a lifeline during retirement. However did you know that some states still tax these benefits? While many states have eliminated these taxes 9 states continue to tax Social Security benefits in 2025. Here is what you need to know about these states the rules and the ongoing … Read more
President Donald Trump has recently proposed a bold plan to ban taxes on Social Security benefits which has sparked a lot of discussions. The idea sounds good especially to retirees who depend on Social Security benefits for their income but it raises some important questions. Would Trump’s plan to ban taxes on Social Security truly … Read more
3 groups of retirees will not get Social Security payments on February 3, 2025 if you are one of them don’t worry you won’t have to wait long for your next payment. Social Security’s payment schedule is based on birth dates and the date you will receive your payment depends on when you were born. … Read more
Inherited IRAs in 2025 could bring unexpected tax consequences if beneficiary do not plan carefully. Starting in 2025 beneficiary with Individual Retirement Accounts (IRAs) face new rules that could result in penalties for missed required withdrawals. The IRS has finalized guidance enforcing annual required minimum distributions (RMDs) for certain beneficiaries making it crucial to understand … Read more
Social Security Benefits Under Trump has raised concerns about potential cuts with some of his proposals possibly affecting the program’s finances. But does this mean you should claim your benefits early to avoid possible reductions? Let us dive into what you need to know. The Financial Outlook for Social Security Social Security is not disappearing … Read more
https://www.ssa.gov/disabilityThe Social Security Administration (SSA) plays a crucial role in managing essential programs like the Supplemental Security Income (SSI) and the Social Security Disability Insurance (SSDI). SSDI is a lifeline for those who have contributed to the system through taxes and have met the required work history but the understanding the variation of the program … Read more
The Social Security Administration (SSA) has announced key updates to the Social Security Payment Schedule for February 2025. These changes are designed to ensure that beneficiaries receive their funds on time, even with adjustments to the calendar. Let’s break it down into simple terms. Why the Change? Since February 1 2025 falls on a Saturday … Read more
The Social Security Boost for Teachers and Public Workers is vital for managing expenses in an ever rising world. The United States government has introduced much needed financial relief to struggling and low income citizens. President Biden has passed a new law to help citizens working in public sectors and teachers receive full benefits from … Read more
The Supplemental Security Income (SSI) program managed by the Social Security Administration (SSA) has been providing financial benefits to millions of Americans since its inception. It supports individuals facing challenges related to age, disability or limited financial resources. Launched on 1st January, 1974 as part of broader welfare reforms in the United States, SSI ensures … Read more