Anonymous wrote:Let me ask a stupid question (am not yet a Social Security recipient.)
If you get, say, $2,500 a month from S.S., is it taxed?
For example, if your paycheck at a job were $2,500, you'd expect to "net" about $1,850-ish, i.e., $2,500 in pay with about a quarter ($650-ish) lost in taxes. So you only end up with $1,850.
Is that how Social Security works, or do you get the whole $2,500?
Thanks for any info.
Anonymous wrote:
the reality
https://www.investopedia.com/eliminating-soci...enior-bonus-11743513
President Donald Trump has promised to eliminate taxes that beneficiaries pay on their Social Security checks.
The Big Beautiful Bill does not eliminate taxes on Social Security benefits, but it does give a temporary tax break to those 65 and older with a modified adjusted gross income of up to $75,000—what some are calling a "senior bonus."
Eliminating income taxes on Social Security benefits would drain the trust funds that back the program faster than already projected.
+1 I will believe the Social Security "no tax" when they stop taking taxes out of my SS check. They would lose a LOT of money if they did this.
Anonymous wrote:Let me ask a stupid question (am not yet a Social Security recipient.)
If you get, say, $2,500 a month from S.S., is it taxed?
For example, if your paycheck at a job were $2,500, you'd expect to "net" about $1,850-ish, i.e., $2,500 in pay with about a quarter ($650-ish) lost in taxes. So you only end up with $1,850.
Is that how Social Security works, or do you get the whole $2,500?
Thanks for any info.
Anonymous wrote:Anonymous wrote:Anonymous wrote:received this email
Social Security Applauds Passage of Legislation Providing Historic Tax Relief for Seniors
The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.
The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy.
“This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned."
The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples. Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned.
Social Security remains committed to providing timely, accurate information to the public and will continue working closely with federal partners to ensure beneficiaries understand how this legislation may affect them.
There is nothing in this email that is true. Pure lies coming from a government agency. Yes, the email and IP address are valid. Sad, sad state of affairs.
I think that email is not from SSA, but it is government lies. From what I understand SSA does not distribute info info via email.
This is not true. I receive emails from the SSA all the time - cost of living adjustments, changes to the website - all kinds of emails.
There is nothing in that email that isn't true.
the reality
https://www.investopedia.com/eliminating-soci...enior-bonus-11743513
President Donald Trump has promised to eliminate taxes that beneficiaries pay on their Social Security checks.
The Big Beautiful Bill does not eliminate taxes on Social Security benefits, but it does give a temporary tax break to those 65 and older with a modified adjusted gross income of up to $75,000—what some are calling a "senior bonus."
Eliminating income taxes on Social Security benefits would drain the trust funds that back the program faster than already projected.
Anonymous wrote:It's a little strange in the wording. I'm a senior receiving SS, and I've only heard about the deduction part. This email makes it sound like that is in addition to another provision ensuring there is no taxation of SS. I thought it ended up being just the deduction --which is effective for 2025. I've been following this because it may require some changes in our tax planning for Roth conversions and estimated tax once we know exactly how it will work.
Anonymous wrote:I get a bunch of MAGA Senate newsletters because I continually email them, and you would be shocked by the blatant lies in them. They also repeatedly talk about Biden. They also bury stuff at the end of their long windedness. I hope an academic is studying them. I’ve thought about doing an IG account with them.
Anonymous wrote:received this email
Social Security Applauds Passage of Legislation Providing Historic Tax Relief for Seniors
The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.
The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy.
“This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned."
The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples. Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned.
Social Security remains committed to providing timely, accurate information to the public and will continue working closely with federal partners to ensure beneficiaries understand how this legislation may affect them.
There is nothing in this email that is true. Pure lies coming from a government agency. Yes, the email and IP address are valid. Sad, sad state of affairs.