2025 Social Security Tax Cuts: Discover the Two States Reducing Taxes and What It Means for You
Social security has become an important element in the retirement income of a few million Americans. People estimate that the average Social Security benefit would hit $1,976 monthly by 2025, which equates to near $24,000 per year. Most pensions, however, would not receive the entire amount because their benefits would be reduced by that deduction, including Medicare Part B deductible premiums and federal taxes. Some states levy state income taxes …