At Tax Time, You May Need to Count in Social Security Benefits

By Bo Beard | May 17, 2024

Full retirement age

Social Security plays a crucial role in the retirement income of many Americans, particularly as life expectancy increases. 
 

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With the full retirement age now at 67 instead of 65 and the rising cost of living, every cent becomes significant. 
 

Social Security

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While most individuals link Social Security with retired individuals, the elderly heavily rely on the program, with nearly 90% of Americans aged 65 and above receiving benefits to meet their needs.