Social security Articles

What Seniors Need to Know This Tax Season

what seniors need to know about tax season

what seniors need to know about tax seasonNone of us can escape tax season, not even when we get older. Those over 65 have various tax considerations that come into play with regard to Social Security income, age-related deductions and credits, IRA distributions, medical expense deductions, and more. Below is some general  information for older adults and their families to consider for this …Read more ›

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Confirmed: No COLA (Cost of Living Adjustment) For Seniors In 2010!

Last months I wrote a post about the possibility that for the first time in 35 years, 57 million seniors will NOT be getting a cost of living adjustment (COLA) to their social security benefits.

Well, today it was confirmed. The reason cites is that prices has dropped over the last year and therefore there is no need for an increase.

However, CNN Money writes today that President Obama, wishes to offset the …Read more ›

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Seniors will not be getting a cost-of-living adjustment (COLA) for first time in 35 Years!

Barring action by Congress, 2010 will be the first year in 35 years that seniors don’t get a cost-of-living adjustment. Benefits won’t shrink, but it may feel like a cut because of rising medical costs.

Come January, seniors may do a double take after seeing their Social Security checks. The 2- to 3-percentage-point increase in benefits they’ve been getting each year won’t be there.

That’s because, for the first time in three decades, the checks likely …Read more ›

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