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The Social Security Administration (SSA) requires retirees to report their income if they decide to return to work, as this can influence the benefits they receive.
Your Full Retirement Age (FRA) plays a critical role in determining your Social Security benefits. The FRA varies depending on your birth year. For individuals born in 1960 or later, the FRA is 67 ...
The income from an annuity won't directly reduce your Social Security benefits, but it can push your provisional income high enough to trigger taxes on up to 85% of your Social Security payments.
The average monthly Social Security benefit today for retired workers is about $2,000. If that’s 75% of your income, it gives you a total retirement income of about $2,667 per month.
Colorado exempts all federally taxable Social Security income for residents 65 and older. Starting in 2025, those aged 55-64 can exclude all such income if their AGI is under $75,000 ($95,000 for ...