Retirees may face higher tax bills on Social Security benefits due to expired tax provisions and increased income. Strategies to reduce taxes include planning, charitable donations, converting savings to Roth accounts, and moving assets to a Roth IRA. Taking capital losses and minimizing withdrawals can also lower tax liabilities. Social Security tax rate remains 6.2% for employees and employers in 2025. Medicare tax rate remains at 1.45% for both. New tax-free deduction of up to $6,000 for those 65 and older will be implemented in 2026.

Read more at Yahoo Finance: 4 Tips To Reduce Your Social Security Tax Bill in 2026