Expatriating or abandoning a green card often results in a significant loss of Social Security benefits due to increased U.S. taxation. Retirees beware!

Social security is already in danger. President Trump’s plan to get rid of income taxes on the benefit won’t save it. In fact, it’ll probably do the opposite.

There's not much to look forward to except the hope of a tax refund at tax time. Learn More: 8 States To Move to If You Don't Want To Pay Taxes on Social Security Try This: 3 Sneaky Things

Social Security retirement benefits are subject to taxes in many cases. But familiarity with the rules and some advance planning can limit the impact.

U.S. Rep. Thomas Massie, a Kentucky Republican, recently announced reintroduction of the Senior Citizens Tax Elimination Act ( H.R. 1040 ). This bill assists middle-class seniors by eliminating the federal income tax on Social Security benefits ( “Trump, Musk could ‘crater’ Social Security, former commissioner Martin O’Malley says,” Feb. 19).

Eliminating taxes on Social Security benefits would provide current beneficiaries with thousands more dollars but could cause younger generations to lose thousands in benefits.

Monthly benefit amounts will vary widely, but knowing the average amount at certain ages can give you a useful reference point to estimate your benefits accordingly. As of the end of January, the average monthly benefit for Social Security retired workers benefits was $1,