Information for Financial Professionals (Subscribe)

Financial planners and tax preparers play an important role in helping clients understand, prepare for, and manage their Social Security and Medicare benefits. This page brings together essential information, including retirement planning, benefit estimates, tax documents, and wage reporting, to support your work with clients at every stage of life. It is designed as a central reference point for commonly used Social Security information relevant to financial professionals.

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Helping Your Clients Plan for Retirement

Retirement benefits are an important part of your clients’ long-term financial plans. Knowing how Social Security and other retirement income sources work helps you guide clients on when to claim benefits, how to maximize lifetime income, and integrating these benefits into their retirement strategy.

Retirement

Benefit Estimates and Planning Tools

These resources help clients understand their earnings history, estimate potential benefits, and plan for retirement.

Benefit Calculators

Use Social Security’s calculators to estimate retirement benefits, consider life expectancy, and explore how different claiming ages affect monthly payments.

Social Security Statement

Clients can access their personalized Social Security Statement in their my Social Security account. It provides:

  • Earnings history
  • Retirement benefit estimates
  • Helpful planning charts and content

Helping Your Clients with Other Life Events

Disability, Survivors, and Medicare benefits are important for your clients’ financial security. Understanding these programs allows you to advise clients on eligibility, application, and how these benefits can support them and their families during life’s unexpected events. Staying informed helps you integrate these benefits in your clients’ overall financial plans.

Disability

Survivors

Medicare

Online Applications for Social Security Benefits

Your clients can apply online for retirement, spouse’s, Medicare, and disability benefits.

Helping Your Clients Understand Their Income Taxes and Social Security Benefits

Some clients may need to pay federal income tax on their Social Security benefits, depending on their overall income. No one pays federal income taxes on more than 85 percent of their Social Security benefits.

Helpful resources:

Get Tax Forms (SSA-1099 / SSA-1042S) Online

Clients who receive Social Security benefits can go online to access their SSA-1099 or SSA-1042S through their personal my Social Security account. Replacement forms for the previous tax year are generally available beginning February 1.

If your clients are noncitizens who live outside of the United States and they received or repaid Social Security benefits, we will send them form SSA-1042S instead. The forms SSA-1099 and SSA-1042S are not generated for people who receive Supplemental Security Income (SSI). For more information, visit the Foreign Services page.

Withholding Income Tax From Benefits (Form W-4V)

Clients can choose to have federal income taxes withheld from their Social Security benefits at the rate of 7, 10, 12, or 22 percent. To start, change, or stop withholding, they must complete IRS Form W-4V and submit it to their local Social Security office.