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Title: Cardinal Point Wealth Management Reveals Key Tax Strategies for Cross Border Couples Claiming Social Security

United States, 24th Nov 2025 – Cardinal Point Wealth Management has issued an advisory outlining 2025 claiming strategies for married couples receiving U.S. Social Security, with special emphasis on how benefits are taxed in both the United States and Canada. For cross-border families—particularly U.S. citizens living in Canada—understanding the tax implications for both countries is crucial for maximizing after-tax retirement income.While Canadians are accustomed to the Canada Pension Plan (CPP) and Old Age Security (OAS), many cross-border couples also qualify for U.S. Social Security through personal work history or a spouse’s record. But choosing when and how to claim these benefits is vital, because that affects lifetime income, survivor protection, and tax exposure.U.S. Taxation of Social Security in 2025:Single filers: below $25,000 – no tax; $25,000–$34,000 – up to 50% taxable; above $34,000 – up to 85% taxable.Married filing jointly: below $32,000 – no tax; $32,000–$44,000 – up to 50% taxable; above $44,000 – up to 85% taxable.Because these limits aren’t indexed to inflation, most dual-income households now pay federal tax on 85% of benefits. Some states also tax Social Security to varying degrees.New One Big Beautiful Bill Act (OBBBA) Seniors Deduction:Under the OBBBA, people aged 65 and older can claim a deduction of $6,000 each ($12,000 per couple) for 2025–2028. It phases out between $150,000–$250,000 of modified adjusted gross income for joint filers. Unless extended, it expires after 2028.Canadian Taxation of U.S. Social Security:Only 85% of U.S. Social Security benefits are taxable in Canada, with 15% automatically exempt. No U.S. withholding applies, so benefits are taxed solely in Canada at marginal rates.The Canada-U.S. tax treaty often makes U.S. Soc...

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