There are a lot of factors to consider the best time to start drawing on Social Security. You can take Social Security as early as 62, but waiting to take it (waiting for any amount of time, up to age 70) will increase your monthly benefit.
As this is a transition year for you, you will probably need to do some calculations to determine the tax impact of taking Social Security now, versus waiting until next year. Social Security benefits can be 0-85% taxable on your Federal tax return - depending on the amount of your social security income and the amount of all your other income. So if your salary and the RMD received in 2024 is significant, than you may be paying taxes on up to 85% of any Social Security benefits received.
There can be further consequences of taking Social Security this year, if you are not of full retirement age and earned income from your job this year - working and receiving benefits at the same time can create a reduction in the social security benefits you are eligible to receive (your question did not state your age, so I am not sure whether you are considered at full retirement age right now or not).
I would recommend contacting the Social Security Agency and setting up an appointment to discuss your options - they will be able to tell you what your benefits would be if you started claiming now, versus what the benefits are projected to be if you defer until next year or later.
As for the tax implications, it's difficult to say without knowing the rest of your information. As a worse case scenario, you can plan on 85% of your Social Security benefits to be taxable - but that is the worse case - the amount taxable could be lower than that amount, even being fully NOT taxable, all dependent on the Social Security and all other income received during the year.
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