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Why the new senior tax deduction may beat any Social Security tax cut
The new senior tax deduction is quietly reshaping retirement math. Instead of tinkering with how Social Security itself is taxed, Congress created a sizable extra write off for older filers that can ...
The standard deduction has been super-sized for seniors. Thanks to provisions in the One Big Beautiful Bill Act, taxpayers 65 and older can claim an additional $6,000 without itemizing their ...
President Donald Trump’s One Big Beautiful Bill Act, which was recently signed into law, offers Americans a number of tax benefits. It makes many of the changes from the Tax Cuts and Jobs Act (TCJA) ...
A United States Treasury government check rests on top of a Social Security card. The Social Security Administration (SSA) issued a press release and an email to tens of millions of Americans claiming ...
It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Itemizers should hit fast ...
Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...
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