News

Does Trump’s new ‘big beautiful bill’ change the age at which older Americans should start claiming Social Security?

The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older.

Temporary 'senior bonus' tax deduction offers savings for older Americans. Here's who qualifies

Older Americans can now benefit from a "senior bonus" tax deduction, but it largely depends on their income. SACRAMENTO, ...

Social Security Under The New “Big Beautiful” Tax Provision

What does the "Big Beautiful" bill mean for your Social Security as a retiree - and how can you plan for the potential ...

No Tax on Social Security for Seniors? Trump Tax Policies Explained

The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the ...

These Seniors Will Save Money on Taxes This Year Thanks to President Trump's New OBBBA Deduction

The exact dollar amount you'll save depends on several factors, including your annual income and tax filing status. A Council ...

What the Big Beautiful Bill Means for You: New IRS Guidelines Break It Down

The IRS has released new guidelines to help taxpayers understand the Big Beautiful Bill, a sweeping tax reform law now in ...

Are you eligible for the new $6,000 senior tax deduction?

In tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.