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

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

Roughly 200,000 retirees in South Dakota are expected to benefit from a new federal deduction that exempts most Social ...

Roughly 1 million South Carolina retirees are expected to benefit from a new federal deduction that exempts most Social ...

If your income exceeds $150,000 for a single adult or $250,000 for a married couple, you won't qualify for the $6,000 senior ...

President Donald Trump’s so-called “big beautiful bill” may not touch on Social Security directly, but its restructuring of ...

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

President Donald Trump's One Big Beautiful Bill Act (OBBBA) is his administration's signature legislation during his second ...

Just before breaking for the July Fourth recess, Congress passed a massive new tax law with the kind of name only Washington ...

The new “Big Beautiful Bill” signed into law promises bigger paychecks for working Americans. Boomers who are close to retirement, the supposed benefits could help you increase your savings ...

Read Next: 4 Ways Trump’s ‘Big Beautiful Bill’ Will Change How You Plan for Retirement Reporting by the Tax Foundation found that the full amount for this deduction is for those whose AGI is ...

Many filers won’t be able to take full advantage of expanded deductions in the recently passed tax law.