This bonus will come in addition to the existing extra standard deduction for seniors, which the IRS has increased as part of ...

Discover essential but often missed tax breaks for retirees over 65. Learn how to maximize your savings in 2025 with these ...

The recent tax bill provides an additional deduction for seniors under certain income limits. This may effectively reduce or eliminate federal taxes paid by people age 65 or over.

A significant tax change for older adult taxpayers this year comes in the form of a new benefit known as the “senior bonus deduction.” Tucked into President Donald Trump’s 2025 tax bill, this ...

With new tax breaks in place, experts say there’s still time to increase deductions by planning contributions and tracking ...

President Donald Trump's "One Big Beautiful Bill" didn't do away with taxes on Social Security, but it does give seniors age 65 and older an additional $6,000 bonus tax deduction in tax years 2025 ...

The One Big Beautiful Bill Act (OBBBA) added a new tax deduction worth up to $6,000 ($12,000 for married couples) for seniors. You must be at least 65 and not a high earner to qualify. Exact tax ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

With age comes wisdom … as well as certain tax breaks. While seniors often face lower income and higher expenses (think health care and assisted living), there are also numerous federal and state ...

The IRS is adjusting the income limits for its federal income tax brackets to account for the impact of inflation, an annual reset that could provide relief for some Americans when they file their ...