News

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 ...
The Sacramento Bee on MSN23h

Trump Announces Senior Tax Deduction

President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and ...

$63 billion in tax relief for America's seniors? Here's when the new changes in Social Security will begin

President Trump's 'One Big Beautiful Bill,' enacted on July 4th, introduces a $6,000 tax deduction for seniors aged 65 and ...

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.

Retirees Should Watch These Four Key Tax Changes in 2025

For 2025, single filers can claim a standard deduction of $15,750, while married couples filing jointly can claim a standard ...

4 Things President Trump Isn't Telling You About the OBBB's "No Tax on Social Security Benefits"

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer.