Five Ways to Cash In On the $6,000 'Senior Bonus' Deduction

Taxpayers aged 65 and older may be able to benefit from a $6,000 'senior bonus' deduction over the next four tax years. Here ...

Will You Still Owe Taxes on Social Security? New Deduction Helps Retirees—But If You’re Still Working, There’s a Catch

Up to 85% of your Social Security benefits may be taxed, but a new "senior deduction" can cut taxes—unless your income is too ...

New Deductions, Bigger SALT Breaks, Smarter Roth Moves: How To Maximize 2025’s Tax Law Changes Before Year-End

How To Maximize 2025’s Tax Law Changes Before Year-End to improve your retirement savings strategy and unlock other ...
Richland Source

Senior tax bonus: A deep dive

A key feature of this bill is what’s being called the senior bonus, or senior deduction. Beginning in 2025 and running through 2028, taxpayers aged 65 or older can take an additional “bonus” deduction ...