#senior-deduction

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#social-security #obbba #social-security-taxes #tax-refunds #overtime-exclusion #child-tax-credit
US politics
fromFast Company
1 week ago

New tax rules are in effect this season-and many filers don't know about them

2025 tax law increases refunds by exempting overtime and tips, raising the child tax credit, and adding senior deductions, potentially boosting many refunds $1,000.
#obbba
fromSFGATE
2 weeks ago
US politics

700,000 Retirees in Louisiana Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

OBBBA's senior deduction largely shields Social Security from federal taxes, delivering significant tax relief to most Louisiana retirees.
from24/7 Wall St.
2 months ago
US politics

Social Security Retirees Get a New Tax Break in 2025. Here's How to Plan For It

A new $6,000 annual deduction for taxpayers aged 65+ (available 2025) reduces taxable income; couples can claim $12,000, with phase‑out above income thresholds.
fromSFGATE
2 weeks ago
US politics

700,000 Retirees in Louisiana Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

more#obbba
US politics
fromSFGATE
2 weeks ago

3.3 Million Retirees in New York Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

New York retirees will receive a Senior Deduction beginning 2025, reducing federal tax on Social Security and increasing after-tax retirement income.
fromSFGATE
2 weeks ago

300,000 Retirees in New Hampshire Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

At the heart of this legislation is the "senior deduction," a provision created to provide financial breathing room for those living on fixed incomes. For the state's aging population, the policy could deliver meaningful tax benefits during a time when many are hoping to age in place in their homes, but need the extra money in order to do so.
US politics
US politics
fromwww.mercurynews.com
3 weeks ago

Jill On Money: Tax season opens

2025 tax changes alter deductions and credits; file electronically by April 15, 2026, claim the larger of standard or itemized deductions, and check new limits.
US politics
fromSFGATE
6 months ago

1 Million Retirees in Missouri Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

The One Big Beautiful Bill Act will eliminate federal income tax on Social Security income for most retirees.
fromSFGATE
6 months ago

700,000 Retirees in Louisiana Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

Under the OBBBA, the tax code now includes a new senior-specific deduction of $6,000 for single filers and $12,000 for married couples filing jointly-if both spouses are 65 or older.
US politics
Public health
fromSFGATE
6 months ago

300,000 Retirees in Idaho Qualify For The 'Senior Deduction' Under Big, Beautiful Bill

Idaho's retirees benefit from a new $6,000 federal tax deduction, shielding most Social Security benefits from federal taxes, effective in 2025.
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