Millions of older Americans will see a new tax break starting this filing season, thanks to a temporary “senior bonus” deduction included in recent federal tax legislation. While it doesn’t eliminate taxes on Social Security benefits, the change can significantly reduce taxable income for people age 65 and older, especially those living on fixed or middle class incomes. For retirees and those close to retirement, it’s a reminder that small changes in tax policy can have an impact on retirement cash flow.
Axiom | Vol 515
Tough Decisions Ahead For The New Fed Chair | Next-Level Travel: Security, Planning & Dream Building | Jet OUT WAUKESHA | A New Chair At An Awkward Time | Read Monthly Macro & Market Musings | THURSDAY | How Women Can Prepare Financially for the Unexpected | WOMEN & WEALTH | Luxury Isn’t a Price Tag: Redefining the ‘Biggest Day’ with Wedding Pros | Listen To Wealthyist | 8 Tips For Smarter Charitable Giving | WEBINAR | The Early Retirement Checklist
