News

Even after President Donald Trump’s megabill was passed, Social Security benefit taxes look the same as they did in the 1980s ...
For seniors across the country, perhaps the most noteworthy aspect of the new bill is the additional deduction for this ...
The U.S. tax landscape is set for significant changes with the 'One Big Beautiful Bill Act' (OBB), signed by President Donald ...
Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer.
Eligible seniors can claim the full deduction even if they itemize. For example, if your itemized deductions total $30,000, you can add the $6,000 senior deduction to bring your total to ...
A new, temporary "senior bonus" deduction of up to $6,000 will apply to taxpayers ages 65 and older in 2025, 2026, 2027 and 2028. It ends after that without congressional action.
A new temporary tax deduction for seniors offers relief, but it’s not a direct cash payment. Knowing the rules is key to ...