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Running more than 900 pages, the legislation will affect the financial lives of older americans in many ways, from a new temporary tax deduction for people 65 and older to reduced federal funding for food assistance. A significant tax change for older adult taxpayers this year comes in the form of a new benefit known as the “senior bonus deduction.” Beginning in 2025, taxpayers aged 65 or older will be eligible for a new $6,000 federal tax deduction
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Get answers to 50 key questions about the one big beautiful bill and understand how it affects seniors’ taxes, benefits, healthcare and medicaid changes. A new $6,000 senior tax deduction in trump's new tax bill, the one big beautiful bill, starts in tax year 2025, offering potential savings for retirees 65 and older. In this article, we’ll break down what the new tax deduction for seniors over 65 means and who may be eligible to claim it
Of course, at tax time, we’ll be right by your side to help you claim the deduction and help you get your maximum refund.
Republicans are keeping president trump’s promise to help seniors afford the cost of living through an expanded senior deduction in the one, big, beautiful bill
