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[Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
In order to claim the new additional Senior deduction of $6,000 ($12,000 if Married Filing Joint), you must be 65 or older on the last day of the tax year, have a valid social security number and to get the full amount, your modified adjusted gross income must be under $75,000 (or $150,000 for Married Filing Joint). (The deduction phases out if your modified adjust gross income is over these amounts.)
This bonus deduction is in addition to the standard deduction for your filing status or your itemized deductions, if you itemize.
The bonus deduction is temporary, for years 2025 to 2028.
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a month ago
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