[SunkenCiv]

0:00 It is passed
0:42 Tax Rates
1:34 Income Calculations
2:10 HSA Implications
3:15 Standard Deductions
4:40 Senior Deductions 65+
6:50 Social Security Taxability Example
8:34 Bonus Deduction Caveats
9:10 Charitable Giving Deduction
9:40 What this Means - Standard Deduction Path
11:01 Itemized Deductions
11:30 SALT Deductions
12:11 Mortgage Interest
12:30 Charitable Contributions
13:03 Car Loan Interest
14:00 Estate Gift Tax Exemption
14:37 Retiree Tax Strategies
16:14 Where to Get Help

[eastexsteve]

The extra 12,000 in deductions for myself and my wife will definitely help. Although, trying to use it to convert some traditional IRAs to Roth IRAs wouldn't help our bottom line as much. At least, not this year.

But remember, this tax break is only guaranteed for the next four years. Use it to your advantage ASAP.

[MeneMeneTekelUpharsin]

Retirement reference.

[Leaning Right]

We seniors got snookered again. We were promised no tax on Social Security benefits. Well, okay. But I would have been happy enough with a $6000 tax credit.

But, nope. We got a $6000 tax deduction. Which might save me $1000 or so. Yeah, it’s better than nothing. But it’s far from what I expected.

Disclaimer: I don’t blame Trump. I blame the weasels in Congress.

[P.O.E.]

Excellent. Thank you!

[11th_VA]

The biggest benefit for this is at the 12% - 22% inflection point ( $96K filing jointly).

If you can keep your income below that inflection point, even after doing an IRA conversion or Mandatory Withdrawal, you will have made out well. Only pay 12% vs 22%. JMHO