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To: Tell It Right

“Tucked inside the “One Big Beautiful Bill,” signed into law by President Donald Trump on July 4, 2025, is a $6,000 tax deduction for individuals aged 65 and older. For couples filing jointly, both partners can claim the deduction if eligible, reducing taxable income by up to $12,000. The benefit is set to run from 2025 through 2028.

It doesn’t rewrite how Social Security is taxed, but by trimming taxable income on paper, the law could pull millions of retirees below the threshold (below $25,000 in income for individuals or $32,000 for couples), where those benefits get taxed, at least for now.”
Forbes


42 posted on 10/24/2025 5:04:08 PM PDT by tumblindice (America's founding fathers: all armed conservatives)
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To: tumblindice

Agreed. But the 65 year old boost in standard deduction applies to all income types, not just SS. So it doesn’t impact the early vs late collection of SS debate.


43 posted on 10/24/2025 7:25:34 PM PDT by Tell It Right (1 Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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