I’ll cover:
* Key tax deductions for retirees included in the bill
* How Social Security taxability is impacted
* Tax breaks specific to seniors and retirees
* How these changes can help you maximize savings in retirement
* What you need to do to prepare for these changes in your 2025 tax filings
Here is where you can get your own Social Security Taxability Worksheet for free and no strings attached:
Here is the video that goes over how to use the Social Security Taxability Worksheet:
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⏰ TIME CODES ⏰
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
Read More
By: The Retirement Nerds
Title: How the New Tax Law Will Actually Affect Your Tax Bill ($6,000 Senior Deductions, Roth, IRA)
Sourced From: www.youtube.com/watch?v=HNQbgUTqzRs
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