News

Doing a Roth conversion in 2025? Here’s how to use Trump’s new $6,000 senior deduction to slash your taxes — but you need to be careful

For seniors across the country, perhaps the most noteworthy aspect of the new bill is the additional deduction for this ...
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The $6,000 senior 'bonus' explained; and why you won't see it in your bank account

A new temporary tax deduction for seniors offers relief, but it’s not a direct cash payment. Knowing the rules is key to ...

Who Qualifies For the New Senior Tax Bonus and How Much Could You Get?

Like most tax breaks, it has qualifications and an expiration. Here's what you need to know about who qualifies, how much you ...
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What employers need to know about the overtime compensation deduction

Employers are responsible for providing statements for workers to claim federal income tax deductions on overtime compensation.
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Hidden price: Tax breaks for seniors may speed up Social Security insolvency

The One Big Beautiful Bill adds a new tax deduction for seniors, but it may accelerate Social Security’s insolvency by ...