The new senior tax deduction could significantly lower taxes for retirees and Americans age 65 and older — but many seniors don’t know how it works or if they qualify. In this video, we explain: What the new senior tax deduction is Who qualifies for the deduction Income limits and age requirements How much seniors can save on federal taxes How this deduction works with Social Security income, pensions, and retirement withdrawals Common mistakes that could cost retirees thousands If you’re retire
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New tax deduction for seniors age 65 and older for 2025 through 2028 If you or your spouse will be 65 or older by the end of the tax year, there may be a new temporary federal deduction worth up to 6,000 per eligible taxpayer. What the deduction is A temporary federal tax deduction available annually for eligible taxpayers age 65 and older Available for tax years 2025 through 2028 Designed to lower taxable income, which can reduce the amount of tax you owe depending on your bracket Who may quali
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