from24/7 Wall St.
4 days agoSocial Security Retirees Get a New Tax Break in 2025. Here's How to Plan For It
The OBBBA's new deduction is worth $6,000 annually, and it is on top of other deductions retirees can claim, like the standard deduction available to all taxpayers. The new $6,000 deduction is available beginning in 2025 for taxpayers 65 and over, and married taxpayers who meet the age requirements can each claim the deduction, allowing them to save a total of $12,000 on their income taxes.
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