Turning 65 doesn't just mark a milestone in life, it can also unlock valuable tax savings. The IRS grants seniors an extra standard deduction. This deduction can lower taxable income by thousands of ...

If you’re 65 or older and have been itemizing your tax deductions, you may wonder if the new “senior bonus deduction” in Trump’s tax bill — available starting in 2025 — could benefit you. After all, ...

As it does each year, the IRS has announced inflation adjustments to several tax credit and deduction amounts for 2026. This includes new 2026 income tax bracket thresholds, higher standard deduction ...

Taxation of Social Security benefits has been in the news lately, with the passage of a temporary tax deduction as part of the One, Big, Beautiful Bill Act. The bill includes a deduction of $6,000 for ...

A federal tax overhaul is promising major savings for retired homeowners across South Dakota. Under the One Big Beautiful Bill, a newly created “senior deduction” will eliminate federal taxes on ...