Big Beautiful Bill
How much in savings will the new deductions provide?
When the “Big, Beautiful Bill” was signed into law on July 4th, it included a new senior tax deduction (temporary) aimed at those seniors who pay taxes on their Social Security. Because this bill was a reconciliation bill, it could…
Why the Big Beautiful Bill did not eliminate taxes on Social Security
The Big Beautiful Bill—a nickname often used by President Donald Trump to refer to legislation he champions—did not eliminate Social Security taxes due to the Byrd rule. The Byrd Rule is a Senate rule that limits what can be included…
Social Security taxes
Social Security is one of the biggest political issues which must be addressed soon. President Donald Trump wanted to eliminate taxes on Social Security but he was unable to do that with his “Big Beautiful Bill”. Adam Levy for The…
Why is there a “Senior Bonus” in the Big Beautiful Bill” instead of “no tax on Social Security”?
This is a question on the mind of many Seniors. While it will provide some tax relief to low and middle income seniors, it is not the elimination of tax on Social Security that we had hoped for. Kevin Stocklin…
Additional Income Tax Deduction for Seniors is part of Trump’s big bill
President Trump’s “Big Beautiful Bill” has passed the House and is headed for the Senate. This means Trump’s tax cuts from 2017 will remain in place. Also, the bill includes an additional $4,000.00 tax deduction for America’s Seniors. House Ways…
“Big Beautiful Bill” takes a Step Forward
After being squelched on Friday night when five republicans voted with democrats, members of the House Budget Committee were summoned back to Washington for a meeting on Sunday night at 10 pm. After some reconsideration, the bill passed along party…