OBBBA
OBBBA Consequences Cited in New Trust Fund Insolvency Warning
The 2026 tax filing season kicked off officially earlier this week, and many taxpayers are eagerly awaiting an assessment of the impact on their personal financial situations. Larger refunds, or at least lower tax liabilities, are likely in store for…
Tax Season is Here! Time to Review the New Deduction Rules
There has been quite a bit of confusion surrounding the “no taxes on Social Security” mantra accompanying the One Big Beautiful Bill Act (OBBBA) of July, 2025. The taxation rules placed into effect for tax years 2025 through 2028 are…
Perspectives on the Taxation of Social Security Benefits
President Trump has led the most recent charge to rescue Social Security beneficiaries from the pain of income tax assessments, but that’s certainly not the first time the thought has emerged. Through the years, many have argued that including a…
More on the OBBBA “Bonus Deduction”
The “No Tax on Social Security” Promise President Trump’s campaign pledge to end the taxation of Social Security benefits met with a roadblock in the Senate, prohibiting changes to the structure of Social Security during a budget reconciliation process. Undaunted,…
Repeal of Social Security Benefit Taxation In the News Again
As the reality of the One Big Beautiful Bill Act’s Social Security benefit taxation offset unfolds, renewed interest in permanently eliminating this burdensome tax has shown up in the U.S. Senate. Earlier this week, Sen. Ruben Gallego (D-AZ) introduced the…
Further clarification on the “Senior Bonus Deduction”
The $6,000 per filer bonus income deduction enacted via the One Big Beautiful Bill Act has generated quite a bit of discussion since its July 4 arrival, much of it dealing with its mechanics at tax filing time. As explained…
More Thoughts on the “No Tax on Social Security” Workaround
Today’s headline article encourages strategic thinking about structuring your income to take full advantage of the temporary tax benefit. So, while we’re on that theme, here’s another article exploring the importance of income management and the phase-out parameters included in…
The “No Tax on Social Security” Pledge Re-Visited
It’s been over a month since the “One Big Beautiful Bill Act” was signed into law, and the full weight of this potentially temporary tax break for seniors is settling in. As most know, President Trump’s campaign pledge to end…
Big Tax Breaks Ahead for Seniors Thanks to One Big Beautiful Bill — Here’s What You Need to Know
(This article originally appeared on AMAC Newsline 7/14/2025) Americans are set to see meaningful tax relief starting in 2025, thanks to a sweeping new law the “One Big Beautiful Bill.” This legislation delivers real savings for retirees and working seniors alike and…