Tax bill
The New $6,000 deduction in the “Big Beautiful Bill” does not reduce your AGI.
The “Big Beautiful Bill” (BBB) recently passed in Congress includes an additional $6,000 tax deduction for people 65 and older, $12,000 for married. While this new bill may reduce your tax liability, it does not reduce your adjusted gross income…
Dissecting the “No Tax on Tips” Provision in the Tax Bill
There has been considerable speculation about the Trump Administration’s “Big, Beautiful Bill” and its potential impact on Social Security. Attracting the most attention, naturally, was the disappearance of the “No Tax on Social Security” pledge, which was covered in a…